Car auctions are a great way to get a car for hundreds and even thousands of dollars less than what you would pay at your neighborhood dealership. However, there are always associated risks when attending your next auto auction. Take a look over these car auction do’s and don’ts before attending your next auction to save yourself from being ripped off.
Do’s
1. Go to the auction site the day before to check out the cars and get the vin numbers for the cars that you are interested in. This gives you more than enough time to look at all the cars you want. This is important because some auctions only allow an hour of viewing time on the day of the auction.
2. Get a Car Faxs report on all of the vehicles that you obtained the vin numbers for. The report will tell you of any major accidents, fires or floods that the car has been in.
3. Make sure the vin numbers match on all parts of the car. Non-matching vin numbers are an indication of a stolen or salvage title vehicle. Neither of which you would want to purchase.
4. Bring a mechanic! Always bring a mechanic with you to check under the hood for any problems with the engine, transmission, electrical system, etc.
5. Register. You cannot bid on a car without registering. So make sure you do so before the auction starts or you’ll be kicking yourself later when your dream car rolls around and you can’t bid on it.
Don’ts
1. Don’t get into a bidding war. This is an easy way to pay more than the car is even worth. If you see yourself getting into a bidding war, walk away.
2. Don’t bid on a car you have not fully inspected. just because it looks good on the outside doesn’t mean it alright under the hood.
3. Don’t sign any paperwork without reading and fully understanding it. This is were a lot of people get into trouble. The paperwork is a legally binding contract! If you don’t understand something, ask questions.
4. Don’t get there late. You always want to give yourself time to inspect the cars you are interested in fully. You also need enough time to register.
So, buying a car from your next vehicle auction can be an enjoyable and very rewarding experience. You will always remain ahead of the game by just arriving early, fully inspecting the cars you are interested in and running a report on all vin numbers.
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Getting ripped off at a government car auction is the number one most common fear of those attending one. There would be nothing worse than buying your dream car for pennies on the dollar only to discover you over paid or even worse, it needs extensive repair work. But it doesn’t have to end that way. Increase your chances of finding that perfect car for a great price by following these valuable dos and don’ts.
1. Do bring a mechanic with you to any government car auction you attend. This is the most important thing to remember because these cars are sold in as-is condition. Meaning, once you buy it you are responsible for all repairs and cannot return it if it’s a lemon. If you can’t find a mechanic to come with you, check under the hood for dirty oil, which can be a sign that the previous owner did not keep up with regular maintenance. Also look for rust on the brakes, doors and trunk, which can be an indication that the was was in a flood. Avoid these cars at all costs because the water damage will cause the electrical system to fail soon, which costs more to fix than it’s worth.
2. Do arrive early. This will give you time to thoroughly inspect each and every car you’re interested in buying. You should try going a day or two before the auction date so you can write down the vin numbers of the cars in order to run a CARFAX report on each one, which is also very important.
3. Do research every car you’re interested in buying. This includes running a CARFAX report and using a Kelly’s Blue Book. First, you’ll want to run a CARFAX report using the vin number you wrote down as mentioned above. This report will tell you if the car has in an accident, flood or fire. If that check out OK, next you’ll use a Kelly’s Blue Book to check the car’s current retail value. This will save you from paying more than what the car is really worth, which is all too common if you get caught up in a bidding war.
4. Don’t get too attached to any one car. Sure, the car may be just what you’re looking for. But getting too attached can cause you to get into a bidding war with someone else that feels the same way. In the end, you’ll wind up pay more than what the car is actually worth, which makes going to a government car auction to save money pointless.
5. Don’t buy a car with non-matching vin numbers. If the vin numbers on the engine, doors, dashboard, trunk, etc. don’t match there is a high possibility that the car has been in an accident, flood, or fire. Most likely parts from another car were used to do repair work. Or even worse, it’s a stolen vehicle.
In conclusion, going to a government car auction is nothing to fear as long as you are a well prepared buyer. just remember to bring a mechanic, get there early, do your research, avoid getting too attached and buying cars with non-matching vin numbers. As long as you follow these guidelines you’ll be fine.
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