BY JELANI DANIEL
Public auctions are quickly becoming a reputable, effective and cost-friendly way to purchase a vehicle. Since dealerships often rely on auctions to purchase cars for resale, allowing the public to enter the trading sphere gives them a large financial advantage since they cut the middle man. After an auction, you have to insure and register your vehicle, but the process of buying is up to the public buyer, putting the power back in their hands.
Registration: Registration can be done before the auction quite quickly. You can register online and after registration you will get a registration number. From there, you can start auctioning either online or in public auctions, using a card that has your number on it.
Before The Auction: Prior to the auction, you have a number of options so you make the best choice in regards to your purchase including contacting the auctioneer to go over fine details, looking at the vehicle history report and arriving early to check over the car to see the specs and potential issues.
Benefits of Using an Auction to Buy: To be sure you are at the receiving end of a good deal, having background knowledge of vehicle models, years and basic maintenance could be very helpful. Prior to the actual auction you will be able to view and give a light inspection to vehicles that will be auctioned. This gives you a chance to see which model is worthy of your investment.
Finally, you can bid online or look at online material that outlines the vehicle you are interested in (public auction catalogues). The largest benefit of an auction is that you are not tied down, there are limitless possibilities and new models that arrive regularly. You have the freedom to purchase, haggle free.
Downsides of Using an Auction to Buy: As with any auction, the vehicle you are hoping to purchase may be bought by a higher bidder who has a stronger financial reach. Although price and demand may be a pitfall, keeping a notepad with a number of different vehicles you are interested in purchasing would be the best way to get a car that you like. Another downside is the potential of bigger issues with the car since you cannot test drive. Using a vehicle history report and inspecting the vehicle may be helpful to an extent, but having a reputable mechanic on the side as well as extra money to invest are suggested. If repairs are needed and you pay little for the car, you can use the extra money to do the repairs and balance out your budget to your original costs expected.
Overall, auctioning has had a number of positive results for buyers who seeking purchase autonomy. It’s quick, effective, and financially beneficial.