While car auctions all over the country are gaining in popularity, Chicago car auctions have already built their reputation as being among the best car auctions in the country. For one, car auctions in Chicago, of one kind or the other are held almost everyday at a number of places. And the best part about these auctions is that most of them have a large variety of cars and models to choose from. So if you live in Chicago or any other nearby area and are on the lookout for a used car, then you should definitely go out and check a couple of these car auctions. Some of the few things that you should expect at a car auction are:
· You will get the best possible deals at Chicago car auctions compared to what any used car dealer or showroom will offer you. Therefore, before you go to any car auction, especially if it is a government car auction where seized and repossessed vehicles are being sold, then be prepared to be shocked by the prices. The starting bid on a number of cars in great condition could be drastically low, even touching ten to twenty per cent of the actual market value of the car. However, as more and more people will bid for such models, it is good idea to be aware of the market price of all the cars that you want to or plan to bid for. This will help you set a budget for the maximum possible bid that you will be able to make.
· In order to bid in a Chicago car auction, you will first have to register with the auctioneering authority. You will need to be at least eighteen years of age and possess your own driver’s license in order to be able to bid in the auction.
· In almost all Chicago car auctions, there will be a preview or testing period which will be held before the actual auction takes place. This is normally held a day or two before the auction and this is the time when you can go and check out the cars that are available for sale and also check their condition. While some auctioning authorities may let you test drive vehicles, others might not. Remember that cars sold in auctions are sold on an “as is” basis and therefore you should take maximum advantage of the preview period to check out the cars you are interested in thoroughly. Take along a friend who knows cars well or better still, take a mechanic with you to the preview. Let him or her examine any car that you want to bid on properly and give you a detailed report about the condition of the car that you are planning to buy. Checking the engine, radiator, tires and brakes is extremely important, since any problems related to these parts might end you costing a lot more than you may be able to save because of the auction. It is advised that you also take the Vehicle Identification Number of the cars that you want to bid for and check their history from a service that provides details regarding ownership and accidents etcetera.
· Once you are fully aware about the condition of the cars or car that you want to bid for, decide your budget accordingly and set yourself a maximum bid amount. Make sure that you do not exceed this amount no matter what. Remember that there will always be other car auctions in Chicago and you might be able to land a better deal elsewhere.
· In case you win the bid, then be prepared with the payments. While you will be given enough time to pay for your car, it is best that you have enough money in your debit card or credit card account left to make the payment promptly. While most Chicago car auction organizers will accept many different methods of payments, hardly anybody will accept a check because of increasing instances of frauds and bouncing checks.
· If you are able to pay for the car you have won the bid for at the same time that you have made the winning bid and all the payments clear through, then you will be given possession of your car with its keys right then and there. You will be allowed to drive home with your new car on the same day that you have bid for it .