Defining The Auto Auction
An auto (or vehicle) auction is a kind of auction that worries itself only with trucks — often cheap used trucks — as well as cars, motorcycles, and SUV’s. Millions of vehicles are sold every year through auto auctions. Sadly, only a certain few are open to the walk in public. Most concern themselves with dealerships looking for new product. Online services, like eBay, have started offering auto auctions.
Extreme Low Pricing: Truth or Lie?
There are without a doubt some incredibly low prices present at each auction. Vehicles have been known to be driven off the lot for 90% off the price of an original, a sale owed to the fact that many cars that have been reposessed are shoveled back out into the market through auto auctions.
Many dealers have introduced the concept of “reserve pricing” lately to combat the low prices. What “reserve pricing” means is that a dealer will only sell a vehicle to a bidder if their winning bid is at or over that reserve price, which happens to be declared before the auction ever takes place.
The other problem with car auctions is that the prices can just as easily go up as they can drop down. That being said, buying your dream car for peanuts at a vehicle auction certainly is not impossible, but don’t expect it.
Where Can I Find An Auto Auction?
There are auto auctions taking place across the country every single day. Police departments, Federal and government agencies, and auction houses sponsored in private can all house vehicle auctions. The schedule of such auctions are typically announced through website posts, in your local newspaper, offices of participating agencies, and even company brochures. If you’re interested, find one near you and try attending. There’s no harm in trying to find that car you’ve been fiending for, is there?
Proper Identification
You have to pay a registration fee in order to attend a vehicle auction. The only positive side to this is that you can pay when you’re on site on the day of the show.
No Warranty
Most cheap used trucks you’re going to pick up at an auction are not going to come with a dealer “in house” warranty like in other car sales departments. Any manufacturer warranties that may still be good will remain up to date, though.
Do These Vehicles Actually Work?
Good question. If you’re interested in a vehicle, you can’t actually test drive it like you could at a dealer’s location, but any bidders who would like to can test the engine, air conditioning, heat and numerous other accessories while the engine is running. At least you’ll know the engine turns on when you twist the key.
How Do You Pay For A Cheap Used Truck You Buy At The Auction?
Auction vehicles usually are paid for the same way you buy anything else: check, cash or credit card. Check with the house where the event is held for any special instructions, if there is any, or what forms of payment are taken.
Honesty Is The Best Policy
If you can’t afford to pay for your cheap used truck, then don’t try to win the auction as you will be bound legally to cough up that cash. If you do win, and can’t pay, you’ll be stuck with additional fees and penalties that will make life more difficult for everyone involved.
Used commercial vehicles may be available at auctions all across the country, but they can also be bought online. After finding one you enjoy, do some research into the seller and their business practices. Buy cheap trucks from a trusted website than will provide you with the right vehicle through a fair and reliable supplier.
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- Government and Commercial Auctions – Great Japanese models
- The Value of Car Auctions
- Automotive Auctions – What’s the buzz about?
- The excellent payback Of Online cars Auctions
- Great Auto Deals On Seized Car Auction
