Auto Auction Tips

An auto auction can be a daunting experience for newcomers. However, do not let that stop you from participating in them. While the auto auction tips detailed below is orientated towards physical auctions, many aspects of it apply to online auctions too. We hope that some of the points below may be of benefit to you.

• Before you participate in an auto auction it is important to do some research first. You will not want to make impulsive decisions that may lead to a buying a lemon, an overpriced motor vehicle or the wrong type of vehicle for you. It is advisable to attend a few auctions first before making your first purchase.



• Decide what type of vehicle it is that you want to buy.



• Get an idea of the current market value of the vehicle that you are interested in.



• Sites like kbb.com can be of value for finding comparisons between a particular type and model of vehicle.



• Decide on an upper limit that you are prepared to spend and do not bid above it. Do not get attached to a vehicle and let your emotions take over. It may be an idea to set your upper limit to an odd value. For example, consider $910 rather than $900. You may need to organize some auto finance in advance.
  
  
• Find out where and when those types of vehicles are up for auction. The sites that we recommend on the auto auction listings page give you an excellent source of information to assist you.



• Many auctions will provide a complimentary CarFax VIN report, but if they do not you can obtain one at the Carfax web site. This is important so that you can make sure that the vehicle has not been damaged by flood, hail or another nasty event.



• Inspect the vehicles that you are interested in before they go up for auction. If you are not mechanically minded, it may pay to bring someone along who is.



• Dress to impress. If you dress well and act in a confident manner, then you may give the impression to other auction buyers that you mean business and they may stop bidding early.



• Stand in a position that is in clear sight of the auctioneer.



• Make clear and confident bids.



• If the bidding is going slow, sometimes a "knock out" bid can work well. This is where you bid much higher than the current increments. It can often scare off bidders who have not reached their budget. Be aware that the same can happen to you in reverse. Keeping emotions out of auctions is an important key to success.



• Inspect and drive your vehicle after you have purchased it and make sure that it lives up to the auction guarantee.



• Remember to get some insurance for your vehicle. You can find some free auto insurance quotes here. Find out why it is best to obtain auto insurance quotes before you buy.

Once you get a new vehicle, you may want to sell the one you already have?

 

If you have any other tips or ideas about auto auctions that you would like to share, then please Contact Us and let us know.