Public car auctions might be the perfect place to look if you’re in the market for a new car but don’t want to break the bank. Statistically, over 9 million vehicles are run through auctions in the USA annually. With a wide variety of vehicles from which to choose, car auctions offer a great way to get a reliable car for a fraction of the cost. But if you’re new to the car auction game, it can be easy to make mistakes and end up with an unreliable or overpriced car. To make sure you get the best deal, here are some insider tips on how to score the best deals at car public auctions.
What Are Public Car Auctions?
A public auto auction is a marketplace where people sell their cars to a dealer who then resells the vehicle at an auction. The dealer will advertise the auction in the local newspaper or online, and the cars are available for anyone to bid on, not just the original owners. Many car auctions are run by government agencies that may have seized or repossessed the cars due to unpaid taxes or being involved in criminal activity.
The types of vehicles that are sold at car auctions vary widely, from luxury cars to old beater cars. The price range for vehicles sold at public auctions is also extensive, and you can often find a good deal if you know how to spot a good car from a bad one.
Benefits of Buying a Car at a Public Auction
One of the most incredible benefits of purchasing a car at a public auction is that you can get the best deals here. While it’s true that you can find a great deal on a used car at a public auction, keep in mind that there are risks associated with buying a used car in general. A car auction may have great deals on certain vehicles, but it’s important to note that there may be hidden issues with the vehicle that the previous owner didn’t adequately disclose.
Another benefit is Bargaining down the price. Even if you’re buying a new car, you can still try to negotiate the price down by a few hundred dollars.
Tips for Finding Great Deals at Car Public Auctions
- Know the make and model of the car you want – Before you head to the auction, be sure to know the car’s make and model. This will make it easier for you to quickly filter the lots and find the vehicle you’re looking for.
- Inspect the car before bidding – If you want to make sure you don’t get stuck with a lemon, it’s a good idea to have the car inspected before you make a bid. This way, if you buy it, you’ll know exactly what problems the car has, and you can factor those costs into your budget.
- Have a budget and stick to it – Before you go to the auction, have a budget in mind and make sure you stick to it. Ensure you have enough to cover the cost of the car, the cost of insurance, and the cost of getting the car inspected by a mechanic.
Check the Payment Terms
Find out how long the payment terms are before you bid on the car. The longer the payment terms, the more you’ll have to pay upfront. Make sure you have enough money saved to cover the down payment and the first few monthly payments. If you win the auction, make sure you get a copy of the title for the car. The auctioneer will usually provide you with a bill of sale that will be used for the transfer of the title.
Conclusion
A public car auction is a great place to start if you want to save money on a new car without putting a lot of money down. Just make sure to research the make and model of the car you want, have a budget, and inspect the vehicle before you make a bid. After that, you’ll surely find a great deal on a car.
