Have you ever considered buying a used car at auction? Car auctions offer excellent value for money, with a wide
variety of high quality used cars available at prices far below those on offer at the local dealership.
Car auctions are very fast-paced environments. Major auction houses can sell up to 20,000 vehicles a week with each lot taking just a matter of seconds to go through. Car auctions offer a wide range of vehicles, but they also have some disadvantages.
Without knowing exactly what you’re looking for, it’s easy to go over your budget or buy a car that isn’t in great
condition. Knowing what to look out for as well as what to and not to do, can be the difference between buying a very
good car or a complete lemon.
If you’re considering buying a car at auction, Car auction buying service have compiled 5 top tips to help you buy
successfully at auction.
1. Use a professional car auction buying service
A car auction buying service will have extensive experience buying vehicles at auction for the purpose of either
selling them for a profit or buying on behalf of customers helping them save thousands off forecourt prices.
A professional buyer will have the experience of buying from auction already and will help you avoid any of the pitfalls and mistakes you could potentially make. Paying a professional buyer to guide you through the auction process will pay for itself by ensuring you buy the right car the first time round.
2. Always do your research
Doing as much research and checks as possible prior to bidding on a car at auction is the best way to prevent you from buying a lemon.
There is a lot of information available to buyers which can provide a very good picture of a vehicle’s current condition and history.
It’s crucial that you check things like MOT history, service history and the general condition of the car to make a decision on whether it is the right one to go for or not. Many used cars have serious issues that only affect one particular make or model of a vehicle. Check in advance to make sure you’re bidding on a high quality car, not a vehicle that could lead to headaches and surprise expenses. A professional car auction buying service can do all of this research for you and help you eliminate any risk of buying the wrong car.
3. Set your limit & stick to it!
Before bidding on a car, you should decide on what your max bid limit will be and stick to this. A car auction buying service will be able to advise on what they feel the car is likely to sell for so you can set your maximum bid according to this.
Over paying for a car will eat into your profits if you are looking to resell it or if the car is for yourself, will leave less money leftover for any potential unexpected expenditure.
4. Check the financial details
Most major auction houses charge a buyers fee which is to be paid on top of the sale price of the vehicle. Using a car auction buying service will significantly reduce that fee due to the volume of vehicles they buy each year. The discount on the buyers fee is then passed on to you.
Fees will vary between the different auction houses and also between categories of buyers. The more a trader buys, the more discount they receive on the fees. Be sure to check the relevant fees with the auction house you are buying from so you can factor these in when deciding on your maximum bid.
If you are buying a commercial vehicle then this may also be subject to VAT. Find out about our car auction fees in more detail here.
5. Don’t buy in haste
If you fail to secure the winning bid on the first vehicle you try for, then don’t chase something else which going to be second best. The major car auctions can have up to 20,000 vehicles per week so there is always plenty of choice.
A car auction buying service will have links to many auction houses and trade sources too so there’s no need to buy in
haste as buying a vehicle on the spur of the moment almost always ends up with buyers remorse!
Car Auction Tips from Car Auction Buying Service
So there’s our five top tips when buying a vehicle from auction from the UK’s foremost car auction buying service. We have help many satisfied customers to save substantial amounts off forecourt prices.
If you have any further questions or would like more information on our service then please feel free to get in touch or visit our website. We are always happy to help.
