It’s easy to find discounted car bargains at a public auto auction. There you’ll find everything from luxury automobiles to junk projects. 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. Every car at an auction isn’t a hidden gem. The rule of the auction jungle is “as is”. 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. As he inspects the car he asks a lot of questions to which the salesman always responds “as is”. Finally the man agrees to buy the car, pays for it, but when he opens the door to get into the car it falls to pieces. The unfortunate buyer shouts “I want the car as was!” Nobody wants to become that guy.
Reputable auto auctions give buyers ample opportunities to check out the cars before bidding or purchase. Don’t make a purchase or even a bid at any auction that won’t accommodate that practice. Arrive early. Inspect and take a spin in the interesting autos. If you don’t know anything about cars, bring someone who does. If not, then during the test drive bring the car to a mechanic for inspection. Decent inspections take only a few minutes to check the important elements of the car including the motor, belts, brakes, and the like. Anyone with a decent eye can check the body, interior and other physical elements for wear and tear .
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. Like other types of auctions, auto auctions can be the same way. The bidding can easily escalate to well over the car’s value. Add the fees often associated with the auction and it means great care must be taken to know the real value of a car. 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. Don’t pay more than the car is worth, even if it’s a coveted antique.
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.
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