Tips For Buying Cars In Auto Auctions
October 3, 2012
Auto auctions are a great way to buy an affordable car, but there are several things for consumers to keep in mind. Most auctions sell a variety of vehicles. Trade-ins are featured at many lots, and the vehicles may come from local dealerships. These cars are often in great shape. They usually have high miles, and it is cost-prohibitive for dealers to sell them on their lot. For this reason, they are taken to local auctions where bidders can find a bargain.
Here are seven tips for buying a great car at auto auctions:
1. Be honest: Mechanically inclined consumers can usually find a great car at a car auction, but the vehicle may need work. A buyer should seriously consider his or her mechanical aptitude, time and the tools needed before purchasing a vehicle that requires extensive repairs.
2. Visual inspections: Many cars are sold with minimal inspections, and it is essential to pay close attention before bidding. Checking the overall condition of the car can be difficult, but looking for signs of owner maintenance makes the job easy. Oil puddles, scored brakes and chipped paint are easy to spot. These damages are usually omens of deeper trouble, and a purchase price should be developed accordingly.
3. The eyes are not everything: Many vehicles may have been touched up. Some cars have even been involved in extensive accidents, and their safety may be seriously compromised.
4. Check the VIN: Most vehicles have the VIN located at the base of the windshield, on the door and in the trunk. Checking for matching numbers is essential. Cars that do not have the same number in each area may have been involved in serious accidents and rebuilt.
5. Know values: Most repossessed car auctions publish the vehicles that are for sale before the event. Choosing several cars to bid on is one approach. Researching the value of five or 10 vehicles makes it easy for buyers to familiarize themselves with the choices.
6. Watch other bidders: Consumers can learn a lot by paying attention. Lots of auctions are visited by small dealerships that buy and sell cars for a high profit. These experts are more familiar with the industry, andthey usually have a list of cars on their bid list.
7. Avoid overbidding: Cars are usually auctioned for a reason. Sellers try to get the most from their vehicle, and many buyers get caught up in the bidding process. Set a firm top price at the start and stick with it.
Steven Pierce is a guy who has tons of general knowledge that makes him a credible source of information about cars, business and marketing. Stay tuned for his smart and economic tips and guides on Auto Auctions, visit http://www.southsideautoauctions.com.au/ .
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