Car auctions are often an overlooked outlet for purchasing vehicles. Buying at auction could pan out to be a more economical choice than going through a traditional car dealer, but for inexperienced auction participants, this method could be overwhelming. Knowing how to find the best auction with cars for sale can be a rewarding adventure. Here is a brief overview of how to have a successful auto auction experience.
Buying a car at an auction requires some homework before the big day. Look up local auctions and study the published list of vehicles available. Pinpoint some vehicles of interest and use the provided information (VIN, make, model year, etc) to do some background research to determine whether or not the vehicles are worth purchasing. In your research, you will be able to find a vehicle history report.
Take for example an auto auction in Florida. Auto Auction Mall sells used and salvaged cars at wholesale prices. They give shoppers access to dealer-only car auctions through an online marketplace every month. Auto Auction Mall offers U.S. buyers multiple financing options and will ship vehicles worldwide. Interested buyers can see a full list of inventory online and once they are ready to bid, an agent will help facilitate the sign-up and deposit process. Auto Auction Mall’s online marketplace allows for participation in every major salvage and insurance auction throughout North America for dealer rates.
It is important to understand that cars up for auction have been acquired for many reasons and all vary in condition and care. Most cars come from municipal impound lots, meaning they have been towed, abandoned, or seized. Some may be former rental cars or fleet vehicles. For this reason, it is important to either know a little bit about cars or to bring someone along who does know something about cars. Not all auctions give bidders the chance to test drive cars, but they may offer limited-time guarantees on the condition of the car. There is no federal regulation that requires sellers to be up front about flaws, damages, or recall issues with used cars.
Set a budget and stick with it. When doing background research on vehicles of interest, find out the current market value and get an idea of how much to bid. When setting a budget, bear in mind that repairs will likely be needed sooner rather than later, so be prepared to factor in repair costs. If purchasing a non-running car that needs to be towed, also factor in this cost.
Know the auction’s participation rules. Find out if it is necessary to register to participate before a certain date, and what forms of identification are required. Understand the payment terms, for example, such as if the auction accepts cash or credit, and if cashier’s checks or personal checks are accepted.
The Day Of
Try to arrive to the auction early and scope out any vehicles of interest. Thoroughly examine the vehicles for cosmetic issues that may not have been disclosed. If the VIN was not available on the listing, find it at the base of the windshield or driver’s side door and look up the car facts. If the VINs on the car do not match, that is a red flag that the car has been puzzled together from parts of other vehicles.
Keep an open mind and be flexible when it comes to auctions. There is a certain inventory available, and it is not a place to be picky. Consider what aspects of a car are most important to you and focus on the desirable criteria. Prioritizing criteria will give more buying options in the event that a specific car does not work out.