Basic Steps of Buying a Car at a Local Auction
Step 1: Regardless of the type of auction you plan to attend, find a reputable auction house that allows potential buyers to inspect cars before the bidding begins. You don't want to attend an auction that does not allow inspections, or you run the risk of buying a vehicle that looks good on the outside but is a mess on the inside.
Step 2: Set limits on what you plan to spend. Often car auctions are high energy, making it easy to get caught up in the experience. Setting price limits will help minimize your chances of bidding higher than you can afford.
Step 3: Pre-register with auction house. At this time, the auction staff should explain all rules, procedures and instructions.
Step 4: If registering a car, be honest. Give the auction house all the basic details about your vehicle: mileage, condition, title status. Once registered, you will be given a unique number and designated a lot space in the auction yard.
Step 5: Inspect! As mentioned in Step 1, the most important step of any car auction is to inspect the vehicle you plan to bid on. What many amateur auction-goers don't realize is that the second the gavel strikes, ownership changes hands. There's no chance to back out of the deal after you win a bid. So, take a close look before the auction begins and inspect every aspect of the car you plan to bid on. If possible, bring a mechanic along who can give the car a thorough inspection to ensure you won't be surprised afterward by something you didn't see.
Step 6: When bidding, signal clearly to the auctioneer, and if you win a bid, settle up quickly with the block clerk. The sooner you settle, the sooner you can drive away in your new car.
Online Auctions
Online auctions are all the rage at the moment, and often these auctions include autos. While independent auto auction sites do exist, larger-scale — and more well-known — auction sites like eBay are offering cars up for bid. Thanks to the name recognition, a lot of auction traffic is going to eBay, which allows users to search by make, model and even color.
