There’s really no great mystery about why people get excited when they find a way to save money on items that they need or want. And, with big ticket items like Cars, even saving only 5 percent off the ticket price can mean saving several hundred dollars. One of the best ways to enjoy huge savings, in the realm of 20% to 50%, is to attend a public auto auction where you can get a steal of a deal on seized or repossessed Cars.
However, if you are thinking about going to a car auto auction for the first time to get a new vehicle for the family, then you do not want to go to the event without the proper knowledge and preparation. Without understanding the process and being properly prepared before going to motor Car Auctions, you could actually end up getting yourself into a bad deal and spending more money than if you had just shopped at a traditional car dealership.
If you want to avoid getting burned the first time to try to buy a car at a used car auction, then it is a good idea to follow the advice of others who are experienced public auto auction bidders. With their tips and expertise in mind, you will have a better chance of getting a super deal on a great car.
First of all, people need to understand some of the basic facts relating to public car auction proceedings. Most of these motor Car Auctions have vehicles that were seized by a government agency, such as the police, DEA or IRS, or that have been repossessed by a bank or financial institution. All of these used vehicles are sold 100% “as is” and they do not carry any kind of warranty or guarantee. Therefore, any problems with the car simply have to be dealt with by the winning bidder, who will have no recourse with the seller.
Also, if you get the winning bid, you cannot return the car as all sales are absolutely final. Some people have tried to get a reimbursement for a vehicle that turns out to be a “lemon,” yet this is extremely difficult to do because the car auction houses expect that bidders know exactly what they are getting themselves into before placing a bid.
Anyone who bids at public auto auctions also needs to keep in mind that you don’t only pay the amount of the winning bid. On top of the bid price, the winner must also pay a buyer’s premium that will equal anywhere from five to ten percent of the amount of the bid. This additional money pays for the services of the auction house and auctioneer. In most states, you will also need to pay for a license, registration and transfer fee.
If you are considering making a vehicle purchase at a public auto auction, then it is best if you take someone along with you who has a good understanding of motor vehicles and has the experience to quickly assess the condition of the vehicle you want to bid on. Used Car Auctions have a brief period of time for inspecting the vehicles that all bidders should take advantage of. With the proper understanding of the process and taking time to inspect the vehicle, you have a good chance of picking up a real bargain at a car auto auction.
Buying a car is always a big responsibility. But making that choice on where to buy your car is a huge decision that needs to be thought through carefully. There are many choices on where you can buy your next automobile. You may buy it from a car lot or even off of EBay but have you considered local auto auctions as a place to get your next used car? Auto auctions are gradually turning into a very popular option to buy a vehicle. But there are some things you absolutely should consider before making such an important purchase from an auction. Are you actually aquiring the best deal for your hard earned dollars? You have to ask yourself what happens if anything goes wrong? These are questions that you have to think about when it comes to your new purchase. The rest of this article we will focus on what care auctions actually are and in what ways they can either be a benefit or a disadvantage in your quest for a new care.
Are auto auctions open to the public?
Most auto auctions are open to the public. This is especially true of vehicles that are being auctioned off on online websites. You may be required to register with the auction house before you begin bidding though. They will verify your identity and verify that you have a way to pay for the automobile after you have won the auction. There are some auctions, though, that are closed to the public. These auctions are only open to car dealers. The best way to find out if an auction is open to the public is to call the auction house and ask.
What is a salvaged title?
A salvaged title is a title that is given to a car after it has been wrecked. This is does not mean that the car has had a little fender bender. It means when there has been significant damage to the point where the insurance company has decided it is irreparable. Many mechanics will apply for a salvaged title after they have restored the car to its running condition. It will have a new Vehicle Identification Number posted on the car as not to confuse it with its previous title. Most salvaged Cars when restored are quite good vehicles. But there are some that are not. You are taking a huge chance when you buy a vehicle that has a salvaged title.
Where do Car Auctions actually get their automobiles??
Auto auctions obtain their automobiles from various different sources. The Cars may be from repossessions foreclosed by the lender or the bank. There are some automobiles that originate from private owners who are looking to seel their auto in auction type of environement instead of through a newspaper. Ebay is an online auction site that has become very popular with quite a number of dealership who sell their inventory through that website.
Am I allowed to test drive the Cars at auto auctions?
That depends on the particular auto auction and who you are dealing with. Of course if you are buying your car online from an auto auctions site you will be unable to test drive the car unless you are local to the seller. Many auto auctions do not give the opportunity for buyers to test drive the vehicles because of the sheer number of buyers that would want to do so. You have to take this into account when you are dealing with auto auctions. Many times you have to rely on what the auctioneer lists as defects and take him or her at their word.
For great education on auctions go to Federal Government Surplus Auction also Boat Auction and at