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Tips on Buying Auction Cars
Submitted By: larry in Auto Tips category
 Nowadays car auction is getting popular for car buyers and dealers. There are many things that you must know about before attending a car auction, especially if it’s your first time. If you are not familiar with the rules about how an auction operates you can make a few mistakes which can lead you to a problem and the deal can be very costly. So for a better deal at a car auction it is recommended to follow these helpful tips.
Many people buy cars by seeing ads in news paper, going to the sellers place, viewing the car then they negotiate the price. In this type of buying you can take your time, can take a test drive, and if the deal does not suit you, you can chuck it.
But buying a car in an auction is different from this. The scenario at the car auction is far different and complex, and this is what puts many people off from buying a car through auction. But if you are experienced and have enough knowledge about how to handle the auction deal, then you can change the deal towards your favor.
Some Car Auction Rules:
- Sold ‘as seen’: This means exactly what it says, you get what you see. Any vehicle at a car auction which is offered for sale ‘as seen’ cannot be rejected or canceled under any circumstances. Once the deal is done, no complaints or problems about that car will be entertained. This can be a bit harsh from the buyer’s point of view. So it is recommended to be very careful before closing such deals at a car auction.
- Sold ‘With Trial’: This rule can vary from auction to auction. It’s important to check with the auction staffs and verify what conditions are there for Sold’ With Trial’.
Generally for a deal like Sold’ With Trial’ you get an hour after the deal to check and return the vehicle. You can check for any major engine faults like gearbox problem, engine problem, problem with steering rack etc. during the test drive.
But some auctions may have different terms and conditions so it is better to confirm with the auction staffs before going for a deal.
- Indemnity Fees: This is an amount that you need to pay on top of the purchase price of any vehicle. It is generally known as ‘buyer’s premium’. These fees vary from auction to auction. If the fee is not displayed at the auction area, check the auction staffs how much you need to pay as ‘buyer’s premium’. These fees should include “HPI” check on the car you are buying. This provides you full legal title to the car.
“HPI” check covers items such as:
- About cars police verification.
- NOC from finance company.
- Whether the car had number plate transfer.
- Conformation on “VIN” (chassis number).
- Checks if the car ever been an insurance” total loss”.
- To Be Inspected: You are supposed to inspect the car you are interested in long before you buy the car. There are many things to be looked after while going to buy a car from an auction. Better to inspect the car when it is parked or it will be difficult to check when it is lining up to be sold and then everybody else will be looking. Have a quick look around the car just for a check for any major accidental damage or dents in the bodywork, like panels or bumpers etc. Have a look at the windscreen for any chips or cracks. Go through the windscreen tickets properly it can help you to get some valuable information about the car. If you are unhappy due to any of the above reason it is better not to buy the car but try to find another car.
So these are some of the car auction tips which one should follow while going for an auction to get a better deal.
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