Car Auction Tips
Have you ever wondered what happens at car dealer auctions? Car auctions are a great way to take advantage of savings. Not only for the dealer but the consumer as well. You can save thousands of dollars on car buying. If you go through a dealer that purchased cars this way, it could save money on the whole transaction. You may even purchase more than one car at car auctions. This could make more money in bulk transactions. Passing on even more savings to the consumer. You eliminate a lot of fees and extra pay you may spend on a normal car purchase. There are car dealer auctions where if you shop smart and research you can save big money. Shop right and know your market to get the best value. You can buy higher end cars, as well as classic, and then your daily driver at a car auction.
You could get lucky and find last year's model with low miles at a dealer car auction. It could be a lease vehicle or even a fresh trade in. A great example would be if a specialized dealership took in a trade and it was not a typical car sold on their lot. They may have sent it to auction. You would be snagging a great deal if you got this car. There would be so many miles left on it. Those are the kind of deals that are amazing to find at a car buying auction. Typical auction cars are 10 years old, with about 100,000 miles on them. This is a good market for the average shopper.
Some tips for going to the auto dealers’ auctions
- Know your market and do your research
- Look over the cars before you buy them
- Get there early
- Know what you are buying and who you're buying it from
- Know who is in the market to buy and consider what they are buying
You can walk around and look over the vehicles ahead of time. You can look at what year and the VIN number of the car. There is information on a sticker inside of the window. You can get a lot of information on a car by running the VIN. This can help you assess whether you would like to bid on it or not.
There are apps you can use to help assess the value and other info of the car. That helps you make a more informed decision at the auctions. The majority of the auto auctions are dealer only. Either you have to purchase a dealer license to get in or buddy up with a dealer willing to help you gain access. Some are consumer only, which are harder to find and dependent on the state. However, they are still worth finding if you are willing to find that deal.
The savings of going to a dealer that uses auto auctions or finding one open to consumers is worthy of a second look, whether you’re in the market for a new car or an antique muscle car, the market is wide open at car auctions. The possibilities are endless. Saving money is a great way to gain the depreciating capability in an auto purchase. It may make you not so upside down on an auto purchase. Just ensure that you do your research and know what you're getting into.