The classic car auction events are common due to the economic downturn and tightened credit rules. More and more people are turning towards car auctions to get the reliable rides at affordable rates. It is not necessary to attend the wholesale car auctions to get the cars at the best price, while the car auctions open to the public also presents the best deals to grab.
However, in the car auctions, varied range of cars come that includes repossessed cars from the bank, sports car, flood junkers and more. Sometimes, in a bid to buy the luxury car at cheaper rates, the buyers get duped being unaware of the expensive repairs.
Getting the best car at the auction is harder, but not impossible. A few tips are rounded up that buyers must follow before they bid to get saved from the chances of landing a lemon:
- Everything that shines is not gold
Every year, millions of cars are traded in the auto auction that may be repossessed or leased. More often, the cars are represented in the excellent condition by buffing and polishing, but it does not mean they are the best buys and as good as from inside when driven on the road.
Make sure the visual inspection is not enough and look at the telltale sign of repairs to ensure you will not get pose to the mechanical challenges that car will show up after the purchase.
- Keep hefty sum with you
No matter whether you are buying the car at online car auction or at the onsite auction, you have to pay the check once your bid wins. Even if you are planning to pay for the car through the loan, then getting the deposit ready is must or with credit cards, you need to make certain that the cards are acceptable or not.
These are good alternatives, but buyers need to keep the dollars in the pocket ready to pay the taxes, title transfer, registration fees or car insurance.
- Stay cautious! Sellers hide the car’s details
At public auctions, no guarantee or warranty is provided for the used cars. As a lot of lemons out there, you need to inspect the car thoroughly or bring a friend who knows the nitty-gritty of the car. Many times, it is observed that the sellers make the engine appear clean and sound, but the reality is quite different.
Stay alert to not let the car seller trick you and get stuck up buying the wrong car after spending a bundle.
- Beware of AS IS cars
The vehicles sold in AS IS condition are generally available at a less price, but packed with the diverse range of repairs about which buyers are uninformed. Besides, such cars are neither come with any sort of warranty or can go under any legal recourse, so it’s better to not bid at first. Otherwise, there are chances that buyer may fall into the heap of trouble.
- Do necessary homework
Be available at the auction site before the auction starts to figure out the cars and decide which one is your favorite on the lot. By arriving earlier, you will get a chance to view the list of cars at the auction and inspecting them. Also, in the middle of bidding, don’t roam around, if you seriously want to purchase the car.
- Don’t overbid
Pinning all hopes on one vehicle and keep on bidding to get the car at any cost is not a worthy decision. Instead, the buyer needs to closely watch other bidders because at times the bidders are self-appointed by the seller to pump up the car’s price. So, beware and make the bid which you can afford.
Additionally, if you are buying the car at auction from the place far away from your home or in the other state, then the shipping budget cannot be overlooked.
Presently, leveraging the automotive dealer solutions or organizing car auctions are the ways to move the low inventory vehicles by the auto dealers, government or other sellers. An average Joe always willing to purchase the car from the auctions to fulfill their dream of making a drive at the best price, but the lemons lurking in the dark try to spoil it. In order to not let this happen, the suggestions are offered that enable buyers to catch the lucrative deal. Follow the tips to bid like a pro!