Owning a car is a sign of freedom for many, giving them the option of taking off and driving around to anywhere they wish to. But not all can afford a first hand new car, so they seek solace in cars that have been used or area being sold for various other reasons. And the best place to find such cars is to head to the nearest auction venue filled with cars of all kinds.
There is a lot of fun in buying cars from the auto auctions, but there are certain pointers to keep in mind before bidding on an auction vehicle. These will keep you safe and avoid any unpleasant surprises from popping up later on.
Are you given a list of cars up for auction or is there no information related to this. Knowing the cars that are going to be available will give you the heads up on whether there are any that you like or you will only be wasting your time around here. If the auctioneer or others in charge do not give a list of what’s in store, be wary and aware of how they go about it.
Does the auction company allow the bidders to inspect the vehicle before commencement of the auto auctions? Are the vehicles kept in a place where it is open to public view. If you are able to visit the venue, see the cars and inspect them in and out, it is a reliable auction site. But if otherwise, you might want to rethink the visit.
When the auction company hands out fliers about the auto auction to be held, does it contain information about the vehicles and their condition. Many a times when it is a seized car auctions, the condition of the vehicle could range from good to bad, and so it is essential to know about the car or bike that you are bidding for. It should also list down the history of the vehicle, how old it is, miles that have been run on it, the condition of the engine and so on.
Many a times at auto auctions, what you bid will not be the exact price you will have to pay. Some auction companies charge an indemnity fee or a buyer’s premium as it is called. So check before hand on their payment terms, and mode of payment as well. Preferably don’t make purchases at the very first auction you go to or at the first car you see. There are bound to be other better ones, so take time in making the right choice.
5. Actual Bidding
When you have found the car of your dreams and are ready to take the car home, keep in mind “never to quote more than you planned on spending on a car”. This is because, at times people get carried away, and don’t realise what they are doing till they have gone too far ahead.