When Buying a Car at Auction

Buying a car on auction can be a great way to save money, although an individual will need to make sure they know how the auction process works before they make a bid. Here are some tips on what to look out for when purchasing a vehicle at auction.

1. Research is important

Attending a car auction as a spectator first will enable an individual to see how the process works – a must if they don’t know a lot about cars. Bringing someone who regularly attends car auctions with them can be a source of guidance. They will need to check out the listings on the auction house’s website before they attend to get a rough idea of the vehicles available.

2. Inspecting the vehicle before making a bid

When buying a second-hand car at auction, a consumer will need to make sure they inspect the vehicle first. Some cars will be on display for them to examine before the auction starts; other times they will be listed on the auction house’s website. Whether they are inspecting photos or the vehicle itself, a customer should look out for any signs of damage or general wear and tear. Paying for expensive car repairs could cost them more in the long run if they don’t.

3. Budgeting

The auction process can be exciting. However, an individual should try not to get carried away with the excitement of it all and keep in mind the market value of the vehicle at all times.

4. The history of the vehicle

Finding out more about the history of the car is really important and will provide drivers with more information about the state of the car. Some auction houses will issue a disclaimer that the vehicle can only be ‘sold as seen’, where the driver will have to waive their rights under the Sales of Goods Act. This means that they will have to accept the conditions of the auction when they place their bid.