| Although there are some very good deals to be had | | | | because it's a totally different buying experience. |
| at car auctions, there is also some things that you | | | | When you have the opportunity to buy cars at trade |
| must know and do if you are attending an auction | | | | prices, your imagination starts running wild as to how |
| for the first time because when you are unfamiliar | | | | cheap this car is, or much money you can earn from |
| how an auction operates you can make a few | | | | this even if you had no intention of selling cars for a |
| mistakes that can be very costly, but armed with | | | | profit. This happens with everyone it is basic human |
| some foreknowledge and providing you follow it - | | | | nature. |
| you should be okay. | | | | So the car that you had in mind when you start |
| Most people's experience of buying a car normally | | | | seeing the other bargains to be had at the auction |
| goes like this:- See the car they like in the local paper, | | | | can very quickly change along with your priorities. |
| go round the seller's house, view the car and then | | | | Coupled with the fact there is so much choice and |
| negotiate the price by starting at asking price and | | | | not just one car to look at, which when you go to |
| then trying to bring the seller down to the price you | | | | look at a car that was advertised in the paper you |
| want to pay. | | | | only turn up to view that particular one. |
| With this way of buying, you can take your time, | | | | At car auctions there are absolutely hundreds to |
| take a test drive, and think about how much you | | | | choose from. So if your 'ideal' car is not there, there |
| want to pay and if the deal does not suit you, you | | | | is always another car that maybe you didn't really |
| can go away and think about it. | | | | want can catch your eye and there is nothing like a |
| Buying a car from auction is a totally different | | | | cheap price of a car to focus the attention of the |
| experience. | | | | mind. |
| The scenario at the car auction is far different, and | | | | Checklist |
| this is what puts a lot of people off from buying a | | | | You will need to inspect any car you are interested in |
| car this way, but if you are armed with a checklist | | | | long before the car goes in the auction to be sold. |
| and knowledge of what to do, you can certainly | | | | When you find a car that is suitable go through this |
| swing things in your favour. | | | | checklist. |
| Attending The Auction | | | | It's very important to examine the car while the car |
| I'll assume that this is your first auction that you will | | | | is parked up, because it will be a little more difficult |
| be attending. If you are an experienced auction | | | | when the car is lining up to be sold and then |
| visitor, then it won't do any harm just to go over | | | | everybody else will be looking. Best to check round |
| points that you already know. | | | | the car when it's not too busy. Hence the purpose of |
| The first place to look for at the auction is the office | | | | getting to the auction early. |
| where the entries for the vehicles are accepted. Here | | | | Have a quick look around the car just to check for |
| there should be displayed the conditions of sale of | | | | any accident damage to the bodywork like panels |
| the cars that are entered into the auction. | | | | having any dents or bumpers if they are plastic being |
| Amongst the general auction rules there will be | | | | cracked etc. |
| information about how the cars are offered for sale. | | | | Have a look on the windscreen for any chips or |
| These are as follows: | | | | cracks as this can be an expensive item to replace. |
| 1. SOLD 'AS SEEN' | | | | Then have a look on the windscreen and the car |
| This means exactly what it says, what you see is | | | | should have a windscreen ticket displayed that should |
| what you get. Any vehicle that is offered for sale | | | | tell you all the details of the car. Please read through |
| sold 'as seen' cannot be rejected under any | | | | this information slowly and carefully noting down any |
| circumstances. Any complaint about a problem that | | | | details about the car you need to know. |
| the car may have will not be entertained at all. | | | | NOTE: If you are unhappy with any of the above, |
| This may seem a bit harsh from the buyers' point of | | | | don't buy it. Simple as that. Just find another car |
| view, but don't let this put you off buying a car that | | | | there are plenty more to choose from. Don't let your |
| is sold 'as seen'. | | | | heart rule your head. |
| 2. SOLD 'WITH TRIAL' | | | | After you have read the windscreen ticket, and if |
| This can vary from auction to auction, so it's | | | | you are still interested in the car, examine the car a |
| important that you check with the auction staff to | | | | little more closely this time particularly looking at |
| verify what their conditions are but basically sold 'with | | | | things that might need replacing and add cost to your |
| trial' means: | | | | purchase price after you have bought the car. |
| That you get one hour after the end of the sale to | | | | Bear in mind that mechanical repairs can in some |
| return the car if you find any 'MAJOR MECHANICAL | | | | cases be carried out fairly cheaply these days, but |
| FAULTS', i.e. engine, gearbox, axles, steering rack etc. | | | | bodywork repairs can be very expensive and this |
| Some auctions conditions differ from auction to | | | | should be reflected in the price of the car. |
| another so that is why it's imperative that you check | | | | Visual Checks |
| with the auction staff before bidding on any vehicle. | | | | Things like tyres. Tyres can be very costly these |
| INDEMNITY FEES | | | | days to replace, especially low-profile or sports tyres. |
| This is a fee that you will pay on top of the | | | | If the tyres look like they are going to need changing |
