Buying a car in auction is one of the ways of getting used cars still in good performance at affordable price. Cars written off by companies and government agencies including insurance companies are sold in auction at a low price. These cars are still in good performance. If you are lucky to buy one, you will get value for your money. Besides, buying a car in auction is a veritable means of avoiding the dealership scams, stressful process and markups as well as overly ambitious owners. But if you have made up your mind to participate in a car auction, it is important that you know how a car auction works and how to participate successfully in it. Here are some tips to apply when buying a car in an auction.
Take time to read the catalog of the auction
Before the auction starts, a list of the cars to be auctioned and their brief descriptions are published. It is advisable that you take time to read the catalog to know more about the car before you participate in the auction. You can only take part in the auction if you like the cars to be auctioned. You will get the idea of the car based on their catalog. When reading the catalog, don’t just be concerned with the model. You should also try to find out the condition of the cars, whether they have been re-bodied or not, the history of the cars and similar information about the car.
Be present at the auction
Nowadays, it is possible for somebody to bid without being present at the auction. You can bid online or with your mobile phone. However, it is advisable for you to attend the auction. Car auction is different from other types of auction. You might have read the descriptions or view the photos of the cars to be auctioned, but it is important also for you to see the car you want to buy. Seeing the car is a good means of confirming what you have read about the car. Besides, written description may not be able to say exactly how the car looks like. It is only when you see the car that you can make up your mind whether to buy or not.
If you don’t want to attend the auction or if you have another engagement on the auction day, make out time and go to the auction before the bidding day in order to see the car. Normally, before the auction day, some days are given for participants to see the cars.
Register for the auction
Show interest in the auction by registering on time. You may be required to provide proof that you are financially capable of participating in the auction. Your bank statement may be required.
Stay close to the ring men of the auction
It is good to stay where the ring men of the auction will see you easily when you are bidding. Remember, there are numerous participants in the auction. Always determine the highest amount you will bid and don’t bid above that. Make sure that you stay away from the bar or alcohol on the day of the auction. Don’t attend the auction with your girlfriend or any friend that will distract you from paying attention or concentrating on the auction.