When visiting a car auction...

1. Arrive in plenty of time
2. Ask the auctioneer advice about what they think the car may sell for
3. Ask the auctioneer where the car came from, many are straight from main dealers and may even have been for sale on the forecourt the day before!
4. Read the sellers declaration on the screen - does it have an MOT, does it have service history, is it warranted mileage?
5. Check the methods of payment that are acceptable at the auction house and make sure you are legally allowed to drive the car home – does your insurance cover you? Is the car MOT’d?
6. Be very wary of a car that has a very short MOT and unless you are very experienced do not buy one with no MOT
7. Always set your self a maximum budget and leave yourself a contingency fund – So if you can afford £5,500 stop bidding at £5,250 and give yourself some margin to pay for repairs
8. Make sure you know what the commission structure is, you have to pay this on top of the price of the car and that could put your over budget.
9. Although you cannot drive the car check everything you can visually – light lenses, tyre wear, cracked windscreens, worn upholstery
10. Consider models in less popular colours or engine sizes, they will be in far less demand with the dealers who hope to resell them at a profit and you could pick up a bargain
11. The same is true of high mileage cars, many dealers and traders will not want them fro resale, get one with good history and it’s a great way to bag a bargain – particularly if you yourself do low mileage as this will average it out lower over time!
12. Get yourself in a good position to bid, but do not join the bidding until it starts to slow down and then play it cool
13. Stand outside so you can hear the engine start up before it is brought into the ring – and listen for knocks and rattles
14. Do your homework, compare prices with dealers forecourts and quantify the saving you could be making
15. Do not get auction fever – its easy to get carried away and end up buying something completely different to what you originally intended
16. Never buy in a hurry – you will repent at leisure. Ideally visit a few auctions before you go along to buy.
17. If you do buy the car then get the keys and check it over straight away before you drive off, you may have a buyers indemnity provided by the auction house that gives you protection about a mis described car but you will only have a short time in which to claim under it so you need to be quick
18. Ideally take along someone who has been to an auction before or you could get Auction Fever!!!