What Types of Car Can Be Found At Auction?
There are some great used car
bargains to be found at auction, providing you follow some
straightforward guidelines. Read on for some practical advice.
Most cars at auction come from main dealers, fleet companies,
or are finance company reposessions. Private cars account for only a
small proportion of the total car auction sales.
Ex-fleet models tend to be the safest bet when buying at auction. While
they may have above average mileage, they normally come with a full service
history and have been maintained according to the service schedule. You could pick
up a reliable 3-yr-old car at auction and make massive savings on forecourt prices.
Car Finance Reposessions:
The potential downside of buying reposession vehicles at auction is the
possibility of the cars having been trashed by owners who never had any
intention of making repayments. On the other hand, sound buys can come out of
bona fide reposessions which have resulted from things like unemployment.
Be cautious about auction vehicles coming direct from a dealer. You might ask
yourself why the dealer hasn’t sold it themselves. Generally these cars require
of repairs that wipe out potential profit margins and so they get
shunted off to auction.
Privately Owned Cars:
Proceed with caution if a private car catches your eye. Many traders won’t even
consider them, and perhaps you should follow their lead for some very good
reasons. Many privately owned cars go to auction when the owners have
been unable to sell themselves, or when they find themselves in
financial difficulties. Aside from this, many a time private sellers auction
off their vehicles when they are unwilling to pay high repair bills to bring
their car back up to scratch.