Car Auction Risks
You may have heard stories of people who have gotten a great deal on a car from buying it from an auction, saving hundreds and even thousands of dollars off of it’s retail value. You may have also heard about those who weren’t so lucky and got totally ripped off at their local auction. While car auctions can be the best place to get a deal on a vehicle when you low on money, they also have associated risks when buying a vehicle from them. In fact, it is more risky buying a automobile from an auction than from your local new or used dealership.
The most risk you will face when buying a vehicle from a car auction is buying one that needs a lot of repairs. So it is always a good idea to bring a trusted mechanic with you, unless you are mechanically inclined. Since most of these auctions sell their autos in as-in condition you stand to loose a significant amount of money if you buy a clunker. So, have your mechanic check the engine and transmission for any problems because these are the more costly repairs that you can incur. Also make sure that the VIN numbers match on the vehicles parts. Non matching numbers can be an indication of a stolen or salvage title automobile, neither or which you would want. Another risk you face when attending an auction is over bidding. This can happen when you don’t know the value of what you’re bidding on and get caught up in a bidding war. Therefore, it is always a good idea to bring a Kelly’s Blue book with you to any auto auction you attend and walk away if you see yourself getting into a bidding war.
In conclusion, you can find a great deal at your local automobile auction but there are alway associated risks. The two major risks are buying a lemon that is in dire need of repairs that can end up costing you more than what it is worth and over paying in a bidding war. So, make sure you always bring a mechanic with you and a Kelly Blue Book!
Don’t know where to find your local car auction? Then visit You may have heard stories of people who have gotten a great deal on a car from buying it from an auction, saving hundreds and even thousands of dollars off of it’s retail value. You may have also heard about those who weren’t so lucky and got totally ripped off at their local auction. While car auctions can be the best place to get a deal on a vehicle when you low on money, they also have associated risks when buying a vehicle from them. In fact, it is more risky buying a automobile from an auction than from your local new or used dealership.
The most risk you will face when buying a vehicle from a car auction is buying one that needs a lot of repairs. So it is always a good idea to bring a trusted mechanic with you, unless you are mechanically inclined. Since most of these auctions sell their autos in as-in condition you stand to loose a significant amount of money if you buy a clunker. So, have your mechanic check the engine and transmission for any problems because these are the more costly repairs that you can incur. Also make sure that the VIN numbers match on the vehicles parts. Non matching numbers can be an indication of a stolen or salvage title automobile, neither or which you would want. Another risk you face when attending an auction is over bidding. This can happen when you don’t know the value of what you’re bidding on and get caught up in a bidding war. Therefore, it is always a good idea to bring a Kelly’s Blue book with you to any auto auction you attend and walk away if you see yourself getting into a bidding war.