A large number of people are turning towards auto auctions instead of going to car dealers when they want to buy used cars. This is because car auctions are actually the best place to buy used cars. This is because most of the cars sold in auctions are sold at great prices, which are much lesser than what any used car dealer would offer for the same make and model. On the other hand, car auctions, especially those held in large cities offer a variety and collection of cars that no used car dealer can boast of. So if you want to buy a used car, then a car auction is the best place to look for one. Given below is a small primer that will tell you about the basics of car auctions–how, where and why they are held and how you can benefit from one.
· There are a number of different kinds of car auctions, but if you want to get the best deal possible then it is advised that you only attend auctions that are held by your local police department or other government agencies. There are three main reasons why government car auctions are better than any other kind of car auction. For one, government agencies hold car auctions because they want to get rid of all the vehicles that have either been seized or repossessed from criminals or loan and tax defaulters. The purpose of the agency holding such auctions is not to make profit but to avoid the cost of storage of seized and repossessed vehicles. So you will find the cheapest rates at government car auctions. Another reason why you should go and try your luck at these auctions is that if you are not averse to buying a car that was once owned by a criminal or a conman, then you can easily find at least some great luxury and sports cars being auctioned at throwaway prices at these places. But the best part about buying from government auctions is that you can be sure that you are not being cheated which can never be ensured in the case of used car dealers or other auctions. Since profit is not the motive behind car auctions held by government agencies, you can be sure that you will not come across cars whose odometer has been tampered with or whose spares have been changed.
· Now that you know that government car auctions are the best ones to bet on, you should also know how to find out about where and when they are held. Generally government agencies advertise the date, time and venue of major auctions in the local press. However, this is not a mandatory practice and you should try to contact government and police departments in your area in order to find out about when and where such auctions will be held in your city or nearby. Another method of finding out about local car auctions is logging on to a website that provides such information. Nowadays, there are a lot of websites, which will tell you about when and where the best auctions are being held.
· Once you’ve found out about where and when a car auction is being held, then you ought to do a couple of things in order to get the best from such auctions. First of all, you should sit down and make a list of the types of cars that you might be inclined to buy. Include at least four to five cars and note them down along with their make and model. Next, call up a used car dealer and get him to give you approximate market values of the cars that are on your list. It is a good idea to be aware of the ex- showroom prices of these cars since these will help you in negotiating the deal better. Once you are ready with your list of cars and prices, it is time to visit the preview.
· Almost all car auctions give potential buyers a chance to inspect the cars that are being auctioned a day or two before the auction. Go to the preview and see if there are any cars that are on your lust which are being auctioned, if not, then it is best that you wait for another auction or select a good model from the ones that are being auctioned. When you go for the preview, it is advised that you take along a friend who is auto savvy or if you can afford one, then a professional car mechanic. Make these people check the cars you are interested to see if everything is in proper working order. Start the car and test drive it of you are allowed to do so.
· Based on all the information you have gathered, decide about which models you will bid for and set a highest possible bid for each, so that you do not get carried away while bidding. Keep your budget and the condition of the cars in mind at all times, and in all probability, you will be able to come away with a good deal.