Be prepared
The first thing that you should do is to be prepared. You should know what kind of car that you want to buy. You should find out what similar models of the car are going for on the private market. Also, check the cars value. The last thing that you want to do is overpay for it. Kelly Blue book is one of the best resources for using when it comes to researching a used car. You can enter the mileage, location, as well as other options and Kelly Blue book, will give you a price that you can expect to pay at a dealership.
Inspect the car vehicle
The next thing that you should do is to inspect the vehicle. Like most auctions, you can check the vehicle before you make a bid on it. Look at the car carefully. Examine the mileage and the paint job. If you’re like me and don’t know that much about cars, bring a mechanic with you. I’m lucky to have a dependable mechanic that has been able to fix issues that I’ve had with my vehicles over the years. Having a mechanic come to the auction with you is a great move. Â They are trained to see issues that the average Joe will overlook, especially problems with engines. You mechanic will be able to see if something has leaked in the engine or if one of the hoses has too much wear and tear. I know for a fact, I wouldn’t know what to look for. Having a mechanic with you could be the difference in purchasing a good car or a lemon.
Check the VIN
The next thing on the list is to check the VIN. A VIN is a car’s vehicle identification. It serves as the cars fingerprint. It is the vehicles unique identifier. No two cars have the same VIN. You will want to check the places where the VIN appears on the car such as the door and the windshield. If the numbers are different, the car may have been in a wreck and rebuilt. You should steer clear away from these types of vehicles. They could have numerous issues. You don’t want to spend thousands of dollars trying to get it fixed. If that’s the case you might as well go to the dealership and get something new.
Bidding
Bidding is one of the best parts of car auctions. It can also be very nerve-wracking if you let it be. It’s good to go to a few auctions before you participate so that you can match the bidders. You can see how they act and what their actions may be.
You can get carried away during the bidding process if you’re not careful. You should have a set amount that you want to spend. Don’t go over it. Know what you are willing to spend in advance. If you are outbid, be prepared to walk away. There will be other auctions and other cars.
Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.