Cars How to buy a car at an auction

17:06  18 may  2017
17:06  18 may  2017 Source:   U.S. News & World Report - Cars

House swallowed by ivy in prime London location up for auction

  House swallowed by ivy in prime London location up for auction Only the front door and downstairs window are visible from the street.The three-bedroom end of terrace property on Ruthin Road, Blackheath in south London – which comes with a £450,000 guide price – will go under the hammer on Tuesday.

Last year, Nicole shared a great reader story about how to buy a new car at a dealership. Since I’ve done it, let me share the steps it takes to buy a car at auction . Find an auction that sells newer cars where the public is allowed to attend.

Before buying a car at an auction , it's important to understand that the procedures for inspecting vehicles is different at every location. What Is a Window Regulator? How to Buy a Car at Auction . What Equipment Do You Need to Wash a Car ?

  How to buy a car at an auction © Niyazz / Getty Images

Car auctions are a method of buying a used vehicle that often gets overlooked – sometimes for good reason. Going to car auctions can be an adventure, and some buyers find it very rewarding. A successful day at the auctions can yield a decent car at a very low price. However, there are a lot of ways for the deal to turn sour, too.

The worst-case scenario isn’t that you’ll walk away from an auction empty-handed; it’s that you’ll unknowingly drive away in a death trap. If anything discussed in this overview makes you uneasy, buying a car at an auction is probably not the best choice for you.

Jerry Garcia guitar on auction to back rights group

  Jerry Garcia guitar on auction to back rights group One of Grateful Dead legend Jerry Garcia's most famous guitars is going back on auction, where it could fetch more than $1 million to back a civil rights group.  Known as Wolf, the electric guitar was custom-made by luthier Doug Irwin. Garcia debuted it at a 1973 concert in New York before the instrument -- along with Hell's Angels bikers -- became ever-present during the Dead's perpetual touring.

How do you buy a car at an auction ? Update Cancel. What is a police car auction ? Is it a good place to buy a car ? When buying a car at auction , will I have to pay a fee to the auction site I use?

Learn more about the How To : Buy a Car at Auction - Article. Remember that old proverb, “Marry in haste, repent at leisure”? Spend too much for a car at auction , and those words will weigh heavier than your aching head the next day.

How to Prepare

A lot of car auctions are only available to licensed car dealers, but you can look online and in your local newspaper to find public auctions near you. If the auction publishes a list of vehicles ahead of time, identify a few likely candidates and do a search with whatever information is provided (like looking up the car’s value, or even a car history report if you have the VINs).

Video provided by Inside Edition

Most auctions are full of cars that come from municipal impound lots – auctions often feature cars that have been towed, abandoned, or seized. In most cases, these aren’t going to be the most appealing, safest, or well-maintained vehicles, but there can be some gems that would otherwise go overlooked. Other possibilities include former rental cars or other types of fleet vehicles (like corporate cars or decommissioned police cars).

Jerry Garcia guitar on auction to back rights group

  Jerry Garcia guitar on auction to back rights group One of Grateful Dead legend Jerry Garcia's most famous guitars is going back on auction, where it could fetch more than $1 million to back a civil rights group.  Known as Wolf, the electric guitar was custom-made by luthier Doug Irwin. Garcia debuted it at a 1973 concert in New York before the instrument -- along with Hell's Angels bikers -- became ever-present during the Dead's perpetual touring.

How to buy a used car without all the typical agony will depend on you doing a few things differently than what you have done in the past. Good preparation will help alleviate the headaches and the familiar buyers remorse that most people experience after buying a car . The Gov- Auctions website

How to Buy Cars at Auction in Massachusetts. How to Get a Car Auction License. How Much Do Dealers Pay for Cars at Auctions ?

Stay calm on auction day. It’s easy to get excited or overwhelmed; there’s a lot going on. If you can, visit an auction before the day you actually plan to bid to get familiar with the process as well as the idea of bidding. Experts recommend getting there early and checking out the lot. If you don’t know much about cars, bring a friend who does. Find the cleanest cars you can and take notes on cars you’re interested in – if these turn out to be some of the same cars you researched beforehand, you’re off to a good start. Some auctions will even let you test-drive cars you like.

  How to buy a car at an auction © Chesnot / Getty Images

Benefits

The main benefit of an auction, of course, is that cars, even decent ones, usually end up costing much less than they would at a dealership or from a private party sale. However, unless you’re adventurous, enjoy taking chances, or generally perform well under pressure, the cost savings might be the only benefit.

How to buy a car at an auction

  How to buy a car at an auction A successful day at the auctions can yield a decent car at a very low price. However, there are a lot of ways for the deal to turn sour, too. The worst-case scenario isn’t that you’ll walk away from an auction empty-handed; it’s that you’ll unknowingly drive away in a death trap. If anything discussed in this overview makes you uneasy, buying a car at an auction is probably not the best choice for you.

Everything You Need To Know About Buying a Car at Auction . Avoid getting duped and learn how to bid with the pros by following these 10 auto- auction tips.

How to Buy a Car at Auction . How to Calculate Sales Tax on Leased Vehicles. How to Get a Used Car Dealer License in South Carolina. How to Buy Off Lease Cars by Auction .

Some auctions are more consumer-friendly than others, which can be a big benefit if you’re lucky enough to live near one. While most auctions don’t allow returns or guarantee a car’s condition (more on that later), some offer limited recourse for a bad car under certain conditions. Check out the rules beforehand, and if you can, stick to auctions that offer these perks. Auction cars might not sound all that appealing, but you could end up getting lucky. The day might even be fun.

