When most people think about Orange County, the last thing that comes to mind is saving money. That is why most people are surprised to learn that it isn’t very difficult to drive a cheap car home from an Orange County auto auction. While some auctions do have more competing bidders than others, many times understanding a few simple principles is all it takes to bring home a reliable used car at rock bottom prices – even in Orange County.
Focus on Models with Multiple Similar Listings
The most important guideline to follow is based upon the simple economic theory of supply and demand. The more of something that is available, the less expensive each individual unit will be. At an Orange County auto auction, this means focusing on types of vehicles which have multiple similar listings. For example, popular domestic makes and models are typically more readily available at local auto auctions. As a result, their average price is lower because each bidder is more willing to wait for a car that falls within their budget. If it gets too expensive, they will simple walk away and wait for the next unit to hit the auction block. At an Orange County auto auction, focusing on the vehicles which have the greatest volume of readily available units is the best way to drive a cheap car home.
Know How Car Values Change at Specific Mileage Points
A trick that takes a little more preparation is learning the value of cars at specific mileage points. For example, a car with 95,000 will be notably more expensive than a car with 100,000 miles, simply because there is a significant perceived decline in value. As a result, the car is much cheaper without any noticeable difference in quality or reliability. Take a moment to think about what amount of mileage you are targeting and try to identify if there is a nearby perceived decline in value. For example, if you want a car with less than 40,000 miles, don’t rule out a car with 55,000 miles without looking at its history. Mileage is a fairly arbitrary number to determine reliability. How well a car is maintained is notably more important and offers a great opportunity to save money.