subject: Should I purchase a vehicle from the auction? [print this page] Should I purchase a vehicle from the auction?
If you are in the market fora used vehicle today, you may have considered the option of buying a vehicle from the auction. To many uneducated customers this may seem like a good idea, especially when it comes down to the cost of the car. But everything is not as simple as it sounds in real life when it comes to the dollar and cents. Purchasing a used vehicle from auction is not for the faint of heart, and it requires a dealer license along with certain amount of cash in the bank for you to be registered as a wholesaler. In the auction environment your bid will be the amount of money you are willing to pay for the vehicle. There is no turning back once the bid is accepted by the auctioneer. If you have a friend who has a dealer's license and willing to purchase a vehicle on your behalf. You should understand once the purchase is made you are committed to buying the vehicle from him or her.
In the auction environment the vehicle may or may not be sold with certification or emission test. It is up to you as the potential buyer to record and remember every minor details. If the vehicle has been repainted or a branded title, the auction will disclose that information to the buyers. But once the vehicle is purchased from the auction there is no attached warranty, clean up or any other customer services provided. If you are looking for a particular car, there is no guarantee you will be able to find the exact vehicle throught the auction channel. In this case it maybe a good idea for you to find the vehicle through the dealer's network instead of auction block.
The price discripincy from auction price and retail price, is usually 25-35%. This amount of money is usually used for the certification, repairs, as well as reconditioning of the vehicle. If you are not a picky customer and you don't mind paying out of pocket for all the necessary repairs and reconditioning. Then this maybe the best option for you, but if you are a picky customer that is looking for perfection I would strongly suggest you against taken the auction approach.
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