Car Auction Tips

If you are thinking about purchasing a used car and would like to save plenty of money, one of the best ways to do so is via auction.  Car auctions have always been popular, however today with many vehicles being repossessed, prices at auctions are as low as ever.

Here are some tips.

Government Auctions
Whether it’s federal, state or a local car auction, there are a few things you should know.  First off, there are plenty of rules to follow with these types of auctions.  Make sure you read up on them before you attend.  Usually, these auctions require you to have a bank certified check to put down a deposit or pay in full for the vehicle and there is a certain time to view the vehicle to be auctioned on.

Private Auctions on Ebay
Every once in a while, you will find a quality auction run on Ebay for an auto with no reserve.  This means that there is no floor in which a person must bid to in order for a sale to go through.  So whether it is $50 or $10K, the car sells.  These auctions can save you big, but again, it is up to you to check out the car before you make your bid.  Many auctions of this type sell the vehicle as is with no recourse afterwards, so do your homework.  In most cases you can get a great deal.

Commercial Auctions
Many times a used car dealership or private auctioneer will hold car auctions.  These auctions are similar to government auctions, however there is more leeway in which to see the vehicles and pay for them.  Since it a private business or individual selling the car, you can make an agreement directly with them based upon your payment preferences and whether or not you can view the vehicle and take it for a test drive before bidding.

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