Planning to buy a car from an auction place? Be very careful while making your decision about buying the car from an auction place. There are various ways you can purchase the car from an auction place. You must be aware of public auction. There are other ways availabletoo. Let us try to understand various types of car auctions available to you.
Wholesale and Manheim Car Auctions - this car auction is not for you. Wholesale or Manheim car auctions aremeant for auto dealers, the licensed ones. Common man like you and me cant even attend this auction.
Salvage auctions - again, not meant for common public.These cars are in such a poor state that a mechanic or a pro in the industry can only dare buy cars from suchauctions. Dont ever think of bidding for a car in salvage car auction unless you are a pro in the same trade.
Government or Police car auction - here the cars for sale are those which have been discarded by the government agencies or those which have been confiscated by the police. General perception is that one can get a car at a lower price in such auction. You may be grossly wrong.First, the cars may be in such a horrible state that you may need lot of money to restore its original condition. Secondly, you may never know about the history of the car. Ensure that you have run through Carfax history report for the same. Last thing to remember - you may have to shell out commission to the auction agency overand above the bid price. Always keep almost 15-20% extra money ready than your bid amount
Online auctions - relatively a new concept in car auction. This concept caught up with the advent of internet, and caught fire through ebay motors, their car auction site. Online car auction offers the convenience of buying the animal from the sitting comforts of your home. However,dont get carried away by the claims and other bids for the car. It may be a frame work by other bidders. Problemswith online car auctions lies with the fact that you have to bid for the vehicle you havent seen. It is always better to run a price check in the local market for a similar car model.
If you still decide to enter into any of the auctionprocesses through any of these, look for history report and VIN for the car in question.
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