There are many benefits of auction car buying. The advent of ebay has enlightened many that the option to purchase a car via auction exists in the first place. However, this isn’t the only place you can look for a car being sold at auction. ebay, rental cars, seized car auctions, lease returns, salvage auctions and even used cars that dealers don’t want anymore all present an avenue for you to purchase your car at auction. So, what are the benefits of buying through an auction?
The biggest benefit of buying your car at auction is obviously the price. You don’t want to be deceived into thinking that you are going to get an amazing deal though. Any deal that is too good to be true probably is. Bids will usually start low on auctions, but they can escalate quickly and even spiral out of control. You can save a fair amount of money but you need to pay close attention to what you are buying and ask as many questions as possible. Online auctions make this process more difficult as you are probably purchasing a vehicle without first seeing it person.
Another advantage of buying at auction is that the cars are generally in good condition and fairly new. This isn’t always the case, but more often than not it is. Additionally, many auctions already have pre-printed vehicle history reports allowing you to check up on the history of the car you are thinking of buying.
If you are looking for a hard to find or a rare vehicle an auction may be the only way you will ever be able to find it. Since the vehicle is rare or unique you may only be up against a limited number of bidders, depending on the car.
Lastly, most anyone can buy a car at auction, assuming you have the money, are over eighteen and know where the auctions are located. The exceptions, of course, are dealer-only auctions. Once you pay for the car and fill out the paperwork you can take it home with little to no fuss.
Despite the benefits, there are some considerations you need to be aware of. The final cost of the auction will not be what you pay. Tax, and auction and license fees may push the cost of the vehicle higher than you intended. Many auctions also require you to pay for the car immediately without financing. Lemon laws also don’t apply and there is no return policy or extended warranty. If you buy your car from an online auction you may have to travel in order to acquire the vehicle, incurring further costs. Still, the benefits may outweigh the disadvantages and buying at auction may be the right way for you to purchase your new car.