Sunday, February 08, 2009

Auto Auction: Winning The Right Car At The Right Price!

Bidding with a reputable auction company is not a guarantee that you won't get ripped off on the car you want to bid on. So before engaging into a bidding war, make sure that you know what you are fighting for.

First, get auction listings. The listings may be a brochure or a catalogue. Getting hold of one allows you important information about the history of the cars that will be put on auction. Look for the vehicle identification number (VIN) and do your research online. Check their history report. The VIN will allow you to discover what happened to the vehicles before they were put up for auction. Check the current market value of the cars of your choice so that you will have an idea on how much money you should place for each car. (Select 3 or more cars you want to bid on as you are not assured that you will win your first choice.)

Pre-selecting the cars and researching their current market prices isn't enough. You need to go to the site before the auction begins and inspect the vehicles personally. This way, you will be able to know the general condition of the vehicles.

Vehicles at auto auctions are sold "as is" and most auto auctions do not allow bidders to test drive the vehicle so the only way to know if it's really worth your money is to do a thorough inspection off the vehicles.

Take note of the information posted on the windshield of the vehicles (seller's name, mileage, lot number, year and model, and lane assignment). This will be your guide on the auction floor.

Once the bidding starts you must stay focus. The auction process happens very fast and one vehicle may be sold within a few seconds. When their number is called on the floor, do not hesitate to bid. Take note, there may be others that are also interested in the same vehicle. If this happens, the price may go well above your expectations. Keep within your budget. Stop bidding if the price is above your set budget.

If you didn't win one of your chosen cars, move on and be ready for the next one to be called. Keep trying without breaking your budget. In the end, if you have done enough, you will be able to drive home the right car, at the right price!


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