Looking for a great deal on a car? Try car auctions. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. A lot of people buy these cars either to drive themselves or to mark up for future sale. But unless you keep some things in mind the auction can turn into a nightmare.
Maybe the car isn't as wonderful as it seemed. The car won at auction might turn out to be a lemon. The rule of the auction jungle is “as is”. Remember the old Sesame Street skit in which a man looks over a car with “as is” in the window. Finally the man agrees to buy the car, pays for it, but when he opens the door to get into the car it falls to pieces. He exclaims “I want the car as was!” Don't be like that man.
Car auctions generally give potential buyers time to look over the cars. If an auction won't do that, run. Arrive early. Inspect and take a spin in the interesting autos. Bring a mechanic to provide an expert eye. If that isn't possible, at least drive the car for an inspection during the test drive. A good mechanic can provide a thorough inspection in a short time. Look for other issues such as dings or dents or rust .
The very nature of auctions leads to another common issue. People assume that the auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. Like other types of auctions, auto auctions can be the same way. Bidding might rise beyond the real value of the car. There are also fees to pay, so pay close attention. Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. No need to even look it up in advance since the information is online and phones can access it. It's pretty foolish to pay more for a car than it's worth even if it's an eye catcher.
It's not hard to find bargains at auctions. But come armed with information and expertise. There's a sucker born every minute. Don't be the minute man at car auctions.
|
|
|
![[Valid RSS feed]](http://www.hostmelive.net/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
