Car auctions have been around for quite sometime now and the majority of people buying cars at auctions generally end up getting a good buy. However, there are still some, even though a minority, who end up buying cars that turn out to be lemons. So if you are thinking of trying your luck at a car auction or have recently seen just the car you want at an auction and want to bid for it, then here are some tips that will help you in making sure that the car you get turns out to be worth your time, effort and most importantly, your money.
· First of all, it is important that you select a genuine car auction which has the reputation of selling good cars which are value for money. In most case, auctions held by government agencies and offices are the ones that have the best possible cars at the best possible prices, so it is advised that you buy your car from one of these auctions.
· Doing your homework well is the most important part of buying your car at an auction. Almost every organization that holds car auctions lets people inspect cars at a pre-sale inspection. Go and check out the cars at the inspection and look for all the things you know about that will let you determine the quality of the car being sold. Try to take along a friend who knows these things well. If you are allowed to, take a mechanic along who will be able to inspect these cars and give you a complete picture about the real condition of the cars you want to bid for.
· Check the vehicle out thoroughly before you bid on it. Note down the vehicles VIN or Vehicle Identification Number and run it through a service that will provide you with its history. There are some very good services that will provide you with all the details about a car including number of owners, odometer usage, accident history and any title problems etcetera for a nominal fee. Getting this information is extremely important and do not even think of bidding without it or you might just turn out to be more sorry than safe.
· Get a general idea of the market value of the vehicle before you bid on it. The best way of doing this is to note down all the information available about the car and then calling up at least a couple of auto dealers. Pretend that you want to sell the car that you are actually planning to buy in the car auction and ask the dealer to give you an approximate price for it. These dealers will generally give you a price that is at least ten to twenty per cent lesser than its real value. Now that you are in a position to easily calculate the market value of the car you want to bid for, make sure that you do not exceed this amount during the auction.
· Wait for others to bid before you do. At times, auctioneers start with a high price and then decrease it further when nobody bids at that price. Do not be the first one to bid in a car auction. Instead, check out the audience’s interest in “your” car before you bid for it.