What to look out for at a car auction
A car on auction is a great, affordable way of purchasing a car. However, many people are quite sceptical about it because the condition of the car can be unpredictable and you can’t test drive the car. But that does not mean it is impossible for you to find a great vehicle at a vehicle auction which will last for years.
Below are the best tricks and tips on what you should look out for and keep in mind when buying cars on auction in South Africa, which can be found both online and at an auction house.
Try to visit a few auction houses
Prior to the auction, it would be best for you to be a part of the audience rather than bidding on your first go. Look around and try and get a feel of the environment, this will help give you an idea of what bidding is all about.
If you aren’t someone who knows much about vehicle, you should have a friend or partner come along. That way they can inform you when you have a question regarding the specifics of a car. This will actually help prepare you for when you plan on bidding.
Know the car history
You won’t be able to find out much about a vehicle that’s on auction but you should at least know a few things about the vehicle. It’s difficult to inspect a car that’s on auction, and they are second-hand cars, therefore, you might not know what condition the car is in.
You should do your research about the car. Find out information like how much petrol does the potential vehicle consume and whether or not the vehicle has accessible parts.
Once you have found this information out then you can decide whether you are still interested. If you have a low budget you might want to purchase a vehicle that is low on fuel and has accessible parts and repairs. A car that has accessible repairs will be easier and cheaper to fix should it breakdown.
You should also check the vehicle identification number (VIN), the VIN is like a vehicle’s fingerprint, so each car has its own VIN. With the VIN you could find information regarding recalls, registration, warranty calls, and insurance.
Know that the vehicles come as is
It’s a good thing to keep in mind that the vehicle you’re getting will come “as is”. This means that you will have to deal with every repair that comes up. You might get a repossessed vehicle that had an owner who took good care of it.
Alternatively, you could get a repossessed car that was in a bad condition so always keep that in mind. This is why it is important to be vigilant and look at resourceful information. Reading the right information can be helpful and could offer you some insight.
Be calm during the bidding
Going to your first auction can be a thrill. But keep your eye on the ball because it’s easy to get carried away. There are plenty of vehicles available on an online auction, if it’s going over your budget then you should stop. Remember that you can’t pay more than the value of the car if you have taken out financing, bare in mind that your budget is restricted.
A great tip would be to start off quite small, work your way up and bid with odd numbers. That way you don’t bet on everything at the start. If the bid is getting too high, note that there are other vehicles available that you can bid on.
Go to reputable auction houses
This tip goes without saying, you should always use trusted auction online site or houses. This just makes sure that you don’t get involved in anything illegal. If you’re new to auctions, take time to read about auctions online. This will help you to get an idea of what is going on and what you should look out for.
Auctions are a great way for you to purchase a car, especially if you have taken the time to research how auctions go.
Final thoughts
Purchasing a vehicle on auction has both advantages and disadvantages. But if you do thorough research before entering then you’re good to go. Make sure you have a bit of knowledge about your desired car and take someone with you. It’s always great to have a second pair of eyes so use that to your advantage. You need to bring in all your necessary information when bidding. More importantly, make sure you have already been pre-selected for financing. That way you have an idea of how much you can afford and you don’t experience unnecessary problems.