How to Take Advantage of Used Car Auctions

A used car auction gives a buyer the chance to get their desired automobile at a low price. Many of the cars at these auctions have been repossessed or are recovered property. You can take advantage of these auctions and get a car without the usual hassles associated with buying a used vehicle.

Difficulty: Moderate

Instructions

1. Buy a car without a loan. Car loans are financially draining and can take up to 5 years or more to pay off. At a car auction, you pay and own the car outright.

2. Find vehicles at a fraction of the cost of the retail cost. The cars at repo and police auctions are awarded to the highest bidder, no matter what the bid may be.

3. Avoid the used car salesman by buying at an auto auction. You will not have to deal with the sales pitches that accompany a trip to the used car lot. The auto auctioneer will provide you with the facts and you can base your bid on factual information.

4. Purchase a car under factory warranty. You can further take advantage of a used car auction by buying a vehicle still covered under warranty without any additional cost to you.

5. Own a car that is reliable and affordable. Most of the models that you will find at a used car auction are not flashy but will provide dependable transportation at a low price. Think Toyota, not Ferrari.

Tips & Warnings

• Make sure you know the terms of the sale before you bid on a vehicle.
• Do not expect to test drive any of the vehicles before the sale. You will only be able to examine the vehicle.

[Dellmain]

on 9/7/2008 This is garbage advice. If you want to buy a car at an auction, the professional used cars dealers will spot you as a rookie in a second. They'll bid you up and stick you with a bad deal unless you quit bidding early. You have to know what the car is worth on the wholesale market and know how to evaluate the condition of the car. The used car dealers take this business very seriously....they know each other, they know who is likely to pay more for a particular car and have their own specific interests, and they know what a car is worth. They know when to quit bidding, because their livelihood depends on it. Don't walk into any auction without knowing as much as humanly possible about the car being offered, what a reasonable value is for the car, and who your bidding competition is. Are they playing with the numbers or are they serious bidders? Are they going to bid you up to an u