Car auctions allow normal, working class people, as well as dealers, to go and get a great buy on a used vehicle by bidding against other potential buyers. These auctions are held mostly in large, metropolitan areas and will often last for hours. People bring money, take a seat in front of an auctioneer, and watch the cars flow in. From there, bidders are able to choose the cars of they prefer and bid aggressively until their target vehicle is found. Sometimes, not enough interest and too few bids mean cars don’t sell. Unsold cars are usually entered in the next week’s auction for new potential buyers to bid on.
The purchase process is fairly simple. Once a buyer has won his or her bid, he or she proceeds to the payment office and submits payment, whether by money order, check, cash, or debit. Payment preference is mostly up to the auctioneer and should be discussed prior to bidding in order to be prepared. Once payment is made, the title is transferred into the buyer’s name. This paperwork takes about one to two weeks to be completed, but when you receive the title in the mail, the car is officially yours.
Now, prior to the auction’s start, you’ll be able to examine the cars ithoroughly. It’s suggested that you take an experienced mechanic along to view the vehicles to ensure you’re not purchasing a defective car. It only takes a few minutes to look over the interior and power train if you know what to look for. If possible, take a Smartphone along to view the Kelley Blue Book listings. This way you’ll know the resale value for any vehicle you bid on. Most importantly, enjoy the experience. Many people have found fantastic deals at an auto auction, and you can too.