Vehicles that are only two or three years old can be a better value than buying a new car directly from a dealership. Auto auctions, like those listed on the DexKnows auto auctions site, are a good place to start if you’re in the market for a quality used car. Read the tips below to avoid being duped into buying a lemon.
On its website, Popular Mechanics advises against public auctions unless the buyer can find out about any mechanical problems prior to purchase and then be qualified to do the work themselves. It is true that estates sometimes put rare automobile antiques and classic cars on the auction block. Before placing a bid at an estate auction, check if the vehicle comes with a well-documented history. Be aware that new and used vehicles sold by auto liquidators tend to be vehicles with high mileage or may have a shady history because the stock originates from financially stressed car dealerships, repossessed vehicles, seizure from criminals or vehicles that have been deemed “totaled” by insurance companies.
There is a period of time before every public auction when consumers can view all the vehicles for sale. Jot down notes on the cars that interest you and their vehicle identification numbers. Ask questions about the car’s history and ask if the auction will run a background check. If this service isn’t available, it’s worth the fee to track down the vehicle history on your own using Carfax. Remember, there are no warranties because all vehicles are sold “as is.”
Register by signing in at the car auction if you plan to bid. Come with a couple of forms of identification and your checkbook or other form of acceptable payment. You’ll be given a number for bidding. Keep this number under wraps until you are ready to use it. You’ll learn quickly enough that bidding is a serious business.
Take time before you go to bone up on bidding procedures because it can fly by fast and furious. Remember, all bids are final. It’s a common practice for car auctions to require a minimum deposit of around $500 to protect themselves from buyer’s remorse. If you try to pull back from the purchase, they will keep your deposit.
To avoid paying more than you should, bring along your smartphone or a copy of a value guide such as Kelly Blue Book or NADA Guides. Once you know the value of the vehicle you have your eye on, having this information will help you get the best deal possible.
Because not all auctions are the same, it’s important that you identify the type of auction you want. The information at DexKnows auto auctions will help you to find the type of auction houses in your area.
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