5 Tips for Buying a Car at an Auction for the Lowest Price Possible

January 27, 2012

If you are planning on buying a car at auction, here are a few simple rules you should know.

  1. Government online car auctions are the best way to get a really good deal. But the type of cars and the cost range will vary from auction to auction. Another problem is that there will be many people bidding for the same car, and you could end up paying much more than you bargained for. Do the research properly before you buy a car or bid on it.
  2. Try auction car buying from rental agencies. Most rental cars are well maintained and they are priced really well, too. These cars are usually no more than one or two years old, and they will still have their warranties intact. These cars make for really great deals.
  3. Almost all auctions will list car details online or in a printed booklet with the VIN number mentioned. Research before you choose a car. Then go early to the auction site to check out the car. Ensure that the VIN number you have been shown and the one inside the car are the same.
  4. Check out the Indemnity Fees that will be applicable on you. These fees are above and beyond the bid price, and it will vary from auction to auction.
  5. Get an HPC check done on the car. Indemnity fees should have the HPC payment included in them. This check will tell you about any outstanding loans on the car, whether it is stolen and even if the car has had a number plate change.  

Finally, one simple rule of thumb: if you don't like the car or you feel that something is wrong, don't buy it no matter how good the price.

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