Auctioning for a Car: How to Do It the Right Way
TV shows that centre on the repair, improvement and sale of a promising oldie have made many of us want to try and remodel a vintage car of our own. Still, there’s a crucial element of the process that precedes the whole show. You can’t really succeed in your endeavour unless you make a smart and informed purchase at a legitimate car auction.
Due to the precarious economic situation around the world, more and more people are deciding to search for some affordable automobile at one of these events. We have decided to help you cruise through the procedure more masterfully with several pro tips.
It seems that an increasing number of buyers have become aware of the fact that second-hand car shops are selling vehicles that were obtained at car auction. Going directly to the source will allow you to save the money that second-hand dealership add to the original price.
Hundreds and even thousands of dollars can be put aside if you do well at auction. You can even make use of part exchange deals and pick one of the models that stock dealerships are flushing out to make room for new models.
Thorough inspection and expert help
Break the ice and shake off the “stage fright” by attending one of these auctions and get the feel of the atmosphere and the mechanisms before the actual purchase day, advise the guys behind a popular platform for online car auctions. Try and make up your mind concerning the type of a car you’d bid for then, and jot down the price range of your favourite models.
Considering we don’t really know much about the car we’ve set our eyes on, asking the right questions can shed a light on the car’s true condition. If you don’t know much about cars and auctions, it’s best to bring along a knowledgeable friend or a trusty professional. Show up a few hours prior to the sale and inspect vehicles. Look under the bonnet, start it to hear the engine and read the car history and description.
There are some tell-tale signs that should prompt you to inspect the item more thoroughly. If a car has more than 2 layers of paint, there are big chances the car has been severely damaged and masked to look presentable (especially at public auctions). In addition, if you can sense a strange smell coming from the outside or the inside of an automobile, it’s best to avoid this item as well.
Vehicle Identification Number
There’s another handy trick to pick out well-preserved pieces out of the crowd of dingy piles of iron. Copy the Vehicle Identification Number (VIN) from the windshield base to your notebook. Proceed to look for VIN in other places, like the engine block, boot lid sticker or dashboard. If the number doesn’t match the one you jotted down, the car was probably mauled in an accident and fully reconstructed.
It’s highly important to read the small print of the terms and conditions of the chosen auction house beforehand (online or their printed version). This will provide you with an insight into their service fees, bidding and purchase completion procedure. Some auction houses even demand a deposit two days in advance for a desired model, or an instant purchase option.
Budget and insurance
Your research should determine your initial budget and help you set a limit you can’t surpass. Another thing that should be taken into account is the insurance costs. This way you will not be unpleasantly surprised when you hear about the overall costs. Numerous affiliate apps can usually help you make the calculations in seconds.
Observe fellow bidders and take a page from the book of the most successful ones. We’re mentioning this especially because there are fake buyers who bid on almost every lot to inflate the price. On the other hand, they may just be the owners of a second-hand garage.
Get fully informed beforehand and perform thorough inspections with assistance of a third-party professional to excel at a certain car auction. Follow our tips and you’re bound to score a perfect deal.