For those who are seeking a deal on their next set of wheels, car dealer auctions offer an exciting opportunity to purchase vehicles at discounted prices. Whether you're in the market for your first vehicle or just looking to upgrade from what's already parked in your driveway, our detailed guide will provide all the information necessary for buying cars like a pro - no dealer license required!
Car Auctions for Dealers Only
For those looking to turn a profit, car dealer auctions offer an exciting opportunity. However the process of obtaining the necessary licensing can be lengthy and complex; each state has their own individual stipulations for licensure which may include specific annual purchase and sales requirements. Of course if you're just in it for fun then public auction outlets are perfect - no license required!
Car Auctions Open to the Public
Looking for a great deal on your next set of wheels? Popular Mechanics has the inside scoop - two types of car auctions open to the public offer exciting opportunities to score some serious savings. Government and public car auctions both present potential buyers with a wealth of options, so you can find exactly what's right for you!
- Government and police auctions offer an exciting opportunity for anyone hoping to score a great deal on any number of unique vehicles, from city buses and police cruisers to confiscated impound cars. But be warned – you’ll face competition from other savvy bidders including professional secondhand car dealers, taxi companies and exporters who know the ins-and-outs of mechanics as well as having in depth knowledge when it comes determining vehicle value!
- Public car auctions offer an exciting opportunity to score a dream ride at unbelievable prices. With the recent economic crisis, they've become more popular and competitive – so it pays to do your research! You might find repossessed cars from banks or high-end sports vehicles, but be mindful not to overbid because market price is never guaranteed. When you're ready for some serious wheeling and dealing adventure… head down the auction lanes!
Ten Things You Should Know When Buying Cars at Auction
- At auto auctions across the US, vehicles of all kinds come to be purchased. From traded-in cars and leases to repossessed rides and those declared totaled - for nearly nine million vehicles every year, this is their final destination. It's important that buyers remain cautious when making a purchase here; while there may still be some diamonds in the rough available at auction lots, it pays off even more if you are suitably suspicious and take your time with inspections.
- When it comes time to buy a car, you'll want to be prepared for more than just the winning bid. To finance your purchase, either cash or an approved loan is accepted and you may need a deposit if loaning from your bank. Be sure that any credit cards used alleviate additional fees while taxes and registration should also figure into budgeting plans. Financing options usually require collision insurance coverage so talk with a independent agent who can provide multiple quotes without charge - helping make smart choices easier!
- To the untrained eye, a car that's been polished and buffed up can look truly dazzling. However, it pays to investigate beyond its glossy exterior: double-checking the VINs between each point of identification is key for ensuring you don't buy an unreliable lemon!
- Purchasing a used car can be tricky business. Without the right knowledge, it's easy to get fooled by crafty sellers who mask issues in order to make their vehicle look more attractive than it really is. To steer clear of potential scams, consider enlisting an experienced friend or going through a reputable dealership instead of taking your chances at public auctions where no guarantee exists for what you may buy.
- Want to find a great deal on your next ride? According to experts, repossessed bank inventory is the way to go-these are usually high-quality vehicles that lenders just want off their hands. To get top value for your investment, be sure that the car seems well kept and its interior isn't too worn down; these can sometimes be problem areas when it comes to repo cars.
- If you're considering buying a used car at auction, proceed with caution! While lots of cars are offered by reliable dealers for competitive prices, keep your eyes peeled and inspect the vehicles closely—there may be hidden problems that could turn into costly repairs. Don't get taken in; check it out before you commit to drive away with what might otherwise seem like an unbeatable deal.
- At car auctions, the speed is dizzying and decisions must be made in a heartbeat. Steve Lang calls it "capitalism at its most intense"; anyone present needs to remain focused through all of the adrenaline-charged intensity - or risk going home with an unsalvageable car! It's best practice to take your time when considering each vehicle; more often than not, patience pays off better than impulsivity.
- When you enter the bidding wars, it is important to have a pre-established limit and stick with it. Paul Duchene of Car and Driver advises steering clear from distractions which could cause clouded judgement: don't indulge in spirits or other indulgences that may lead to overspending - as this often causes remorse immediately following the momentary euphoria! Being prepared ahead of time will help ensure success when entering into any negotiation process.
- Get ahead of the competition and arrive early to find out when your dream car will go up for bidding! Make sure you grab a schedule so that you can prepare for any potential purchase. Don't be too tardy - arriving late could mean missing out on inspecting your top pick from the auction.
- When shopping out of state or at a distance, it pays to make sure you leave plenty in your budget for shipping – after all, the last thing you want is an unexpected cross-country journey with a possibly unreliable vehicle that could end up leaving you stranded and facing hefty repair costs!
Are Car Auctions a Good Place To Buy?
Car auctions offer a thrilling opportunity to purchase your dream ride at an unbeatable price. While the right preparation and research can result in a great deal, it's also important to be aware that there may still be some surprises along the way - both good and bad! From the joy of acquiring their perfect car for an irresistible price, to paying too much on unreliable lemon-cars; Auctioneer Steve Lang has seen many deals would will have lifelong consequences on those involved.