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June 25, 2013

What Can I Do if I Have a Problem with the Car I Bought at an Auction?

Many people have reservations about purchasing at an auto auction because they fear buying a lemon. By understanding the process of purchasing from an auction, you can cover yourself against potential problems. The first thing you can do, if you have issues with a newly purchased car, is determine the status of its warranty. Some auctions will cover between 30-90 days from the time of original purchase, which can give you plenty of time to have the car thoroughly checked for hidden problems. If possible, seriously consider purchasing an extended warranty. If you are wise, you will investigate these possibilities before you even bid on a vehicle so that you are prepared for the worst.  Don’t wait for your purchase to be completed.

Secondly, in the face of newly discovered automobile issues, you may need to look into your city’s or state’s local lemon laws. For example, some states may require auto houses to sell the cars “as is,” ultimately covering the auction house against any future litigation. If a car is sold “as is,” your recourse against the seller or auction house is very slim. Keep that in mind before purchasing.  Of course, if you find evidence of fraud, a clear effort to hide know problems, that could be a different story, worth checking at your local police department.

Lastly, the most important thing you need to do is assess the overall condition of the car; before bidding is better than after! If a car purchased for $1500 needs $5000 in repairs, you probably should move on to another car. Overall, purchasing cars from the auction is not something recommended for the ill-informed. If your understanding of cars and their overall functionality is minimal, please take someone along with the knowledge to assist you with your purchase. It’s better to be proactive than reactive, especially when it involves spending hard earned money. Be smart upfront, and you’ll avoid heartache in the future.

June 25, 2013

Do I Have to Be Present to Sell my Car through an Auction?

Depending on what auction format you plan on using, you may or may not need to be onsite when your automobile sells. In my opinion, you should always be available and ready to answer questions even if your car is being sold by a third party. Think about it, nobody knows your car like you do, and who else better than you would be able accurately to answer questions about your car?. Now, in other instances, such as online auctions, you need not be online when the car is selling but must be available to field any questions that arise during the process. For example, when using an eBay auction to sell a car, you will get plenty of questions from prospective buyers, any time, day or night. It’s in your best interest to answer these questions promptly and honestly. In essence, you’re competing against other auto sellers for someone’s hard earned cash; so quick, honest answers are to your advantage.

Now, at most live auctions, your car’s information will be available on a sales sheet. The information will also be provided prior to the auction over the house speaker. Again, I would suggest always being on hand and available to answer questions if the auction house will allow you to do so. Another major factor in your decision to be present or not is the overall condition of the car. If you have a limited edition vehicle with low mileage and minimal wear, the car will sell itself. If the car is not in high demand and you have some reservations about the final sale, you’ll probably want to be present and ready to answer questions. Your first-hand information about the vehicle being auctioned will, at the least, eliminate negative assumptions or fears. Doing so will improve the chance of selling your car for the highest price.

June 21, 2013

Do Auctions Provide Lists of the Cars for Sale before an Auction?

Most skillful buyers attending auto auctions observe a concept called “due diligence”. This process entails finding out all the pertinent information regarding the auction before attending. Smart buyers seek information such as where the auction will be located, the reputation of the auction house, and, most importantly, what cars will be sold on this day and their condition.

The most important variable to find out, in advance, is what cars will be sold at the auction. Some auctions provide information online including pictures, title status, and the all-important starting bid price. Older auction houses may require you to call in and have the information faxed to your location, or, even worse, you may need to stop by and retrieve an information sheet. In any instance, you should have the information before the auction begins; you just need to figure out how to get it.

Other mediums such as eBay have auctions by the second so all you’ll need to do is log on to eBay.com and search for the car you want. GSA government auctions also have a searchable car database.  Once you’ve found a listing, be sure to read through the terms and conditions carefully. In any case, the information regarding auto auctions is usually common information that can be found by simply picking up the phone or checking a website. If possible, review the list of cars to be sold prior to attending the auction; this will give you a hand up on the other potential buyers and help you seal your purchase with ease.

June 21, 2013

How Much Money Do you Really Save at an Auction?

So here’s the question: how much money can I save at an auto auction? The answer: plenty! Unlike normal car dealerships where you must haggle and negotiate to save money, the auto auction places the power in your hands. When attending the auction, you’ll notice a bevy of low priced cars ready to sell. It’s all up to you and the other buyers on how much you’ll pay for one of them. For example, at a recent auto auction in Houston, Texas, a new model car sold for $10,000 less than standard retail. You cannot get this kinds of deal anywhere else.

