Nov 19 2008
Getting a Deal at an Auto Auction
An auto auction is a great way to purchase a car at a deep discount. 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.
One possible problem is that the purchase might not be a good one. The car won at auction might turn out to be a lemon. The rule of the auction jungle is “as is”. Even children have been taught about “as is” through a television cartoon showing a guy buying a used car. The salesman responds “as is” to every question. Once the sale is made and the man tries to enter the car, it shakes itself apart. ”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. Don’t make a purchase or even a bid at any auction that won’t accommodate that practice. Arrive early. 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. 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 .
Auctions also come with a built in problem. 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. That holds true for auto auctions too. Bidding might rise beyond the real value of the car. Be very careful because fees will be added to the final bid price. Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. No need to even look it up in advance since the information is online and phones can access it. It’s pretty foolish to pay more for a car than it’s worth even if it’s an eye catcher.
Remember, auctions can be great deals. Don’t go in blind, however. There’s a sucker born every minute. Don’t be the minute man at an auto auction.
Mail this postPopularity: 6% [?]
Related Posts
No related postsNo responses yet
