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Used Car Auctions – Opportunities for Great Deals

Updated on October 15, 2014

Buying a used car at an auction can be much profitable many times if we are well aware of the auction environment. It is better to know everything about these auctions before venturing suddenly to make a purchase to avoid ending up in owning a lemon car.

Auto auctions are exciting because there is an atmosphere of competition amongst the bidders. But remember not to get carried away in the excitement. And therefore there is a need of getting a feel of a used auto auction before you buy a car there.

Some Things to Remember are:

  1. Visit a car auction first not to buy a car but just to get a feel of the auction and know the process.
  2. t is better to take someone well-versed with cars and car auctions when you are new to them.
  3. It is very important to read and understand the terms and conditions of the auctions.
  4. Remember that when you buy a used car at auction, your legal rights are very limited. There is in fact Sale of Goods Act but auction houses can exclude its main clauses like necessity of good quality. This is mentioned in the terms and conditions which you have to read carefully. Also your rights are against the person selling and not against the auction house.
  5. Once you decide to buy the car at auction, remember some things, like:
  • Strictly stick to the price you have decided to pay. If the bid price is going beyond that better leave that car how ever excellent it is.
  • Remember that you have to pay more than the hammer price because of extra charges.

6. Check the car immediately after the payment. You have very limited time to do that.

These are only some warnings and don’t mean that you should totally refrain from the auto auctions. If you do, you may miss an actually great automobile market.

Auction Types for Used Cars

Generally there are three types of pre-owned car auctions, viz. government auctions, estate auctions and online auction.

Government Auctions

Government auctions for used cars contain vehicles with distinct pasts. These auctions are free to attend. You get a chance to watch two types of vehicles here. One is the seized vehicles by the police and other law-implementation agencies for the government. Second is of the vehicles previously in use for different government agencies. The condition of these cars is variable and you should examine them thoroughly.

Estate Auctions

These auctions are of the property owned by a person because of his or her demise or financial loss and are held by auction houses. Estate auctions are more or less like garage sales for people passing by. Many times it happens that you get a good find in these auctions. It is also quite common that the condition of these cars is much better than those sold in other auctions.

Online Auction

Nowadays online auctions for used cars have become much efficient and convenient. You get a car of your desire at the comfort of your home. Moreover you get the widest choice. With a click of mouse you get innumerable cars to view. You just need to have an idea about what you want exactly and you have all chances to get it in online used car auctions. Here your entry to the auction is free; plus there are no extra payments or commissions to be paid. It is better to choose a reliable agency however which is true about an offline auction too. And you can also demand a prior inspection of the car to protect yourself from landing into buying a defective vehicle for a price.

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