When visiting a car auction...
Arrive in plenty of time
Ask the auctioneer advice about what they think the
car may sell for
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!
Read the sellers declaration on the screen - does it
have an MOT, does it have service history, is it warranted mileage?
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 MOTd?
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
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
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.
Although you cannot drive the car check everything
you can visually light lenses, tyre wear, cracked windscreens,
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
The same is true of high mileage cars, many dealers
and traders will not want them fro resale, get one with good history
and its a great way to bag a bargain particularly if you yourself
do low mileage as this will average it out lower over time!
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
Stand outside so you can hear the engine start up
before it is brought into the ring and listen for knocks and
Do your homework, compare prices with dealers
forecourts and quantify the saving you could be making
Do not get auction fever its easy to get carried
away and end up buying something completely different to what you
Never buy in a hurry you will repent at leisure.
Ideally visit a few auctions before you go along to buy.
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
Ideally take along someone who has been to an auction
before or you could get Auction Fever!!!