Car auctions are generally of two different kinds, the online car auctions and the local car auctions. You can see how each one operates before deciding on which you would prefer to use for either buying or selling a used car. There are advantages and disadvantages in both, which could affect the sales. Local car auctions are popular because people can actively participate in them and see the vehicles which they find suitable physically and also do an inspection on these vehicles. This is not possible with online auctions, but on the other hand you do not have the trouble of doing any leg work here and get it all done from your home personal computer.
How local car auctions function
For those who want to participate in any of the local car auctions the very first thing would be to pre-register with them. This is not a problem and can be done quite easily, and once you have registered you will be given all the comprehensive information with specific instructions about the procedures of these local auctions. The staff of the auctioneers will personally assist you in dealing with the various courses of actions about bidding.
On registering with the local auction they will provide you with a number which will be unique and if you are selling a car through them you will be given the spot to keep your vehicle in, at the site. In case you are registering with them to purchase a car, then you will be given the comprehensive list of vehicles which are being put up for auction and also be given information on each of these vehicles and their conditions. Once you have made a choice of the vehicle or vehicles which you would like to bid for, you should inspect the vehicle before you start bidding for it. Another important decision you have to make is the limit that you will go up to for bidding. It is best to keep a limit and for this you would have to evaluate the cost of the vehicles in the present market so that you do not pay too much for it. You should be clear in your bid to let them know the amount you have bid for.
Once you win the bid you should immediately complete the transaction by paying up the amount and taking charge of your vehicle. In case you do not have the money to pay for the vehicle the auction staff will help you with finance through a bank or a finance company that offers loans for used vehicles. Sometimes the financers that are introduced to you by the auction staff could be more expensive than those who are outside. So if possible always keep your own contacts ready before you bid for the cars, so that you can get a loan at a cheaper rate.
Once the transaction is over and the vehicle is yours you will be given an invoice which will let you take the vehicle out of the auction site to your own place. If you have to ship the vehicle even this is possible and the staff will give you all the assistance and arrange for it too.