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Buyers Tips for an Auto Auction

July 19, 2009

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. Many people purchase vehicles this way either for themselves or to sell at a profit. But unless you keep some things in mind the auction can turn into a nightmare.

Some of what can go wrong includes buying a bad car. Every car at an auction isn’t a hidden gem. Cars sold at such auctions are generally sold according to used car laws which tend to make it an “as is” sale. Remember the old Sesame Street skit in which a man looks over a car with “as is” in the window. The salesman responds “as is” to every question. 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.

People are given the chance to inspect the vehicles at auto auctions. If an auction won’t do that, run. Arrive early. Inspect and take a spin in the interesting autos. If you don’t know anything about cars, bring someone who does. If that can’t happen then test drive it to a quick inspection at a garage. It doesn’t take long to check key components like the engine and breaks. 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. It’s no different at auto auctions. The car’s value can be quickly eclipsed by excited bidding. 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. Phones with Internet access can bring this info to your fingertips while attending. Even for the car of your dreams, don’t bid more than its value.

It’s not hard to find bargains at auctions. Don’t go in blind, however. If a deal appears too good to be true, it is, even at an auto auction.

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