Car Auctions – An Introduction

August 27th, 2009 by admin

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Looking for a great deal on a car? Try car auctions. There you’ll find everything from luxury automobiles to junk projects. Many people purchase cars this way from car auctions either for themselves or to sell at a profit. A little information can make an auction an even better experience.

Some of what can go wrong includes buying a bad car. Every car at an auction isn’t a hidden gem. Keep in mind that what you see at an auction is what you get. Remember the old Sesame Street skit in which a man looks over a car with “as is” in the window. As he inspects the car he asks a lot of questions to which the salesman always responds “as is”. After the sale is final the buyer tries to drive the car, but the doors fall off and the engine explodes. “I want the car as was!” screams the angry driver. Nobody wants to become that guy.

Reputable car auctions give buyers ample opportunities to check out the cars before bidding or purchase. Avoid the auctions that don’t. Spend time at the facility before the auction begins. Look around and test drive the cars of interest. Always have on site car knowledge, meaning bring a mechanic who knows about cars if you don’t. If that isn’t possible, at least drive the car for an inspection during the test drive. Decent inspections take only a few minutes to check the important elements of the car including the motor, belts, brakes, and the like. Anyone with a decent eye can check the body, interior and other physical elements for wear and tear.

Another problem is inherent in auctions. People assume that the car auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. It’s no different at car auctions. The bidding can easily escalate to well over the car’s value. Add the fees often associated with the auction and it means great care must be taken to know the real value of a car. Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. With Internet enabled phones and the like it’s now easy to look up this information while on site. Don’t pay more than the car is worth, even if it’s a coveted antique.

It’s not hard to find bargains at auctions. But keep your eyes and ears open. There’s a sucker born every minute. Don’t be the minute man at car auctions.