America's #1 Trusted Source to Gov't Car Auctions

Sep

20

Tips for Buying Cars in Auto Auctions (Part 2 Of 2)

September 20, 2007 | Leave a Comment


By Frank Vanderlugt

…cont’d from Part 1

All cars for sale in an auto auction will have a reserve price on them. This is the bare minimum that the car will sell for – after all, the original owner of the car wants to get a fair price for their used vehicle. Bidding on an auto auction will usually start below this reserve price to warm things up a bit.

In a good auto auction company, the auctioneer will let bidders know when this reserve price has been met.

If you are going to a live auto auction, then you don’t need to worry that if you sneeze, you’ll end up buying a Ferrari you didn’t really want. Auctioneers at auto auctions are not stupid and know how to recognise a genuine bid. Often, bidders at an auto auction will be issued with numbered paddles which they can raise to place a bid.

Bidding in auto auctions can also be done online. If you want to bid in an online auto auction, make very sure that you check the car out first (obviously, it will have to be in your local area for you to do that).

But whether online or live, make sure that you set yourself a budget and stick to it. An auto auction can be very exciting and can call out the competitive nature in many people. This is “auction fever” and sees people bidding ridiculously highly to beat out the competition. Don’t be a mug! Sure, it may feel good to win the auto auction, but at the end of it all, you’ll have to pay for the car you bid on.

However, if you resist the temptation to succumb to auction fever, then an auto auction can be a way to pick up a good car at a reasonable price. Used car dealers often go to auto auctions to find the cars for their yards, so if you bid against them and win, you’ve probably saved yourself their commission/mark-up on the vehicle.

About the author:

Frank J Vanderlugt owns and operates http://www.harfinsol.com 2 Harfinsolcom






Comments

You must be logged in to post a comment.

Name (required)

Email (required)

Website

Speak your mind

Spam Protection by WP-SpamFree

Related Posts:

 Tips for Buying Cars in Auto Auctions (Part 1 Of 2)  Tips for Success at Auto Auctions (Part 2 Of 2)  Sizzling Tips To Assist You For Auto Auctions (Part 2 of 2)  Sizzling Tips To Assist You For Auto Auctions (Part 1 of 2)  Tips For Buying A Car (Part 1 Of 2) 



All trademarks and copyrights on this page are owned by their respective owners. Comments are owned by the Poster.
Car Auction © 2012