Vehicle auction venues are a great place to find a vehicle deals. There are several vehicle auction venues regular ones (standard auctions where vehicles are sold), government (seized or surplus government vehicles are sold), insurance (insurance companies sell damaged and rebuilt cars). Most of the auctions are public but there is a great number of private auctions held as well.
Vehicle auction websites are also available. They are just like the actual ones with the only difference that they are in fact held online. The most popular auction website that also holds vehicle auction stuff is eBay.
If you have decided to try your luck at a vehicle auction, there are some things you should know in advance. The general rules are the same for all auction types.
One thing that is of great importance is the origin of the vehicles. Each vehicle should have a clear history available at the auctioneers. If you have decided to bid on a specific vehicle, it is best if you first check it and then decide if you still are eager to bid. Generally speaking, all vehicles sold at auctions should be fine in terms of origin but you never know.
The second thing to watch out for is the condition of the vehicle. It is recommended that you take a mechanic along so that he can check the vehicle you want to purchase. There are plenty of vehicles that look just fine but have serious problems.
The next tip highly applicable to vehicle auction buys is the price. First, you should make a research in order to find out what are the latest price trends of the vehicle you are looking for. Then be careful not to be sucked in the bed-swirl. The vehicle auction bids should be competitive so a price can reach sky-heights just by many participants bidding madly. You may end up paying a price just like the normal value or even higher. Also at some auctions, you can actually negotiate the price so check and do not underestimate this option.
Be careful when going to government auctions. While the vehicles sold there may be up to 50% cheaper than the market value of the same vehicles, bear in mind that most of them are no driven nor maintained for a long time or are damaged in a way or another. Insurance vehicle auctions may also look like a bargain heaven but the situation there may turn into a nightmare easily. This type of vehicle auction venues offer cars that have been damaged by their owners to an extent that the insurance company has had to replace them with new. So it is likely that you will buy a rebuilt vehicle or one with serious problems. Rebuilt vehicles are not a good idea as their manufacturing warranty is voided, and most of the insurance companies don’t want to deal with them at all. That is why insurance vehicle auction places are recommended for professionals who either know what they are doing or are looking for a cheap vehicle for spare parts.
Finally, it is best if you visit vehicle auction venues a few times to get accustomed to the situation before you actually run into the auction game.