There are numerous different ways to find quality used cars at below secondary market value but nothing is more effective than sourcing budget vehicles at Knoxville TN auto auctions. Auto auction offer a variety of unique benefits that cannot be replicated in any other setting. An auto auction is the only place you will pay only slightly more than what everyone else is willing to pay. This puts you in a unique position of power to decide what type of car you want, how much you want to pay, and what external variables you can leverage to drive down the cost.
Auto auctions may source vehicles from a variety of parties ranging from lending institutions and used car dealerships to government entities and even previous owners. The key is knowing the history of vehicle and determining what factors you can use to save money. At an auto auction the easiest way to save money is by target cars with obvious cosmetic damage or rebuilt titles.
What Can Cosmetic Damage Tell You?
If you are targeting cars with cosmetic damage to save money then it is important to understand the different types of damage and what it may tell you about the vehicle. Hail damage is by far the best type of cosmetic damage in terms of saving money without sacrificing reliability. A single dent in multiple areas of vehicle is often enough to get it “totaled” by an insurance company because replacing multiple panels quickly becomes expensive. At the same time, hail damage has no effect on the reliability, quality, or long-term value of vehicle.
Another popular way to use cosmetic damage to your advantage is by focusing on cars with a rebuilt title. A rebuild tile tells you that the car was salvage at one point in time. Since then, it has been purchased (likely at a salvage auction) and rebuilt. Plus, to qualify for a rebuilt title the vehicle must pass all of the State of Tennessee’s tests regarding emissions and road worthiness. While this doesn’t guarantee it will last for another 100,000 miles it does mean significant repairs were done. Don’t forget to take a look at the vehicles damage history to see exactly what type of accident it recovered from. Some rebuilt titles are for cars that were totaled simply because the cosmetic damage exceeded the current market value for the car which means it will still perform admirably for years to come.
Examples of Sourcing Budget Vehicles at Knoxville TN Auto Auctions
2008 Infiniti G35 AWD
If you are comfortable with a rebuilt car then this is a great example of how to source budget vehicles at a Knoxville TN auto auction. This 2008 Infiniti G35 AWD has a rebuilt vehicle title which means it was previously a salvage vehicle that has since been repaired and has passed all of the state required tests. It carried a secondary market value of more than $14,000 but the winning bidder paid only $6,000 even though it had only 71,000 miles on it.
2004 BMW 525I
A great way to source budget vehicles at auction is to focus on one’s with some cosmetic damage that will not affect how it drives or its reliability. At a recent Knoxville TN auto auction, a lucky bidder paid only $3,500 for a 2004 BMW 525I. It featured notable rear end damage along with normal wear and tear. Plus it had 130,000 mile on it. At the same time it carried a secondary market value of nearly $17,000 so it definitely qualifies as an excellent value purchase.
2007 Toyota Camry CE/L
A final example of how to source budget vehicles at Knoxville TN auto auction is focusing on hail damage. Hail damage instantly slashes the price of a vehicle without affecting its reliability. This is because a single dent from hail on the hood and side panels will constitute thousands of dollars in repairs even though it does actually affect how the vehicle performs. A savvy bidder paid only $2,250 for a 2007 Toyota Camry CE/L with 80,000 miles. Its estimated secondary market value was $13,075 even when the hail damage was taken into consideration.
As you can see, there are a variety of different ways to source quality used vehicles at Knoxville TN auto auctions. The key is deciding what type of damage you are most willing to accept in exchange for significant savings over the actual retail secondary market value.