Drawbacks

There’s no federal law (in the United States) that requires sellers to disclose flaws, damage, or outstanding recalls on used cars. That means that in most auctions, the cars are sold as-is, even if it turns out there’s something seriously wrong with the car you end up buying. Some states have laws about the sale of used cars, but they’re often specifically aimed at licensed dealers and can be hard to enforce in an auction situation when the buyer has agreed to the terms. On the upside, if you buy a car that has outstanding safety recalls, you can take it to your local dealership for that brand, and they are required by law to perform the recall work for free.

Contract sending Babe Ruth from Red Sox to Yankees up for auction

  Contract sending Babe Ruth from Red Sox to Yankees up for auction The Red Sox get another gentle reminder of one of their worst blunders in franchise history this week when the contract sending Babe Ruth from Boston to the Yankees goes up for auction.The priceless artifact, one of the most scared in baseball, is being sold by auctioneer Lelands.com. The copy once owned by Red Sox owner Harry Frazee last sold for $996,000 in 2005."This is the Curse of the Bambino," Lelands' Josh Evans said, via ESPN.com. "It transcends everything. It changed America."Boston ended the "Curse of Bambino" in 2004 with a sweep of the Cardinals. The Red Sox had previously won a World Series in 1918.

Should you buy a car at auction ? Auctions , by their very nature, are pure capitalism at work: the laws of supply and How can I thoroughly inspect the cars before the auction ? The auction houses have moved into the 21st century, and a bidder can begin his or her homework in advance of the sale.

Car auctions are a method of buying a used vehicle that often gets overlooked – sometimes for good reason. If anything discussed in this overview makes you uneasy, buying a car at an auction is probably not the best choice for you. How to Prepare.

An auction isn’t the place for picky shoppers. The goal is to buy the best car you can find at a bargain price, which means that you’ll probably have to put aside preferences such as make, model, and year. Indulging in more superficial concerns, such as holding out for a specific colour, will almost ensure you go home empty-handed.

Finally, many auctions require buyers to pay in cash, which should be disclosed up front on the auction’s website or newspaper ad. Traditional financing isn’t an option here, and you probably won’t be able to put the purchase on a credit card, either. Getting a hold of that much cash can be difficult for customers who are shopping the auctions because those are the only cars they can afford, but there is a bright side: there’s no temptation to over-bid.

  How to buy a car at an auction © ERIC FEFERBERG / Getty Images

A Note About Collector Car Auctions

Readers have probably figured out by now that we’re not talking about classic car auctions — the Sotheby’s, Mecums, and Barrett-Jacksons of the world. But, if that’s what brought you here, the principles are the same: do your research and keep your cool.

Fortunately, these auction companies make the process a little easier for their big-spending customers. The vehicles to be auctioned are published well ahead of time and are accompanied by some background information. Some auction houses even offer expert advice on-site. These high-profile, high-priced events are a culture unto themselves and are worthy of more in-depth research, but they’re not where you’d go to find a mainstream, late-model car.

Exclusive - London's gold benchmark hit by volatility after banks exit

  Exclusive - London's gold benchmark hit by volatility after banks exit Lower liquidity - which fuels volatility - led to the benchmark diverging more widely from the underlying spot price , according to the analysis of ICE and trading data, leaving gold buyers and sellers around the world with large unexpected gains or losses.In the three weeks after clearing was launched, average trading volumes were a quarter lower than in the previous three weeks and the average difference from the spot price tripled to 87 cents from 29 cents, the analysis shows.The biggest divergence, on April 11, saw the auction settle $12.20 - or 1 percent - away from the spot price.

Directions. How to buy at Auction Main Page. How an Internet Auction works. So please come in person if you can prior to bidding and never rely 100% on the pics and a description as the end all be all when buying a used car at Auction .

Last week, we tackled buying a car at auction , but for someone to buy , someone also needs to sell. This second part details how one can go about selling their collector car at auction . Sometimes, a reserve you may have set might be questioned by the auctioneer as bidding is taking place, and

Other Things to Remember

The excitement and high-pressure environment of an auction can work to your disadvantage in other ways. Don’t let yourself get lulled into a false sense of security by watching others bid and buy.

If an auction doesn’t let you check out a car’s VIN before bidding, reconsider buying there. Auctions are an easy way to move around cars with shady histories, and no matter where you’re buying your car, you want to know its background. Without a VIN check, you have no way of knowing if the car has been flooded, has had its odometer rolled back, has been salvaged and rebuilt, or has suffered any other number of unscrupulous but common practices.

Keep in mind, too, that even if you’re not buying cars at auction, others are, and that includes dealerships. Many used car dealerships scour auctions for cars they can buy low and sell high. So keep in mind that if you decide auctions aren’t right for you, that doesn’t mean you’re free and clear of the drawbacks that can come with an auction car.

Avoid salvage auctions entirely. Unless you’re a serious automotive hobbyist, nothing you’d find there is worth buying, and then it’s only suitable for tinkering. It’s definitely not a place to find a safe, reliable commuter car.

Willie Stargell's kids 'blindsided by' late Hall of Famer's memorabilia auction .
So much for "we are family." Hall of Famer Willie Stargell's children and ex-wife are unhappy and hurt that the late Pirates icon's widow is auctioningHall of Famer Willie Stargell's children and ex-wife are unhappy and hurt that the late Pirates icon's widow is auctioning off memorabilia from his career.

Source: http://uk.pressfrom.com/news/cars/-159042-how-to-buy-a-car-at-an-auction/

—   Share news in the SOC. Networks

Topical videos:

This is interesting!