| purchase price of any car that you may buy. | | | | in the near future adjust your bid accordingly with |
| Probably better known as a 'buyers premium'. | | | | this in mind. |
| Fees vary a great deal from auction to auction. | | | | Does the overall condition of the car match up with |
| Check with the auction staff as to what these fees | | | | the mileage? Not just outside but also inside as well. |
| are if they are not displayed in the office area or | | | | If the windscreen ticket says that the car has |
| around the auction. | | | | covered low or average mileage for the year, have a |
| These fees should also include an 'HPI' check on the | | | | good look at the condition of the seats especially the |
| car you are buying. This will give you full legal title to | | | | drivers seat, is it worn or does it match up with the |
| the car. The 'HPI' check covers items such as:a) | | | | mileage and condition of the car. |
| Whether the car has any outstanding finance on it.b) | | | | The steering wheel. Is it all smooth or does it still look |
| If the car is on the police stolen list.c) If the car has | | | | new? |
| ever been an insurance 'total loss'.d) Whether the car | | | | All these things are a visual check that you can carry |
| has had a number plate transfer.e) Will also confirm | | | | out on the car and give you a better chance of |
| the 'VIN' (chassis) number. | | | | buying a good car and eliminate some of the risks |
| When I first started to visit car auctions I went along | | | | that are there and swing things in your favour. |
| to them for about 3 months before I bought my | | | | Bidding For Your Car |
| first car. The reason for this was because I wanted | | | | When the time arrives for the car you are interested |
| to go into car dealing as a business and I decided to | | | | in to go into the auction, stand in a place where the |
| carry some research before I actually committed | | | | auctioneer can see you clearly but not in a place |
| myself. | | | | where you can be seen by everybody else, i.e. right |
| I would not under any circumstances take any | | | | in front of the rostrum. |
| money with me to buy a car with, just enough to | | | | All the inspection, the visual and mechanical checks on |
| get there and back and for a cup of tea and a | | | | the car should have been done by now, so you |
| sandwich, and sometimes that can come to a few | | | | know exactly how much you're maximum bid is going |
| quid depending on which auction you go to. | | | | to be. |
| I did this because when I saw how cheap some of | | | | Make sure you know how much buyers premium will |
| the cars went for, Iimmediately wanted to start | | | | be added to the purchase price, also if the car needs |
| buying anything and everything, but this would have | | | | anything replaced and keep a note of this in front of |
| been a mistake. | | | | you when bidding. |
| So I sat at every auction I attended with my | | | | Believe me (i'm a car dealer), you need to have all |
| notepad and pen taking down the details of nearly | | | | the finances work out before you put in your first |
| every car that came through the auction and I was | | | | bid. If you don't you could end up paying too much |
| surprised at the prices the cars were making. | | | | for the car. |
| From there I would go home and compare the prices | | | | DO NOT under any circumstances pay more than the |
| in car magazines and the local paper and I could see | | | | figure you have in mind. If you end up not buying the |
| immediately how much profit people were making by | | | | car, another one will always be available. Even if you |
| selling cars. | | | | don't buy a car at the same auction, wait until the |
| The Day I Bought My First Car At Auction | | | | car you want turns up, and it will. |
| I decided to take the plunge and armed with all my | | | | Paying For Your Car |
| knowledge and statistics of the previous 3 months | | | | If you are the highest bidder you will have to pay a |
| research, I purchased one evening at a car auction in | | | | deposit immediately after the bidding stops. |
| Essex, a Rover SDI 2600, X registration, for the sum | | | | If you after bidding end up having the highest bid on |
| of £500 which at the time was quite a nice car | | | | the car, you will either end up reaching the reserve |
| and not too difficult to get rid of. | | | | price that the seller wants and the auctioneer will |
| You know there is something else coming up don't | | | | normally bring the hammer down to indicate that you |
| you? You can just feel it in the air. So let me tell you | | | | are the successful buyer. |
| the result of my purchase. | | | | If the reserve price is not reached, then you will still |
| I picked the car up a week later because I paid by | | | | be required to give your details and a deposit to the |
| cheque and had to wait a week for the cheque to | | | | auction staff. This will be called a 'provisional' bid. |
| clear. I got a few miles down the road and I noticed | | | | What will then happen is the auction will contact the |
| the engine started to heat up very quickly which is | | | | owner of the car and will try to negotiate a price on |
| not a good sign. | | | | the car. If the seller will not lower their reserve price |
| To cut a long story short I have the car transported | | | | and an agreement cannot be reached, then your |
| home and have to sell the car to a dealer out of the | | | | deposit will be returned to you. |
| local paper who pays me £200 for the car. | | | | In Conclusion |
| First deal - Loss of £300!! | | | | I am sure that you will find the car auctions that you |
| As i mentioned earlier you can take your time when | | | | visit a totally new experience of buying a car, and |
| buying a car the normal way but these methods go | | | | one that you will enjoy. |
| right out the window when buying a car by auction | | | | May I wish you all the best in your endeavours. |