Auto Auctions: How to Make it a Fun and Rewarding Experience
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Attending auto auctions offers great deals on quality vehicles, but it can also be fun. You just need to arm yourself with knowledge before you place your first bid. Some people enjoy it so much they’ve gotten into the car-flipping business! This article discusses some guidelines on how you can walk out with a good deal. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Auto Auctions.
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Auto Auctions: How to Make it a Fun and Rewarding Experience
- 1. Auto Auctions How to Make it a Fun and Rewarding Experience
- 2. Auto Auctions •Attending auto auctions offers great deals on quality vehicles •You need to arm yourself with knowledge before you place a bid •Some enjoy it so much, they got into car-flipping business
- 3. Auto Auctions How to familiarize with what takes place at auto auctions: •Find an auction that’s open to public – many auctions are conducted just for dealers and require special licensing •Find auctions that sell newer cars – inventory comes from: rental car company, leasing company, bank or finance company repossessions, government vehicles, law enforcement seized vehicles and more
- 4. Auto Auctions How to familiarize with what takes place at auto auctions: •Before auction, review inventory list and narrow down choices according to needs and budget •Inspect your short list. Reputable auto auctions have inspection times established for bidders. You’ll be able to fully inspect vehicle and start it
- 5. Auto Auctions How to familiarize with what takes place at auto auctions: •Develop an inspection checklist to spend time efficiently during inspection times. Some things to include: check for fluid leaks, worn tires, etc. If not experienced with car mechanics, bring someone who knows •Check online resources: get book value, visit auto forums, get history on vehicle through CarFax report
- 6. Auto Auctions How to familiarize with what takes place at auto auctions: •With information collected, begin to put numbers together to establish base price for each vehicle. Know what you want to pay and highest price you will go for •Understand purchase requirements – a cash deposit is required and know all ramifications of your bid
- 7. Auto Auctions How to familiarize with what takes place at auto auctions: •In many auto auctions, auctioneer starts with a higher price, if nobody bites, auctioneer will ask for a starting bid. Know how things work •Be prepared to walk
- 8. Auto Auctions About the Author Deb Weidenhamer is President of Auctions Systems Auctioneers & Appraisers, Inc., based in Phoenix, Arizona. They specialize in auctions and professional appraisals. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Auto Auctions .