Auto Auctions: What You Need to Know to Get a Good Deal

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Auto auctions present a great opportunity for consumers to get a quality vehicle usually at a below-market price. However, you need to follow some basic guidelines. To decide whether to bid on a car, you should understand the pros and cons of buying a car at auction. And, you need to know how to thoroughly inspect vehicles before bidding. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Auto Auctions.

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Auto Auctions: What You Need to Know to Get a Good Deal

  1. 1. Auto AuctionsWhat You Need to Know to Get a Good Deal
  2. 2. Auto Auctions•Auto auctions presents great opportunity to getbelow-market priced vehicles• Need to follow basic guidelines; know pros andcons; thoroughly inspect vehicles before buying acar at an auction –Ex: knowing how to tell if vehicle has been damaged, auto auctions are always a buy “as-is” transaction with no warranties
  3. 3. Auto Auctions•Do the following before auction day: –Be proactive and cover your bases so you protect yourself. Get a Carfax report, make a list of VIN of cars you’re interested in –Have funds lined up to pay for purchase, inquire at auction house about payment requirements, know if you need to pay buyer’s premium –Beat crowds get to auction early for inspection
  4. 4. Auto Auctions•Do the following before auction day: –Take advantage of auction services such as inspection times for evaluation of potential vehicles –Bring Kelly Blue Book, NADA guide or Edmunds book to inspection periods. Access websites for pricing information on smartphones
  5. 5. Auto AuctionsPhysically Inspecting Vehicles at Auto Auctions•Open doors, hood and trunk, look for VINstickers make sure they match•Tires – uneven tire wear indicate an alignmentproblem•Wheel rims – look for damage on side of vehicleonly
  6. 6. Auto AuctionsPhysically Inspecting Vehicles at Auto Auctions•Airbags – make sure covers are not fake•Body – look out for extreme scratches, dings,dents; bumper should be free of issues; differentthickness of paint or traces of over spray onwindshield; engine compartment; inside dooredges and seams could indicate major body work;left over masking tape
  7. 7. Auto AuctionsPhysically Inspecting Vehicles at Auto Auctions•Carpeting – new carpet could signal a flood•Windows – make sure power windows operatecorrectly•Mileage – know appropriate mileage level of car’sage•Mechanical Operation – start car and inspect forrunning operation; look for leaks
  8. 8. Auto AuctionsFinal Advice for Buyers at Auto Auctions•For winning bids, make sure you have the title,look out for titles with “in transit”•Check and see if vehicle has “rebuilt” title, otherproblem titles include: junked, salvaged, flooded,fire and more. If a problem title, value of car willdrop by 30 percent or more
  9. 9. Auto AuctionsFinal Advice for Buyers at Auto Auctions•Auto auctions can be very exciting events andinexperienced bidders can get carried away.Regardless how much you want a car, never paymore than market value•Do your homework and thoroughly inspectvehicles. Also follow your insticnts
  10. 10. Auto AuctionsAbout the AuthorDeb Weidenhamer is President of Auctions SystemsAuctioneers & Appraisers, Inc., based in Phoenix,Arizona. They specialize in auctions and professionalappraisals.Visit us at http://www.auctionANDappraise.com or call800-801-8880 for more information about Auto Auctions.

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