Auto auctions can be a goldmine for the prospective car buyer with many makes and models being offered for sale at wholesale and below prices. As well as reduced prices, buying at auction also removes the ‘middle-man’ from the equation and savings made over cars bought from a dealer can extend to thousands of dollars.
How is it possible that these cars are offered at substantially reduced prices? Cars that are seized by police, seized by the Tax Department, repossessed by banks and financial institutions and Government excess stock all cost money to keep in storage so they are keen to sell them fast. The quickest and easiest way to move these vehicles is to offer them at discounted prices.
Car dealers know of the benefits of buying at auction to maintain their profit levels, but not many members of the general public realize that they too can buy from the same auctions. There are many good resources on the Internet where you can search for cars and some sites also offer online bidding and with literally hundreds of auto auctions going on each and every day the range that is available is massive.
We’ve had a look at the benefits of buying cars at auction, but what is the downside? Basically a pre-inspection by someone who you can trust is a must. When you are the winning bidder on a vehicle there is usually little opportunity for a refund if you are not happy with your purchase, so you must know what you are buying before the bidding takes place. Generally there is a viewing day where you can look for suitable vehicles and have them inspected, however a test drive is usually not available.
One other downside is that warranties are generally not offered unless the car is reasonably late model and is still under the factory warranty. These downside’s need to be taken in to consideration however with the amount of money that you can save yourself chances are you will be way out in front once the deal is done and you will have found yourself a much newer or up-spec vehicle than you could otherwise afford.
For more information and reviews of the top Auto Auction sites available today please visit our Auto Bargain Reviews
Craig Wilson is the author of Tried n Tested a review site for online products and services.