On January 11, 2013
Many of us have heard about the great bargains some people get at?government car auctions.?Should you take the risk and partake in one of these auctions? Yes, it is true that many people find fantastic bargains, such as luxury cars for under $15,000, but this is the exception rather than the rule.
For every new Mercedes the police have seized from a criminal, there are probably 40 or 50 pieces of junk that were abandoned on the side of the highway. Don?t be surprised to find out that most of the cars at the auctions are actually abandoned vehicles that have been towed off the streets.
Finding bargains at car auctions
Even though you won?t see too many Ferraris and Austin Martins at the auctions, you can still find some bargains there. There are some well-maintained cars in good condition for sale, although the prices may not be as low as you think, because you will be competing against car dealers when you go to an auction.
An auction where repossessed vehicles are sold is another good place to buy cars. Individuals can sometimes pick up late-model vehicles at these auctions for a good price. But again, be warned ??you will most likely face stiff competition from professional car dealers that frequent these auctions.
Protecting yourself at the auction
There are also some steps you can take to reduce the risks of buying a dud vehicle on auction. Inspect any vehicle you plan to buy closely; pay close attention to the wheels, the engine, the internal components and the body work. Ask the people running the auction if you can start the vehicle and if you can take a look under the hood.
Check the odometer to see what the vehicles mileage is, but also look at the overall condition of the car. One good indicator of the amount of use a vehicle has had is the driver?s seat. If it?s badly worn, that?s a sign the vehicle has seen a lot of heavy use. Another great tip is to bring somebody that knows a lot about cars with you and have them look at the vehicle you plan to buy.
Car restoration
If you like working on cars, auto auctions can be a great place to find a bargain. Some people make a good living fixing up older cars they pick up there and reselling them. If you?re looking for a reliable car for yourself and your family, you might be better advised to go to a car dealer instead.
Insurance issues
One reason why you need to be careful when buying vehicles from auctions is the lack of?comprehensive car insurance. You will want to purchase a car that you will be able to insure, not one that will increase your rates substantially.
You always take a risk when you buy a car at auction, but with these tips in hand you will be able to make a well-informed purchase.
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Source: http://www.theginlady.com/index.php/risk-car-auctions/
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