Car Buying Time! - How to Take Advantage of Used Car Auction

Car Buying Time! - How to Take Advantage of Used Car Auction

by Gerry Restrivera

Auctions for used cars can provide you with mounds of opportunities to buy a good car without spending too much money. It is very important, however, to prepare yourself before getting into an auction so that you would be able to really get a good deal and not end up wasting your money on a badly conditioned car. It is important for you to know how to take advantage of used car auction to make the most out of your car buying. Here are some important tips for wiser spending on used car auction.

Before going to a used car auction, you have to be sure about the type of auction you are going into. Usually, car auctions are organized by the police, the government or auction lots. The cars sold here may come from the surplus of government vehicles, repossession, or impounding. You have to understand that you are buying cars as is, and there are no warranties. Returning the car after buying it would be very difficult and thus when you buy one, you really have to sure of its quality.

Check out the schedule of the used car auction. A good auction should have a period for preliminary inspection and you should definitely go there to be sure that the auction is worth going to. While you may not be able to test drive cars during the inspection you can definitely take a look at every nook and cranny of the cars and it is best to take advantage of this opportunity. Mark on your mind 3 or so cars that you would consider so you would have just the right number of options for bidding during the actual used car auction.

List down the Vehicle ID numbers of the cars that you seem to be interested in. Once you get home, you can search for the Vehicle ID on Carfax to check out its history report. A minimal fee would be charged, but this is definitely worth the search because it will let you see how much the car has been use, if it has a clean record, or if it has been taken cared of by its past owners.

When you go to a used car auction, bring a long an auto guide such as the Kelley Blue Book so that you can go about searching for cars with a guide at hand. Such publications are useful in giving you the values of many car models during trade-in, which could help you in finding out whether you are giving a good bid or not. Have in mind all the costs of bidding - you have to pay buyer's premium (from 5 to 10 percent of the bid), or a registration fee for the auction.

Have a working budget when buying a car at used car auction. By setting a ceiling for your budget, you will prevent yourself from bidding more than you can afford. Some people tend to overbid out of their pride to win a bid even if the car does not really cost as much.

Car auctions are great venues to find cars if you are on a budget. But before getting into one, it is important to know how to take advantage of used car auction to be sure that you would not end up losing both your money and the opportunity to drive a decent vehicle.