subject: Don't Get Ripped Off at Online, Local, Repo, Salvage, Police, or Used Car Auctions [print this page] Don't Get Ripped Off at Online, Local, Repo, Salvage, Police, or Used Car Auctions
We see them advertised everywhere: "Cars for $500" "Police seizures, get your dream car." These used car auctions are real and can be an awesome way to get yourself some cheap wheels. It is pretty straight forward: You go to the auction, bid on the vehicle you want, and walk away with a car. Now, each auction will have its own rules. For instance, one may allow you to have your own financing or they may provide there own financing. Other will have a minimum down payment from $100 up to a $1000. Just make sure you read the rules before you go.
Tip #1
Go to an auction with no intention of buying anything. This is a great way to go check out the process to see own things work. Most likely it will be free or very low cost to get in, but the education and the confidence you will gain will be priceless.
Tip #2
Get a list before the auction so you know what cars are going to be there and then research the one's that you are interested in. Check the mileage and cost and compare it with Edmonds, J.D. Power, and Kelley Blue Book. Decide BEFORE you go what you think is a good deal for the car. Stick to your plan. Don't get caught up in the excitement. You are trying to get a good deal here, remember.
Tip #3
If it's allowed, bring in a mechanic before hand to check out the vehicle. A lot of auctions may not let you do this but if they do, take advantage of it. These cars are going to be sold 'as is' so this is an awesome advantage to you if you take the time to do it.
Remember, this a very real way to buy a car or truck. Dealerships and used car dealers with be there buying up cars in multiple numbers so they can resell them. Don't be intimidated. They can't buy them all and if you do a few of the things mentioned above you with have a lot more confidence going in. Also, don't forget to research and review the car you are gong to be bidding on. It is a very important step in the process. Knowledge is power.
