I've purchased many used cars throughout my existence, but until recently, I had never purchased a used car at a public auction. Recently, I was looking for a vehicle in the nickle ads and I came across an advertisement for a local public auction house that was having an event on the coming weekend. The thought of buying a vehicle at a public auction was intriguing, but at the same time, very intimidating and went against my best judgement. Thoughts of "you're taking a big risk" and "you don't know what you'll end up with" flooded my head.

Being the impulsive sort that I am, I decided to do it anyway. (You'll hear more on my impulsive nature a little later.) Though I try to be cautious and thoughtful about big decisions, especially those that concern large sums of money, the "feel good decision" usually wins out.

This transaction was no different. I entered the deal very well prepared and thought out. I did some things very right, and I made some big blunders. In the end, though,I enjoyed the experience and I'm satisfied with the results. I purchased a decent vehicle at a fair price.

I've decided to outline my experience by categorizing my purchasing process into two groups. Things that I did right - and....well....the blunders.

1. Know what you want.

I went into this transaction knowing that I wanted an economical 4-door car. It had to have air conditioning since we live in a fairly hot part of the country. I also had to have cruise control because I despise driving a vehicle on trips when the car has no cruise. It had to have decent headroom since I'm 6'5" and I don't like driving a car in which my head touches the ceiling.

That was my complete criteria going into the transaction. All else was negotiable.

2. Find the vehicles that meet your criteria.

Most public auction houses that I've seen will post a list of vehicles on their website in the days leading up to the auction. Usually, they provide very little detail about the vehicle, but enough to know if you have any interest.

From this list, I made a list of the vehicles I wanted to see and begin researching.

3. Inspect vehicles on preview day

The day before the auction, the auction house was open to the public for access to the vehicles being auctioned. I took the time to go to this viewing to get more details about the cars and weed down my list.

Several on my list either had no air conditioning or cruise control or I had to scrunch in the seat to keep my head from brushing against the ceiling, so I removed them from my list.

The rest, I made several observations and evaluations of the condition so that I could better determine their value in further research later. With notepad in hand, I listed all visible amenities and power options. I made sure to observe the tire condition, internal condition, external condition, engine compartment (including battery age, and evidence of fluid leakage), the vehicle's mileage, and the VIN number. Then I started each car to listen for unusual sounds (ticking, missing, exhaust leaks). From this data, I gave the vehicle an overall rating.

4. Research vehicle values

Later, that day, I got on my computer and looked up each vehicle to determine a market value based upon the data that I had gathered earlier. Services such as Edmunds, Kelley Blue Book, and NADA are all online and provide the user with an estimate of the market value for the vehicle.

I determined the maximum I was willing to pay for the vehicle based upon the wholesale value, or trade-in value, for the car. My goal was to purchase a car that I could drive for a few months and then sell it easily for a small profit. Since I don't own a dealership, It is difficult to sell a vehicle for top retail value, so I hoped to purchase a vehicle for a "song and a dance".

5. Get a vehicle history report

I subscribed to AutoCheck. For about $25 for I received 2 months of unlimited use. With that, I was able to pull a history report on every vehicle I was interested in. CarFax is probably the industry standard for vehicle history reports, but they cost a little more, so I went with AutoCheck.

Many of the vehicles on my list had "rebuilt titles". Those were vehicles that had been been totaled and subsequently rebuilt. I didn't come across any vehicles that had come from New Orleans and were repaired from flood damage. Depending on the nature of the damage, I didn't eliminate autos with rebuilt titles, but I certainly discounted them.

1. Don't allow yourself enough time

The day before the auction, I took a lunch hour away from my job to preview about a dozen cars. I'm here to tell you, that you can't do a real thorough job of inspecting and evaluating that many vehicles within only one hour. To do a proper job would take me at least 15 minutes per vehicle, and even then, only if I'm well organized.

2. Get off your game plan

Once you have selected your vehicles of interest and have establishied your maximum bid, stick with it.

I did a very good job of refraining from bidding up higher than my established maximum for each vehicle. I'm proud of myself for that. I can see how I could easily get a little emotional and excited by the process and forget the rules.

My blunder came when the last car came through the line. It was a 1997 Camaro. I used to own an older Camaro and really liked it. Also, my 15 year old son was with me and, I think he envisioned himself driving the car to school next year.

I hadn't even researched this vehicle but felt compelled to bid, anyway. The bid was at a level that I was certain was a fair price for the car - not great, but fair.

3. Ignore your best judgement

I signalled to the auctioneer that I wanted to place a bid. Instantly, I got that feeling deep down that I had made a huge error in judgement. "What will my wife say when I tell her what I bought?" "This isn't what I came here to buy."

Basically, I broke every one of my 5 rules for purchasing a vehicle at an auction that I established above.

Oh, the relief when somebody bid it up a hundred dollars. I was off the hook. "Wow! That was close. The bidding closed. They approached the winning bidder, only to find that he hadn't bid, but his signal was perceived in error. They came back to me and asked if I still wanted the car for the price that I had bid.

Since I would never want someone to think that I'm wishy, washy or indecisive and don't know what I want, I had to take the offer. After all, I had bid that price for the car, earlier. Would I change my mind that quickly?

I'm happy (not extatic) with my results and will most likely go through the process again, though smarter and with more experience.

During the auction, I passed on many vehicles without bidding because the bids quickly climbed past my maximum bid amount. I was determined to stick with my plan and not overbid. I was pleased with myself that I accomplished that goal.

The fact that I purchase a car that I had not properly researched, could have been a complete disaster. As it turns out, the care runs and drives good. There are no noticeable mechanical problems. There were a few things that needed to be repaired, such as the air conditioner, the crack in the windshield, and the mechanical remote control for the drivers side mirror. Cosmetically, there are a few issues on the interior and exterior. Most of those will be left as they are, as they are inconsequential to the safe and comnfortable function of the vehicle.

The car averages about 21-23 mpg in mixed driving (much better than the 13 mpg I was getting with my Dodge pickup.) It is a 2-door with almost no room for passengers in the back seat. It has air conditioning (now that it's repaired) and cruise control, but no headroom for a driver of my size.

My final analysis is that I purchased a decent vehicle at its fair market value that one would expect to pay to a private party. I grade myself a C+ in this activity, knowing that next time, I'll do much better.

Please, allow me to be perfectly clear on the point that this hub is strictly a review of my experiences and is not intended to be an all inclusive system that will guarantee success when buying a vehicle at a public auction. It is simply food for thought. If you ever attempt a stunt, such as purchasing a vehicle at a public auction, I suggest that you establish some rules for yourself and stick with them.

May your experience be at least as positive as mine.