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Auctions, Private Sales, And Dealers: 3 Ways To Buy Used Cars

Monday, June 25th, 2018
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There are many reasons to buy a used car. Maybe you have a teenager ready to drive, or your spouse needs new transportation. Buying a new car for each family member isn’t always financially possible, so looking at the used market is necessary. One of the biggest advantages to buying a used vehicle is that the original owner has already absorbed depreciation costs. This allows you to find a car at a better price. Some of the most common ways to buy used cars include private owner sales, dealerships, and at auctions.

Private owner and dealer sales

Some private owners sell used cars as a means of making extra cash. Private dealers purchase vehicles from other owners, fix them up, and resell them for a profit. The condition of vehicles you see in private sales will vary. Some of the cars are sold by proper mechanics that can repair issues the car may have. Others will be sold by individuals who have no experience working on vehicles.

Buying a used car from a private owner comes with its risks and advantages. Some sellers may not be aware of the vehicle’s actual value, so you might be able to find a used car for a great price. In some cases, these sellers are trying to get rid of the car quickly so the price may be negotiable. These sellers may not know the true condition of the car either, so it is a good idea to test drive and even get an inspection from a mechanic.

Beware of the scammers out there who offer used car deals but do not even have a vehicle to sell. A fake seller might post several pictures of a car online along with a story that sounds believable. These scammers will try to have you wire them money so they can ship you the car. In these situations, the buying party rarely ever gets a vehicle. Never pay for a car you haven’t been able to sit in and start yourself.

Car dealers

Used car dealers don’t always have the best reputation. Shop around and make sure to check out online reviews of the businesses you visit. Finding a reputable used car dealer can be worth the time investment.

Reliable used car dealers will do their best to take care of the exterior and interior of their cars. Some even use industrial-grade cleaners to make their cars shine like new. The work put into making a used car look great will be considered when the dealer prices the vehicle. Detailing takes time, materials, and labor, which will be reflected in the ticket price.

Most used dealers are able to offer you financing options, so you may not have to find another lender. This type of financing will also cost you an interest fee, which will vary depending on the dealer you go through. Make sure you aren’t paying too much in interest.

Buying used cars at auction

A used car auction can be the best way for you to purchase a used car, whether you understand mechanics and values or not. You will not be able to drive the cars before purchasing, but you can look at them before the sale for an inspection. Arrive early and you will have time to look at the vehicle you’re considering and even get a chance to start its engine.

Before you attend a used car auction, find out which vehicles will be going up for bid. Research the ones you are interested in and find out the value using Kelly Blue Book or Edmunds. You should know an estimated value of the car and what your budget is before you find yourself in a bidding war.

An auction is a great way to get a deal, but be sure to go as an informed bidder before you attend. Visiting a few sales before purchasing is an excellent way to learn the process of buying cars at auction. You can also call auction houses to ask about specific rules they may have.

To learn more about how to bid at a car auction, contact the experts at High Plains Auctioneers today. Give us a call at (806) 244-6776 or Contact Us via email for more information about Buying or Selling at auction. Don’t forget to check out our Upcoming Auctions to see what we have available!