Car prices are on the rise. If you've been watching the cost continue to climb over the past few years (even for used cars) you may be wondering if there's any way to find a reliable car that you can actually afford.
Auto auctions might be the answer to all your problems.
But before you can enter an auction and win a drivable car, you have to know what to do and what to look for. Otherwise, you could end up with a car that doesn't last very long.
We've put together this guide to help you learn how to buy a car at an auction while also ensuring it's good quality and safe for you and your passengers.
So, make sure you keep reading below to learn some helpful tips!
Find Some Auctions in Your Area
The first thing you need to ask yourself is whether you want to attend an auction in person or do one online. There's no right or wrong answer.
Online auctions can be easier and more comfortable. They also give you more options to choose from, and you have more time to check out the cars and pick ones you like.
Want to try winning a car from an online auction? These links (https://sca.auction/en and https://abetter.bid/en) are some of the best options out there.
Physical auctions, though, can be more fun. If you want to feel the thrill of bidding, you may want to find an auction that gets you out of the house.
Keep in mind, you may not be able to participate in some auctions. Dealer auctions, for example, require you to have a dealer's license to bid. Without one, you'll need to stick to public auctions instead.
Research the Cars in Advance
No matter what type of auction you choose, spend some time researching the cars in advance. You should be able to view each individual listing and get more information about the cars':
- Ages
- Conditions
- VINs
- Mileages
- Previous owners
- Accident histories
- Maintenance histories
- Etc.
This will help you narrow down the choices and find the car that fits best with your needs.
Have a Backup Pick (Or Picks)
Don't get your heart set on winning one, specific car. You might not win the bid, and if you're too invested in one choice, you'll be hit with serious disappointment.
Instead, be flexible.
Pick a few different cars you're interested in. If you lose your first choice, you can then move onto your second, third, or fourth.
Make Sure You Know the Rules
Every auction has its own set of rules. Make sure you take a look at these in advance so you know what you'll need and how the process will work.
Do this as early as possible. Some auctions require you to register by a certain date, and if you miss it, you'll lose your chance of driving your favorite car home.
Figure out How (And What) You'll Pay
Do you have to pay in cash? Does the auction accept credit cards? Are there any other fees involved (not included in the total price of the car)?
Make sure you know the answers to these questions before you start bidding. Otherwise, you may not be able to walk away with a new-to-you car even if you win.
Show up Early
If you're attending an in-person auction, do your best to show up early. The dealers may give you a chance to take a look at the cars up close, which will help you notice small details you may have missed when you were looking at them online.
Some auctions will allow you to bring a mechanic with you for this part, but make sure you ask first.
Stick to Your Budget
Set a budget before you start bidding and STICK TO IT! It's easy to get caught up in the bidding and go way over what you can afford, but this can lead to some serious financial trouble.
So know your absolute top price and don't go above it.
If you're worried you won't be able to stop yourself or keep yourself accountable during the auction, have someone there with you. They can help keep you in check, so you don't overspend.
Start Small When Bidding
Don't start with your highest bid. Even if no one outbids you, this isn't a smart idea. You may be able to get the car at a much cheaper price if other people aren't interested in it.
The auctioneer will give the car a starting price. Then slowly build off that price and other people's bids. Following this strategy may be able to help you save some money!
How to Buy a Car at an Auction and Actually Win
Bidding might seem easy, but it can take some practice. So be patient give yourself time. The more auctions you attend, the better you'll get at finding good deals and making smart bids.
You'll be able to buy a car at an auction in no time!
After that, make sure you get your car inspected by a professional to catch any damages and make needed repairs. You should also get your hands on a detailed history of the car (if you don't have it already).
Not sure where to find it?
We can help! Don't hesitate to check out EpicVIN after you've finished bidding. Our team can help you find the history of your car, so you know what you're driving!