How much you actually save depends on a few factors and how well you’re able to capitalize on them. First, you must determine how much you’re willing to spend and not budge on that amount. This will eliminate a slew of cars and temper your focus down only to the ones within your range.

Second, you must know the vehicle’s condition. This is where having a willing family mechanic or having knowledge of how cars operate may come in handy. For example, the auction house may crank the car and you could hear screeching or see smoke among other things. A seasoned mechanic will know exactly what needs to be fixed and how much it will cost, while a normal buyer may have no idea. This provides for less people bidding on that particular model and increases the savings.

Lastly, you must know a car’s worth in its current condition. For example, take any car at the auction, and look up the Kelley blue book value. If you have a Smartphone, you can download the KBB app. This provides you with an opportunity to determine what the value is and know where you have slack for bidding.

Auto auctions are a great place to find killer deals on a car; don’t let a great deal slip through your fingers.

June 11, 2013

Are Cars Bought at Auctions Reliable?

Auto auctions provide some of the most dependable, reliable cars on our roads today. Many people are against them, but if they would take the time and research the vehicles, they would realize the power of the auto auction. Here’s a few reason why car auctions are reliable.

Disclosure: Most auction houses are required to disclose the condition of the vehicle. If you’re in the market to purchase old, flooded cars, the auction site will more than likely provide this information. Say you’re looking for salvaged title cars; you can obtain this information at the auction house as well. It’s up to the consumer to ask questions and inquire further if more information is needed.

Used Car Dealerships: Another reason why the cars are reliable is implied by where the cars were purchased. People are trading cars daily and replacing them with new ones. If the dealership feels these cars are outdated and can’t be sold on their lot, they move them over to the auction. In most instances, perfectly good cars slip through the hands of dealers and into the hands of local auctioneers. Furthermore, the dealerships are sometimes onsite at auctions purchasing cars. This can be a major tell-tale sign for you, the prospective purchaser, because if a dealership is willing to buy from the auction with no reservations, you should have the confidence to know your getting a great product as well.

Again, I can’t stress the importance of doing your due diligence and making sure you make a smart purchase; that part is on you.  It is always wise to bring along an experience mechanic to inspect any car you might consider buying. Really think about what it is you’re looking for in a vehicle before you make your move as well. In closing, don’t be wary of auction auctions. Many find them highly reliable and overall one of the best places around to purchase cars. 

June 9, 2013

Factors tо Cоnѕidеr When Using Online Auto Auctions

Whether уоu are a single car buyer who only nееdѕ оnе vehicle or a car dealer who just opened for business, уоu mау соnѕidеr using online auto auctions tо get a great deal. If this is уоur first time going this route, рlеаѕе kеер thеѕе important points in mind.

Hundreds of auto auction websites are out there. On thеѕе websites, уоu will find a variety of auction types hosted. While thеу do follow the general auction-style format, уоu will notice a difference. For example, eBay  is an online auction website. Users саn list vehicles for sale оn eBay Motors. Thеѕе vehicles are listed by a wide range of people—ѕоmе dealers, ѕоmе avid eBay users, and оthеr who are first-time sellers—lооking tо tap into the growing popularity of eBay.

On eBay, уоu may find inaccurate and incomplete information аѕ it is the individual seller who is placing the listing. On the оthеr hand, an experienced auto auction house will probably include more detailed information, аѕ thеу know what buyers expect. This dоеѕ not mеаn that уоu ѕhоuld avoid user generated listings, like thоѕе found оn eBay.com. What this dоеѕ mеаn is that уоu ѕhоuld be prepared tо аѕk questions, lots of them.

At physical car auctions, уоu’ll find that ѕоmе are open only tо licensed or certified dealers. You mау соmе асrоѕѕ similar auctions online. Don’t be discouraged if this is all уоur internet search pulls up, at first. Dig a little deeper, and уоu will find car auctions online that are open tо the general public.

As with physical car auctions, уоu will typically find a number of fees tacked оntо уоur buying price. It is important tо kеер this in mind when placing уоur bid or while in the midst of a virtual bidding war. Rеаd the auctions full terms and restrictions ahead of time. Will уоu be charged a 10% auction fee or buyer’s fee? If so, kеер thеѕе fees in mind when calculating the оvеrаll purchase price.

