Tips for Success at Auto Auctions

A car auction can be thrilling if you have the right equipment going in. There are a few things you should know about auto auctions to tip the scales in your favor and allow you to find the best possible value. Buying an auction car always come with a bit of risk; you won't be positive it's a good car until after you've bought, and by then it's too late to take it back. If you want a risk-free car the only option to you is buying a brand new one. If you're into saving money then you can find a quality vehicle at an auction and be fairly sure you're getting quality if you play your cards right. Whether you're looking to attend a live auction or join the new wave of online buyers, these tips will aid you in getting the best deal and a quality car to boot.

Live Auctions
1. Inspect the car on preview days if possible. Many auction hold a preview or inspection day the day before the actual auction. If at all possible, go to it! You'll get a good idea of what's being offered and the option of checking out the car before bidding on it. Also if possible, bring along someone who knows cars pretty well to help you 'see' potential problems. Ask to look all over the car, under the hood, and hear it start up. You probably won't be able to test drive any of the selections, but if you can do a thorough check you'll be much better off.

2. Arrive early on auction day. Arriving early lets you observe other buyers, see what cars they are going for, and also another chance to check out the cars you're interested in. If the auction you're attending didn't have a preview day, use the time before the auction to inspect the cars as thoroughly as possible.

3. Pick more than one car as 'interests.' If you are setting all of your hopes on only one car, you might be very disappointed when someone goes over your budget. There is a lot of variety at auto auctions depending on which you choose to go to. A good number of interests is 3. You can favor one more than another, but try not to get your hopes up. Having more option increases your chances of getting a good deal on a car.

4. Know the worth of a car. You can look up the retail value of the different cars offered to make sure you're truly getting a good value. If you have no idea what a car is worth, how do you know if you're overbidding or not? Depending on the age and make of the car, the value can range a lot of over its lifespan.

5. Stick to your budget. You should always go to an auction with the mindset that you will not go over a certain price. Be realistic, but stick to that number!

Live auctions can be a great way to find a used car. If you don't hit big at one keep in mind that there are many many more out there that you can attend.

Online Auctions
1. Find cars that are in your area. When you look online for auctions, you are going to be surprised at how many cars are listed. Private owners can also auction off their cars, not just the government. You might have a better chance at getting a specific car you want if you search for it. By staying in your area you won't have to pay for the car to be delivered and you can take advantage of some other tips.

2. Ask to see the car before you buy. Staying your area will allow you to do this. Always see if you can inspect the car before buying it. See if you can get the car checked out or bring someone who knows cars with you if they let you. Some dealers won't let you do this, but you've lost nothing in asking.

3. Ask questions about the car. You have the chance now to find out anything you can about the car before you buy. Don't be shy; ask whatever you want to know and decide if you believe their propaganda or if they give you truthful answers.

4. Know the retail price of the car and stick to a budget! Same as live auction, never overbid or go over the price you're willing pay.