1. Be Careful: Some Cars Have Hidden Problems
Many cars at auctions are traded in, leased, or repossessed. Some may have serious issues. Always check carefully.
2. You Must Pay with Cash or a Loan
If you win a bid, you need cash or an approved loan. Also, be ready to pay taxes and fees.
3. Shiny Cars May Not Be Good Cars
Auction cars often look great. But a polished car does not mean it is in good shape. Check the history.
4. Sellers May Hide Problems
Some sellers use tricks to cover up engine issues. If you’re unsure, bring a knowledgeable friend with you.
5. Bank-Owned Repo Cars at Auctions Are Often the Best Deals
Banks sell repossessed cars at auctions. These cars are usually in decent condition. But always inspect the interior and maintenance records.
6. Some Used Car Dealers Sell Bad Cars
Some dealers send their worst cars to auctions. Be extra careful when bidding on dealer-owned cars.
7. Auctions Move Fast
Car auctions happen quickly. Don’t let pressure force you into a bad decision. Take your time.
8. Set a Budget and Stick to It
Decide how much you are willing to spend before bidding. Never go over your limit.
9. Cars Are Sold in a Set Order
Arrive early to check the schedule. This helps you know when your favorite car will be available.
10. Budget for Shipping If Needed
If you buy a car far from home, plan for shipping costs. Driving an unknown car long distances can be risky.
In summary; buying a car at an auction is an important decision. Make sure you know what you’re buying before you bid. At RepoFinder.com we help you navigate to not only bank and credit union repossessions sales, but also public auctions. You can start searching for repo cars at auctions now with RepoFinder.com.