Getting a Deal at an Auto Auction
It’s easy to find discounted car bargains at a public auto auction. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Whether it’s for personal use or resale, a lot of people purchase vehicles in this manner. This pleasant experience, however, can quickly turn sour if you don’t know a few things.
Maybe the car isn’t as wonderful as it seemed. The car won at auction might turn out to be a lemon. Cars sold at such auctions are generally sold according to used car laws which tend to make it an “as is” sale. The old children’s show “Electric Company” taught children about this with a man considering a used car with an “as is” sign in the window. He makes a cursory look at the car, but every question is met with “the car is as is” from the salesman. After the sale is final the buyer tries to drive the car, but the doors fall off and the engine explodes. He exclaims “I want the car as was!” Don’t be like that man.
Auto auctions generally give potential buyers time to look over the cars. Don’t make a purchase or even a bid at any auction that won’t accommodate that practice. Spend time at the facility before the auction begins. Look around and test drive the cars of interest. 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. Anyone with a decent eye can check the body, interior and other physical elements for wear and tear .
Another problem is inherent in auctions. Auctions can be a great deal, but the price could also be more than common retail. That holds true for auto auctions too. The bidding can easily escalate to well over the car’s value. Be very careful because fees will be added to the final bid price. Know the prices of similar models in similar conditions from Kelly Blue Book or other sales data. With Internet enabled phones and the like it’s now easy to look up this information while on site. Even for the car of your dreams, don’t bid more than its value.
Remember, auctions can be great deals. But keep your eyes and ears open. If a deal appears too good to be true, it is, even at an auto auction.