Car Auctions
Car auctions are great ways to purchase cars at deep discount. Anything from older, junk fixer uppers to great newer cars even to expensive luxury models can be found. Many people purchase cars this way either for themselves or to sell at a profit. But unless you keep some things in mind the auction can turn into a nightmare.
Some of what can go wrong includes buying a bad car. The car won at auction might turn out to be a lemon. Cars sold at such auctions are generally sold according to used car laws which tend to make it an as is sale. Remember the old Sesame Street skit in which a man looks over a car with "as is" in the window. He makes a cursory look at the car, but every question is met with "the car is as is" from the salesman. Finally the man agrees to buy the car, pays for it, but when he opens the door to get into the car it falls to pieces. He exclaims "I want the car as was!" Don't be like that man.
Reputable car auctions give buyers ample opportunities to check out the cars before bidding or purchase. Avoid the auctions that don't. Spend time at the facility before the auction begins. Look around and test drive the cars of interest. Always have on site car knowledge, meaning bring a mechanic who knows about cars if you don't. If that isn't possible, at least drive the car for an inspection during the test drive. Decent inspections take only a few minutes to check the important elements of the car including the motor, belts, brakes, and the like. Anyone with a decent eye can check the body, interior and other physical elements for wear and tear.
Another problem is inherent in auctions. People assume that the car auction price will be a great deal, but often it ends up being more expensive than purchasing the item through a normal sales process. It's no different at car auctions. The bidding can easily escalate to well over the car's value. Add the fees often associated with the auction and it means great care must be taken to know the real value of a car. Be armed with Kelly Blue Book values as well as real sales examples of similar models and years. With Internet enabled phones and the like it's now easy to look up this information while on site. Don't pay more than the car is worth, even if it's a coveted antique.
Remember, auctions can be great deals. But come armed with information and expertise. If a deal appears too good to be true, it is, even at car auctions.