At A Car Auction It's Always Buyer Beware - What You Must Be Looking Out For
Any time you read in the papers about how there has been a hurricane in some far-off place, you probably gloss over it and proceed to other things of interest. When a hurricane causes flooding in a place, what you feel happens to all the countless cars people have parked along the streets in that town? When Hurricane Katrina swung around five years ago, if left about a half million cars flooded. Where did those cars go after that? Those cars were purchased by sleazy auctioneers to be superficially reconditioned and sold some place near you.
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At some auctions of used cars, their use of some jargon can aid them in all kind of sales tactics they use. For instance, if they say that a car is sold 'as is', that indicates they don't provide a guarantee for anything. Quite often, if you want a guarantee, you pay additional charge. You really need to know what you're doing buying at a car auction, especially for used cars. How about the title to the car? Will you be getting a clear title? At the auto auction for used cars, although they mean Nice, they actually don't make enough on a sale to rationalize a complete title check. In most cases, they'll skip the title check altogether. You could be being sold a stolen car for all you know. One of the finest car title checks available on the internet is AutoCheck. Make sure to run a car that you wish buying on this database prior to you part with a dollar.
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When it comes to actually paying for a car you buy at an auction, you never paid exactly what you bid. You always need to pay a little extra. They call it the buyer's premium. Typically, it's a percentage between 2% and 10% of the amount you bid for. If you have an option, you should probably get a used car from a rent a car company than from an auction. Have you ever had a rental car break down on you? Most people never experience such a scenario because those are cars that are kept under constant maintenance to ensure smooth functioning for the company. A car you purchase at an auction conversely could have been an accident, could have been flooded or been thieved.
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Do yourself a favor: before buying at a car auction, be sure to check everything up on auto check by the VIN numbers of all the cars you are interested in. Look closely at the contract before you sign. Try to see what kind of title indication they provide you. Get to the auction block in advance to look closely at the VIN number stickers on all the vehicles. Just make sure that all of the numbers read identical on each car. Be sure to bring your laptop with you so that you can look up on AutoCheck right on the spot.
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