Car Auctions - A Quick Read
Posted August 23, 2009 – 11:39 pm in: AutosCar auctions are great ways to purchase cars at deep discount. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Many people purchase cars this way from car auctions 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. Every car at an auction isn’t a hidden gem. Cars sold at such auctions are generally sold according to used car laws which tend to make it an as is sale. 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. Don’t let that happen to you.
People are given the chance to inspect the vehicles at car auctions. Avoid the auctions that don’t. Arrive early. Inspect and take a spin in the interesting autos. Always have on site car knowledge, meaning bring a mechanic who knows about cars if you don’t. If that isn’t possible, at least drive the car for an inspection during the test drive. 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.
Another problem is inherent in auctions. People assume that the car auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. It’s no different at car auctions. 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. With Internet enabled phones and the like it’s now easy to look up this information while on site. Don’t pay more than the car is worth, even if it’s a coveted antique.
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 car auctions.
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Tags: car auction price, car auctions, car auctions sales, internet car auctions, luxury car auctions