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Should You Buy Your Next Car At Auction Or On Craigslist?

Monday, May 20th, 2019
benefits of car auctions

When considering your next car purchase, you might be thinking about talking to a dealership or looking through newspaper ads to buy from an individual. You have other options, though, that include looking on Craigslist and attending an auction. These are the pros and cons of looking on Craigslist as well as attending an auction.

Buying a car on craigslist

Things have gotten a lot easier with the internet and its marketing platforms. It has opened up the ability to find items using sites such as Craigslist. Buying a car through this site can be an easy and affordable way to get your next vehicle. But, there are many risks.

Curbstoning is an old trick, but the internet has made it easier and more popular in the used car world. This selling method is where a used car dealer pretends to be a private seller to make a profit on vehicles they have not sold on their lot. These cars are usually damaged by floods or have been through accidents. There are a lot of curbstoners advertising in the classifieds on sites like Craigslist.

Curbstoning is not illegal and there are other numerous scams used through sites like Craigslist. Other scams include sellers asking you to transfer all or some of the payment through an escrow service. You can lose all your money without ever seeing a car. There are also those who will ask for extra fees to ship a vehicle from across state or country lines. When you do, they disappear without ever completing the sale with you.

You can run into other problems such as receiving a car with titles and VINs that do not match. There are much safer ways to purchase your next car, and that includes attending an auction.

The benefits of buying a car at auction

If you are looking to buy a car and aren’t sure what you would like, an auction is a perfect place to go. There are so many choices and you can view them online before you go. Auctions offer used trucks, vans, and cars as well as ranch equipment and commercial vehicles.

Not all auction cars are old

Many assume auctions only sell older vehicles. This assumption is not always valid. There are often newer vehicles that come up for bid and some of them are still under warranty. If you are worried about mechanical issues with purchasing a car, this might be an excellent solution for you. You should bring someone who is familiar with cars to ensure you get the best deal.

You can find repossessed vehicles

There are times when a person cannot make their car loan payments and their vehicle gets repossessed. When a person defaults on their payments, their bank or financial institution may go through an auction house to sell the vehicle. These cars are typically auctioned at excellent prices.

Cars often sell for below market prices

A lot of people are attracted to auctions for purchasing vehicles because they are sold at below-market prices. Do some research on models and values before heading to the sale and you could save big on your next car.

Company or government vehicles are sometimes available

Companies and the government sell their fleet cars after a certain number of years. They often turn them over to an auction house to handle the sale. You have a good chance of getting a newer car with low mileage that has been well maintained if you attend an auction.

The risks of buying at auction

While there a lot of great reasons to buy your next vehicle at an auction, there are some cons you should also know.

When buying a car at auction, you buy it in “as is” condition. This condition means if you do buy a vehicle that turns out to have problems, you are stuck with the purchase. You can avoid this by checking the car over before the auction and even bringing a mechanic along if possible.

When you inspect the vehicle, you should verify that the VIN matches any papers that come with the car. If the VIN is different, there is a good chance the car was in an accident, or it may not be legal to sell.

There are a few cons for purchasing a vehicle at an auction, but the benefits far outweigh the negatives.

How do I buy a new car at auction?

If you are interested in purchasing a new car at auction, call High Plains Auctioneers today. You can reach us at (806) 244-6776 or Send Us an Email for more information. We offer a variety of auctions and we offer online catalogs to help you prepare. Check out our Upcoming Auctions to see what we will have available!