How To Buy Cars Cheap At Auction
All you need to know and advice on how to get the best deal when buying a car at auction
Buying cheap cars at auction used to be the domain of the car dealer but in recent years with the tightening of auto credit and the rise of online and offline car sales sites more people are looking for cheap cars and heading off with their hard earned money to try and get a bargain at one of the many used car public and government auctions. Unfortunately as the market grows the chances of buying a lemon or a car with a dubious history has also increased.
There is a total difference between public and Government Auctions
Are attended by dealers where they sell and buy their stock and they know what is a good deal and what is not there are also lots of memners of the public looking for a cheap deal. The problem therefore arises that when you have more people bidding on the same cars the price rises with the competition often on a car that may well need some work. My advice unless you have the tools and ability to fix any issues you find after you obtain a car at a public auction or you have a friendly mechanic on hand is to avoid them. Public auctions are where the dealers offload their rough part exchanges or low value repo vehicles end up orthey buy cars that they can repair if needed and that they know will sell quickly.
Yes you have the chance of buying a good standard car cheap but unless you are willing to take a chance you may well end up buying somthing that will cost you more in the long run.
Government Auto Auctions
That not to say that Gov Auctions don't have their pitfalls they do but generally the vehicles being sold have reasonably known and detailed histories and wil have been better maintained and serviced. Government car auctions are also the place where you can pick up cheap cars that have been confiscated from criminals tax defrauders and drug dealers by the state, police or other government agencies.
Government auctions are where you can usually purchase a base model higher than average mileage car cheap but you will need to know what to look for before bidding.
Interest in these auctions has boomed as the economy stays stagnated and credit rules have tightened. Buyers who formerly could qualify for auto loans on new or used cars now find they need to shop with cash.
There are two types of auctions: private auction companies who sell cars from dealerships or private companies offloading their company cars or Government auctions that are fully open to the general public where the police and other Government departments sell off their company cars and vehicles.
Both types of car auction are full of potential pitfalls so below are some quick tips for getting the most out of either.
At government auctions you will have a good idea orf what you will be getting, quality cars often with higher than average mileage but regulary serviced and maintained. At an auction you don't get to drive the car before you bid on it, so you'd better have a good eye be cynical, wary, pessimistic and suspicious and remember you won't be the only bargain hunter out there. Visit a auction a couple of times before you buy and get to see how it works. Know the list price of the cars that are being sold and dont be off put by minor bumps and scrapes.
Public auctions as I have alraady stated used to be good places to buy cars but not any more The only people who should go to public auctions are those who know the trade and have good mechanical knowledge. Yes you can get a bargain which with a little work could see you saving $000's on its list price but if you can't fix a car, don't go to a public auction as there is a higher chance these days of buying a car that even the cheapest bargain basement car dealership would not buy.