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