You will find hundreds of legitimate online auto auctions; however, уоu will аlѕо run into a few scams аѕ well. For example, eBay.com is a well-known target of scammers, аѕ mоѕt items are shipped through the mail. Vehicles саn be shipped via a transport service; therefore, risks do apply. It is аlwауѕ in уоur bеѕt interest tо uѕе уоur bеѕt judgment. Moreover, eBay sellers and mаnу well-known auction houses will allow уоu tо соmе and quickly inspect the vehicle bеfоrе bidding, but уоu nееd tо аѕk first.

As previously stated, a wide range of auctions are available for cars online. On eBay.com you will find mоѕtlу new or uѕеd cars that are in great, drivable shape. When researching online, уоu will аlѕо find ѕоmе auctions where the оvеrаll shape of the vehicle isn’t clear; уоu are agreeing tо buy as-is. In this case, the vehicle’s VIN number is important for determining if the vehicle hаѕ a сlеаr title. It is easier tо attend virtual auctions, but the ѕamе level of organization and research ѕhоuld be performed ahead of time. 

RM Auctions ties on-line and in person auctions together with the ability to watch and bid on-line.  They also offer incredibly detailed information on their collector cars, including a video report.

March 23, 2013

Auto Buyline Systems (ABS) Auction – Bellflower

Auto Buyline Systems (ABS) Auction - Bellflower

ABS - Bellflower
Address:
Auto Buyline Systems (ABS) Auction – Bellflower
16307 Bellflower Blvd
Bellflower, CA 90706

Sales: Weekly

Website

Description:
ABS is a full service auction, dedicated to serving our dealers. Everything is provided including pre-auction marketing, valuation assistance, transportation, wash services, security, arbitration, and DMV paperwork.

ABS has 7 locations in the state of California in Sacremento, Silicon Valley, Van Nuys, Bellflower, Santa Ana, San Diego, and Inland Empire. Please visit their site (above) for information on every location, sales times, and registration information.

March 23, 2013

Auto Buyline Systems (ABS) Auction – Van Nuys

Auto Buyline Systems (ABS) Auction - Van Nuys

ABS - Van Nuys
Address:
Auto Buyline Systems (ABS) Auction – Silicon Valley
7817 Van Nuys Blvd
Van Nuys, CA

Sales: Weekly

Website

Description:
ABS provides virtually every service of major live-auctions at about one-third the cost. Their systems require a fraction of the time with better overall results and are far more effective (and secure) than hand wholesaling one-on-one between buyer and seller.

The utlimate, one-stop marketplace for buying and selling frontline inventory from booksheets. Buy or sell front line inventory online 24/7 or simply call/fax for personalized service (see above)

March 23, 2013

Auto Buyline Systems (ABS) Auction – Silicon Valley

Auto Buyline Systems (ABS) Auction - Silicon Valley

ABS - San Jose - Silicon Valley
Address:
Auto Buyline Systems (ABS) Auction – Silicon Valley
3215 Pearl Ave # A
San Jose, CA 95136-1101

Sales: Weekly

Website

Description:
Founded in 1992, ABS offers the largest sealed bid auto auction in the country. Their system consistently delivers the most money for your wholesale inventory in the least time. Our time-proven process involves a sealed bid auction, state-of-the-art online functions, and a commitment to world-class customer service.

Currently, over 300 new car dealers sell 40,000+ vehicles a year to over 750 registered buyers using ABS auction programs. For over 16 years, ABS systems have continually improved with one idea in mind: To increase dealer profits and simplify re-marketing efforts.

March 23, 2013

Auto Buyline Systems (ABS) Auction – Sacremento

Auto Buyline Systems (ABS) Auction - Sacremento

ABS - Sacremento
Address:
Auto Buyline Systems (ABS) Auction – Sacremento
3128 Auburn Blvd
Sacramento, CA 95821

Website

Description:
ABS Auto Auctions is a Licensed, Bonded, and Insured Auto Auction Company specializing in the remarketing of New Car Dealer trade-ins and frontline inventory through the use of two distinct programs:

1) The ABS Sealed Bid Auction – used to wholesale unwanted trade-ins.
2) Frontline Central – an all inclusive program used to buy/sell frontline inventory.