Car Auction Tips

More and more of us are turning to car auctions to pick up a bargain – and why not? They aren’t the dodgy dealerships that they used to be – far from it. These days, auctions vary by lot but you can buy everything from a cheap used motor all the way up to absolute top range prestige wheels.

With credit being hard to come by, auctions are becoming an increasingly popular way in which to buy a car. With this in mind, I thought it would be useful to provide you all my top tips on how to conduct a successful auction experience – without walking away with a lemon or something completely unsuitable for purpose.

Visit Before You Buy
Auctions can be extremely interesting places, full of cars, dealers and people with a gleam in their eye after getting a bargain. However, it’s worth visiting the auction physically at least once to see how it all works. You’ll be more comfortable when it comes to buying for real and you’ll have an idea of how the whole process works.

Choose Your Auction
British Car Auctions are the way to go, but also recommended are Manheim. There are other auctions that specialise in various types of vehicles, so do your homework before turning up to buy your hatchback only to find the lot is filled with 4×4 vehicles.

Arrive Early
Whatever day you pick, arrive before the auction process begins. This will allow you to have a good look around and decide whether there’s anything that you’re actually interested in.

Set A Budget
Well, this one is self-explanatory but incredibly important. Know how much you’re walking in there with, factor in the auction house costs (these can mount up so read everything fully), insurance and any immediate maintenance work that has to be carried out (if you’re buying a banger). Stick to your budget.

Look At The Vehicles Properly
Some auctions will allow you to return a car within three days, others are completely sold as seen – so if you buy a complete wreck you have no comeback at all. With this in mind, look at everything you can on the car. You can’t drive it but at least you’ll have a chance to listen to the engine. If you can, take an expert with you, or at least someone who knows what to look for. Vehicles at auction can still come with a good service history, so look for that too.

Don’t Go Auction Crazy
Auction fever is a well known problem – when you can simply get carried away and begin bidding on stuff that you don’t really want, or smash your budget on a car that you do. Let your head rule your heart here – this is real money after all.

Don’t Look An Idiot
Auctions for some are very serious business – so try not to annoy people or otherwise get in the way when the lots start shooting out. It’ll be even more silly if you take your other half and they decide to bid as well as you – so avoid this issue.

Confirm Payment Methods
If you’ve been lucky and managed to be the winning bidder on your perfect car then go with the correct method of payment. Cash is nearly always fine (though there may be an upper limit due to money laundering rules), debit cards are ok too. Again, each auction is different so thoroughly read everything before jumping in, but when you’ve won, pay as quickly as you can.

Ultimately, auctions are a great experience and I can heartily recommend you attend and purchase from at least one of them. I know they aren’t for everyone but should you decide to go down this route to score a cheaper car you’ll no doubt soon get a buzz from the whole thing.