Top Tips on How to Buy a Car at Auction
Are you a bargain hunter and have you ever heard of the word auction? Nothing more that can excite the former than buying goods at an auction. But can you really get a good deal when it comes to buying an old car at auction?
There is a high possibility that you can find some good deal when you want to buy a car at auction. The reasons why auctions are available is to move cars that failed to sell elsewhere for some reasons. These cars are vetted by pros before they are placed at auction. All this is to make sure the cars will have a reasonable bidding price.
However, at an auction you need to keep in mind that there is less time to do a driving test therefore, you should be wary of that.
Buying a car at auction is not a bad thing at all. Nevertheless, it can turn nasty if you don’t know what you are supposed to do during the auction. Therefore, that’s why we are going to share with you some tips on how best you can enjoy the bidding process during an auction.
What you need to do
Let’s take a few moments to share with you some of the greatest tips on how you can get some good wheels at auction.
Choose the right auction
Even though there are various online auctions such as eBay Motors, it’s not all the time that you will find the good deals. Some of the best deals are available at brick and mortar auctions. In most cases, the vehicle will be selling for trade-in price. So instead of paying $13 000 on a ford with 10 000 miles you might get a good deal at an auction for $8 000.
Watch closely before you bid
Soon after you have found a great location auction, you need to witness the process several times before you make any bid. You really need to get comfortable with the auction and always take note of how the bidding process takes place. That alone will allow you not to make hasty decisions.
Nevertheless, you will also need to listen to the tempo of the auctioneer’s delivery as the process is in motion. That alone will train you on how you should react during the bidding process. You don’t want to get yourself a scrappy car therefore there is a need for you to pay attention before placing any bid.
Assess the risk
If you are doing the auction process, you really need to assess the risk. This will give you an insight to see if the deal is worth taking or not. To make your life easy, you need to make use of the spotlight system. This is available both online and at the auction house itself.
- Green light – this means the vehicle has no clear defects.
- Yellow light – vehicle consists of well-known issues and is not subject to settlement.
- Red light – Vehicle sold.