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When Is The Best Time To Buy A Used Car At Auction?

Friday, May 25th, 2018
Hand holding car keys

You can save money by purchasing a used car at an auction, but there are a few things you should know about the process first. For instance, there are better times than others throughout the year to get a good deal. If you understand how the vehicle market changes, you can have a better chance of getting a bargain. Here are a few tips you can use when buying a car from at an auction house.

Check auctions before the holiday season

Just before the holidays, people tend to look for ways to make some extra cash. Some people try to get rid of a vehicle they don’t want or use anymore, often during the holiday season. You may find a broader variety of cars to choose from at auction during this time. Most auction houses have a website or access to a catalog that you can check to see what will be for sale. If you are already looking online for used cars during the holidays, researching these websites may help you find what you are looking for.

Prices may rise during the tax refund season

There are usually more buyers than sellers in the used car market during tax season. Because of tax refunds, more buyers are looking for a good deal and used car prices tend to rise. If you are attending an auction during the tax refund season, you should plan on spending a bit more money. When there are more people in the market to buy, there is higher chance you can become involved in a bidding war. Planning and sticking to a budget is important before getting involved in the auction during tax refund season.

What to know before you go to a car auction

Before you go to an auction, you should know how much you are willing to spend. Be sure to have an idea of a vehicle’s value before it is auctioned. Websites like Edmunds or the Kelley Blue Book can help you get an idea of the value of a used vehicle.

You will also want to research local prices on similar makes and models to get an even better understanding of values. The used car you buy at an auction is usually sold “as is,” meaning the car cannot be returned after the sale. Be sure to do all research needed, especially about price, time of year, and condition, before you go.

What to look for when buying used cars at auction

No matter what time of year you are looking to buy a used car, you should know what to look for. A cheap car has the chance of becoming an expensive car if it needs large repairs. Be sure to inspect the vehicle for signs of repaired damage and if it has been repainted. Puddles of liquid gathering undeath the car could indicate leaks, which may lead to expensive repairs as well.

Another important step is to match the Vehicle Identification Number (VIN). The VIN from the windshield should match all others located on the door and inside the hood. If there is a discrepancy in the numbers, it might be a sign the vehicle has been rebuilt from an accident. You should also check the dipsticks under the hood to make sure the car has been maintained. A sign of good maintenance is when you see that all fluids are clear and at the appropriate levels.

If you would like to learn more about Bidding or Selling at auction, contact the experts at High Plains Auctioneers. We can answer any questions you have about the auction process. Call us today at (806) 244-6776 or Contact Us by email for more information. Don’t forget to check out our Upcoming Auctions to see the items we will have available!