How to Buy Cars at Dealer Auctions
The automotive sales market continually finds itself in ever-changing waters. While many sales occur in the traditional manner, with a salesman on a lot, some shoppers turn to auctioneers to complete their buying experience. Potential buyers choose to attend dealer-only auctions due to their vast assortment of vehicle choices. Dealers typically purchase inventory for their used car departments at these auctions, while others sell their excess inventory, trade-ins and previous year-end models at incredible savings.
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Instructions
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Locate a dealer's auction site. You can find most auction sites in the phone book or on the Internet.
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Obtain you dealer's license. Only licensed dealers may participate in dealer's auctions.
Follow the guidelines of your particular state. Most states will require you to have a business name, and you must be bonded. Bond amounts vary state to state, so check with your state's motor vehicle department. -
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Determine the type of vehicle you want and the cost range.
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Attend the auction. Register at the auction site and examine the vehicle inventory. If you find a vehicle you like, be ready to bid on it. If you win the auction, have your paperwork prepared and make payment for the vehicle. Many auction sites will have delivery available; however, you may need to arrange delivery on your own.
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Tips & Warnings
Check Internet auctions and sources such as the Kelly Blue Book to decide on vehicle worth.
Always go through the auctioneer when making a deal. Never deal with someone outside of the auction ring, as warranties may not cover you.
