You are about to go to your first car auction. You can feel the excitement in the air. There are so many different cars to choose from. But do you really know what to expect at a car auction? Do you know the legalities that occur? Many people find that they get in way over there heads. If this is your first car auction, it is best you come prepared.
There are a lot of things you need to do and a lot of things you need to pay attention to. First off, before you go, make sure you have enough money in your bank account. All cars purchased at a car auction must be paid in full. You also need to bring your drivers license and any other form of ID. This is needed to buy the vehicle and to do the title work and registration.
When you first get to the car auction you should always make notes of the cars you are interested in. Then, if you can, go to kellybluebook.com and check the retail value of all of the vehicles you are considering for purchase. This way you know what to start out with when you make your bid. You also need to keep in mind that many vehicles have a reserve price. This means that the vehicle has a minimum price to be sold at. If it is too high, then do not bid on it. Be sure when you do bid that you do not get into a bidding war with other bidders. Never bid more than you can afford. If the bidding war begins, just walk away from it. Oftentimes, it is every man for himself.
Before you even begin to bid on cars, you need to see if the vehicle is truly a good buy or not. Many vehicles at a car auction could have been previously damaged. An example of this is in Texas and Louisiana many cars were severely damaged by flooding due to hurricanes. These vehicles were sent to a car auction and the buyers more than likely had no idea the vehicles had flood damage. You may also wish to take a mechanic to the car auction. A mechanic is an excellent idea at a car auction. This is because they can see where someone may have tried to hide repairs and damage that the vehicle might have incurred. Lastly, you can get a free Carfax vehicle history report on the vehicle if you obtain the vehicles identification number (VIN).
Always remember, at a car auction vehicles are sold “as is” and they do not come with a warranty. Be sure to keep all of these tips in mind to protect yourself from a bad purchase and a bad decision. You are supposed to go to a car auction to get a great deal on a car and to save money. With the proper frame of mind, this can be easily accomplished.