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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.