Car auctions are often an excellent place for you to buy a new car, get a car that you can refurbish, or find an old gem that you never would have had the capacity to buy otherwise. However, you might not understand how car auctions work, how to bid on a car auction, and how to judge a vehicle that you have found in an auction. Use the steps below to buy a car at auction that will be right for your situation.
1. The Car Auctions Are Live And Online
The car auctions are both online and held live depending on where the auction is hosted. Some government agencies will hold all their auctions online, but other agencies prefer to hold their auctions live. You must choose the auction site that works best for you, and you should search for online auctions that give you the best chance of buying the best car.
2. Where Are The Cars Located?
You are certainly welcome to buy cars at online auctions that are housed in any location around the country. The only issue with making a purchase like this is that you need to find a way to take delivery of the car. The government agency that sells you the car cannot afford to deliver the car to you, but you could come pick it up, have a delivery company bring the car to you, or schedule a time when you will pick up the car in the future.
3. Which Cars Will You Find?
The cars that you see in these auctions will cover a range of model years and brands. You could get a very nice car that was seized from a criminal, or you might come across an old car that was picked up because it was left out in the open. The cars range in age from the vintage cars that you have always dreamt of owning to the newer cars that were seized as part of a government investigation. You cannot expect to find a vintage car that is in perfect condition, but you can expect to see some decent cars that might be worth driving
4. Salvage Cars
Salvage cars are often sold at auction because they have been pieced together using parts from different vehicles. The car might have been completely rebuilt in a way that invalidates the original title, or the car might not even be in drivable condition. You could buy a salvage car for much less, and you might bring it back to life as a sort of project.
Some of these cars drive very well because they were pieced together by experts. The car happens to be in the auction because it was seized, and you could even get a car like this for a child who needs their first vehicle.
5. How To Bid In Car Auctions
Car auctions start at a set price, and you are asked to raise your bids in intervals that are set as part of the sale. You might be able to make increases as small as $5 in an online auction, but you might be asked to raise the bid $100 or $1000 when you are bidding live. You must go into the auction knowing how much you want to spend, and you must read the information for the car carefully. You do not get to drive these cars ahead of time, and you are taking them as is. Auctions do not offer refunds, and they require that you pay right then. There is no financing available for auctioned vehicles.