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How To Buy A Used Car At An Auction

Friday, February 5th, 2016

You may associate auctions with antiques, artwork, or even farm equipment, but did you know that you can also buy a used car at an auction? If you are looking for a quality used vehicle, an auction is an easy and secure way to purchase a vehicle. It is best to prepare before attending this type of event. First, you must assess the value of a used car before the auction and know your budget. Then, you can get the history of the used car or vehicles you are interested in buying. Finally, ensure that you will get the title for the used car after the auction.

Assess the value of the used car before the auction

Before you head into a vehicle auction, it is important to take a look at the auction catalog to see what types of cars are available. Once you see used cars you are interested in, you will need to refer to the Kelly Blue Book or other vehicle value listings. These listings will give you a solid base with which to bid at the used car auction and ensure you don’t pay too much for a vehicle. Keep the information with you while you are at the event in case you need to refer to it during bidding.

Know your budget before buying a used car at an auction

Auctions are fast paced and exciting, and it can be easy to get caught up in the moment. Not setting a budget could cause you to bid more than you planned on spending. Be sure to set a budget that you can stick with. You should account for any fees or premiums you will have to pay the auction house after the auction closes.

Get the history of the used car before the auction

Just as you would with any used car, get the vehicle’s history and backstory before you buy the vehicle. Get to the auction a little early and speak to the seller if you can. You can also research the cars at the auction before you get to the event. Getting the history of the car ensures you know everything that has happened to it, including any changes or upgrades, accidents, or damage remodeling.

Ensure you will get the title for the used car after the auction

The most important thing to remember when buying a used car at auction is to get the title of the vehicle. Ensure that you are going to be receiving the title once your payment has cleared for the vehicle, if you are paying with a check. For most banks it usually takes about 10 business days for checks to clear. Not having access to the title within that time frame could mean there is something wrong with the used car or its history. The vehicle could be stolen or there may be information the owner does not want you to know. A clean sale means you will have the title in your hand if you paid with cash or once the check clears.

For More Information

Would you like to know more about used car auctions? Contact High Plains Auctioneers at (806) 244-6776 to learn more about holding and attending auctions. You can also Contact Us by email to learn more about our services and view our upcoming auctions to see what we have available.