How to Buy Cheap Lexus Cars at Auction
You can never spell “luxury car” without a Lexus. It is amazing how this brand has risen to be one of the most coveted in the market not only for its style and comfort, but also for its added technology and, well, name of the brand. Many people like it because of its very high resale value too. In other words, even if you decide to sell this after 5 years, you can still probably get a good price.
But buying something as luxurious as Lexus means spending a lot of money. We are talking about 5 digits. For example, if you wish to purchase a used 2010 Lexus RX 350, you may have to spend $30,000—average. The dealer can push it to $3,000 more.
What if you can buy the same model for less than $10,000? Of course, that is hard to believe, but then, if you are participating in an auction, even the priciest can be the cheapest.
How to Join
Joining a Lexus car auction is very easy, and today you will learn the steps and some trade secrets:
- Choose the ones closest to your area. One, the chances of missing it are very small. Second, finding an auto mechanic who can help you inspect the vehicles is high. Third, you will not have any problem transporting the car. If you have paid the money and completed the paperwork, you can even take it home right after the auction. If you need some help, you can subscribe to websites such as Gov-auctions.org, where you can access a huge database of government auto auctions and narrow your search by location.
- Make sure you get all the details. These include where, when, and how. If you are not familiar with the address, check it out in Google Maps. If you want a complete list of auctioned vehicles, contact the auctioneer so they can send the list by fax or e-mail. Do not forget to know the requirements.
- Pre-qualify for an auto loan. This is important! While Lexus cars can be sold very cheaply in auctions, they can still be worth a lot. Just to be prepared, apply for a pre-qualification from your chosen lender.
- Determine the inspection schedule and be there. With the help of your auto mechanic, inspect each of the vehicles you wish to bid on (use the list for this). Using your mobile device, check their possible resale, trade-in, or dealer value in the market so you know how much you should bid for every car. Take note that you may have to pay some fees to the auctioneer, so include that when setting your bid price.
- 5. Bid confidently. Bidding is a game of odds. You can win or lose it. Either way, don’t lose more than you want to lose. Have a ballpark figure and stick to it, even if you like the vehicle so much. Besides, with hundreds of other auctions, you can surely get the one you’ve always wanted.