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Auto Auctions: What You Need to Know to Get a Good Deal

Auto auctions present a great opportunity for consumers to get a quality vehicle usually at a below-market price. However, you need to follow some basic guidelines. To decide whether to bid on a car, you should understand the pros and cons of buying a car at auction. And, you need to know how to thoroughly inspect vehicles before bidding. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Auto Auctions.

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Auto Auctions: What You Need to Know to Get a Good Deal

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  1. Auto AuctionsWhat You Need to Know to Get a Good Deal

  2. Auto Auctions • Auto auctions presents great opportunity to get below-market priced vehicles • Need to follow basic guidelines; know pros and cons; thoroughly inspect vehicles before buying a car at an auction • Ex: knowing how to tell if vehicle has been damaged, auto auctions are always a buy “as-is” transaction with no warranties

  3. Auto Auctions • Do the following before auction day: • Be proactive and cover your bases so you protect yourself. Get a Carfax report, make a list of VIN of cars you’re interested in • Have funds lined up to pay for purchase, inquire at auction house about payment requirements, know if you need to pay buyer’s premium • Beat crowds get to auction early for inspection

  4. Auto Auctions • Do the following before auction day: • Take advantage of auction services such as inspection times for evaluation of potential vehicles • Bring Kelly Blue Book, NADA guide or Edmunds book to inspection periods. Access websites for pricing information on smartphones

  5. Auto Auctions Physically Inspecting Vehicles at Auto Auctions • Open doors, hood and trunk, look for VIN stickers make sure they match • Tires – uneven tire wear indicate an alignment problem • Wheel rims – look for damage on side of vehicle only

  6. Auto Auctions Physically Inspecting Vehicles at Auto Auctions • Airbags – make sure covers are not fake • Body – look out for extreme scratches, dings, dents; bumper should be free of issues; different thickness of paint or traces of over spray on windshield; engine compartment; inside door edges and seams could indicate major body work; left over masking tape

  7. Auto Auctions Physically Inspecting Vehicles at Auto Auctions • Carpeting – new carpet could signal a flood • Windows – make sure power windows operate correctly • Mileage – know appropriate mileage level of car’s age • Mechanical Operation – start car and inspect for running operation; look for leaks

  8. Auto Auctions Final Advice for Buyers at Auto Auctions • For winning bids, make sure you have the title, look out for titles with “in transit” • Check and see if vehicle has “rebuilt” title, other problem titles include: junked, salvaged, flooded, fire and more. If a problem title, value of car will drop by 30 percent or more

  9. Auto Auctions Final Advice for Buyers at Auto Auctions • Auto auctions can be very exciting events and inexperienced bidders can get carried away. Regardless how much you want a car, never pay more than market value • Do your homework and thoroughly inspect vehicles. Also follow your insticnts

  10. Auto Auctions About the Author Deb Weidenhamer is President of Auctions Systems Auctioneers & Appraisers, Inc., based in Phoenix, Arizona. They specialize in auctions and professional appraisals. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Auto Auctions.

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