Getting a car while on a tight budget can be challenging. Instead of buying a brand new one, try bidding for a vehicle at an auction. It’s an easier way to look for a late-model, second-hand car.
Like paintings and other works of art, auctioning cars off to the highest bidder has become prevalent. Auction houses have vehicles ranging from trucks and machinery to motor vehicles. Below, Pickles Auctions has a list of things you should be mindful of when buying a car at an auction.
Research About the Car You Want
Buying cars from an auction is more cost-effective than getting one from a car dealership. Before bidding, make sure you have done your research. Know what your future car is worth and how much it’s selling for.
Some auction houses do not allow test drives. Before you bid, be informed of the car’s service history. Make sure it is well maintained, so you won’t have to spend more money trying to get it fixed. Is the condition report missing or incomplete? That’s bad news. Back out before you make a costly mistake.
Here’s another tip: check the paperwork and see if there are any warnings or debts on the pre-owned cars at the auction.
Part of research is working out which car is right for you. Assess your needs and consider the following:
- How many passengers do you intend to carry?
- Is fuel consumption important to you?
- Which safety features are essential for you?
- How big is your garage or parking space?
Still unsure? Have someone accompany you during the auction – a person who can give you sufficient information about what you intend to buy.
Bid Within Your Means
Before deciding which model you should bid on, try to set a budget first. Think about how much you can afford and look for cars within that price range. Check for prices of similar models on private and dealer markets.
Car auctions can be a great opportunity to find cars at a lower price, especially when you’re on a budget. But, there are things you should keep in mind before you set your mind on a car. Keep in mind that research goes a long way; also, set a budget and spend within that range.