Buy your next car at auction and save money!
Auto auctions can be a gold mine for the prospective car buyer with many makes and models offered at wholesale and below prices. In addition to the reduced prices, buying at auction also removes the ‘middle man’ from the equation and the savings realized with cars purchased from a dealer can extend into thousands of dollars.
How is it possible that these cars are offered at substantially reduced prices? Cars that are impounded by the police, impounded by the Tax Department, repossessed by banks and financial institutions, and overstocked by the government cost money to keep in storage, so they are eager to sell them fast. The fastest and easiest way to move these vehicles is to offer them at discounted prices.
Car dealers know the benefits of buying at auction to maintain their profit levels, but not many members of the general public realize that they too can buy at the same auctions. There are many good resources on the internet where you can search for cars and some sites also offer online bidding and with literally hundreds of car auctions every day the range available is huge.
We’ve taken a look at the benefits of buying cars at auction, but what’s the downside? Basically, a prior inspection by someone you can trust is a must. When you’re the winning bidder on a vehicle, there are generally few opportunities for a refund if you’re not satisfied with your purchase, so you should know what you’re buying before bidding takes place. There is usually a viewing day where you can search for suitable vehicles and have them inspected, however there is usually no test drive available.
Another drawback is that warranties are usually not offered unless the car is a reasonably recent model and still under factory warranty. These downsides need to be taken into account, however, with the amount of money you can save, chances are you’ll be way ahead once the deal closes and will have found a much newer or upgraded-spec vehicle than you ever could. otherwise afford.