Auto auctions give buyers a chance to get the car of their dreams for a fraction of the cost. The problem is that not every vehicle up for auction is a real gem. The trick to buying at action is to know what you are looking for and what you should be paying for it. If you are able to find the right car, you may be able to pay thousands less for it- if you know what you are doing. Here are some tips for buying a car at an auto auction.
Know Where the Car Came From
Auto shipping companies make it possible to ship vehicles from all over the country. This means you could be attending an auto auction in New York but you could be purchasing a car from Florida. You will want to know as much about the car as possible before you decide to buy it. This is especially true if you are purchasing a vehicle from an Insurance Auto Action (IAA) because a large amount of the vehicles sold at these auctions have storm or water damage.
Know the Car’s Condition
Unless you are a mechanic or are specifically looking for a fixer car, odds are you don’t want to get stuck buying a severely damaged car. You will want to know as much about the car as possible, including its service history, any history of damage to it and the reason why the previous owner decided to get rid of it. This will help ensure that you are not stuck with costly repairs. Also, be sure to find out if the vehicle is operable. Ideally, you would like to drive the car right off the auction lot. If you are a mechanic or if you are looking to repair and resell the car, there are many auto transport companies that can move the vehicle to any location for you.
Know the Market Value
Auctions make it easy to get overly excited about buying a car. Don’t get too excited and end up paying too much for a car. Before you make an offer be sure to know the market value for that model, year and make. The goal of purchasing a car at an auto auction is to save money, so make sure you know what you should be paying.
Purchasing a car at an auto action could end up saving you hundreds or thousands of dollars, if you choose the right vehicle!
