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.
2. Auto Auctions
•Auto auctions presents great opportunity to get
below-market priced vehicles
• Need to follow basic guidelines; know pros and
cons; thoroughly inspect vehicles before buying a
car 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. 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. 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. Auto Auctions
Physically Inspecting Vehicles at Auto Auctions
•Open doors, hood and trunk, look for VIN
stickers make sure they match
•Tires – uneven tire wear indicate an alignment
problem
•Wheel rims – look for damage on side of vehicle
only
6. Auto Auctions
Physically 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; different
thickness of paint or traces of over spray on
windshield; engine compartment; inside door
edges and seams could indicate major body work;
left over masking tape
7. Auto Auctions
Physically Inspecting Vehicles at Auto Auctions
•Carpeting – new carpet could signal a flood
•Windows – make sure power windows operate
correctly
•Mileage – know appropriate mileage level of car’s
age
•Mechanical Operation – start car and inspect for
running operation; look for leaks
8. Auto Auctions
Final 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, other
problem titles include: junked, salvaged, flooded,
fire and more. If a problem title, value of car will
drop by 30 percent or more
9. Auto Auctions
Final Advice for Buyers at Auto Auctions
•Auto auctions can be very exciting events and
inexperienced bidders can get carried away.
Regardless how much you want a car, never pay
more than market value
•Do your homework and thoroughly inspect
vehicles. Also follow your insticnts
10. Auto Auctions
About the Author
Deb Weidenhamer is President of Auctions Systems
Auctioneers & Appraisers, Inc., based in Phoenix,
Arizona. They specialize in auctions and professional
appraisals.
Visit us at http://www.auctionANDappraise.com or call
800-801-8880 for more information about Auto Auctions
.