What do I need to know about buying from car auctions?

Question

What kinds of things should I be looking for and thinking about if I were to buy a car from a nearby car auction?

Answer 1

Let the buyer beware. These places are full of vehicles that dealerships don't want. There are some deals to be had, just be care full.

Answer 2

Kingsad is right! Take a mechanic with you and someone who knows the trade in value of cars. Take a Galves Guide with you (used by most wholesale buyers) if you can!

Remember that if you don't take an experienced automotive expert with you the chances are like going to a casino! They got ya! And try getting the money back from the casino if you got a LEMON instead of a cherry!!

Good Luck and I hope you find a good deal!!!

Woody

Answer 3

The first thing you need to know as that most public auto auctions offer cheap cars for reason.  Most of them need repaired.  These cars are dealer cast offs, cars they can't sell or cars they don't want.  There is usually a pretty good reason for not wanting the car on your lot, so off to the auction they go.

Take a mechanic with you so you can inspect the vehicle before you bid. Once you win the auction, the the car is yours. Even if you have to tow it home, you own it.

Auctions are cash only.  

Answer 4

The main thing you need to know is that the cars are sold in as-is condition. So make sure you bring a mechanic with you or at least give it a good inspection before buying it. Also be aware that you will have to pay fees added on top off your bid like auction fees, sales tax, smog cert., etc.

Answer 5

I just want to agree with the last person and add a friend's story.

He knew somebody who got him into a dealer's auction so he could bid on a car. I think he paid the guy $200.00 to get him in. He got a KILLER deal on a Chrysler 300 that had kind of high miles, but looked like brand new. Within a day it was obvious that there was something seriously wrong with the transmission. It cost thousands of dollars to fix that he hadn't planned on spending. In the end, he still got a pretty good deal. It was still way cheaper than the same care would have been on a dealer lot. It was just not a painless experience.

Even with that example, the prices can be so low, it might be worth the risk. Just remember that there are usually no real test drives at auctions and there is no taking it back if you don't like it.

If you are brave and you know what you are looking for, then go for it!

I wish you the best of luck.