‘Finance’ Category

You Can Find Bargains At A Damaged Auto Auction

When most people pay to get damage to their cars repaired, there are some who spend their money to buy damaged cars.  While this may sound odd, there...


When most people pay to get damage to their cars repaired, there are some who spend their money to buy damaged cars.  While this may sound odd, there is logic behind it buying a damaged car and getting it repaired could be the cheapest means of getting a car.  If you have the time and the interest to restore a car bought from a damaged auto auction, it can be the cheapest car you can buy.  Unlike general car auctions where people go to look for the best cars at prices they can afford, in a damaged auto auction the buyer is looking to balance the amount of damage with the time and money he will need to spend to get himself a good and reliable set of wheels.

Do not even think of buying from a damaged auto auction if you are not at least a good amateur mechanic you may not be able to do all the repairs yourself, but unless you know what needs to be done and how it should be done, your repair costs could skyrocket and make the whole exercise a waste of time and money.  The first thing to do is to study the list of cars available at a damaged auto auction and make a short list of the ones that interest you this should be based on the type of car, the nature of the damage and the cost and effort of repair.  Keep in mind that spare parts for many models can be expensive and also hard to get hold of.  Get second opinions about the nature of the repairs required so that you can be sure that you have not bitten off more than you can chew this involves getting an expert to inspect the cars you have short listed along with you.  Once these estimates are ready check to see if buying the same car in an undamaged condition would not be cheaper and if so, drop the damaged auto auction and go in for the undamaged car.

Once you are sure that the economics of buying from a damaged auto auction makes sense, make sure that you do not let your self get involved in bidding wars and spend more than you planned this will affect the final restored price of the car and could make to whole effort a waste of time.  If you are willing to take all the time and trouble needed to restore a damaged car, you should be able to have a safe reliable car that will give you years of reliable service.

Why You Should Buy From a Statewide Auto Auction And Skip The Dealership


A lot of people still expect their only option for buying a new or used car to be the local dealership.  This is actually not the case at all and in fact the auto auctions which are available all around the world are quickly gaining in popularity as more people are beginning to see all they have to offer.  You can save a great deal of time, money and hassle by opting for an auction over a dealer.  There are a few tips that you can keep in mind and which will ensure you get your next vehicle at the best possible price.

One of the first facts important to know is that car auctions are available in a number of different formats.  There are bank auto auctions, government auto auctions and private auto auctions.  There are online auctions and others that you can go to in person the old-fashioned way.  It depends on whether you want to be there in person to examine a vehicle before agreeing to buy or if you feel confident looking at pictures and doing research to buy a car over an online auction.

One important tip, especially when shopping at an online statewide auto auction, is to find out details on payment and be aware of which payment methods are accepted at a particular auction.  Not all auctions are the same and some only accept checks while others take everything from cash to all major credit cards.  If you make an error in judgment with payment you can end up causing a big hassle for you and the auctioneers.  You may also want to spend a bit of time inquiring to an auction representative before getting involved with any auto auction.

Whether you have questions on what sort of documentation you should be receiving with your vehicle or how to get started in an auction, they will be able to give you the answers that you need.  It really pays to take the time and ask questions.  This is another benefit of opting for an online statewide auto auction, as you have a world of information at your fingertips while shopping through the online auctions.  While you are shopping through the selection if you ever want to compare the asking prices or look up information on any make or model, you have a wealth of information right at your fingertips and never have to leave the comfort of your home or office.

You can get an amazing deal when you go through a statewide auto auction.  It’s easy to see the huge benefits offered by these over any dealership in the world.  You get to search and bid on the cars you want online but will be able to travel and check out any vehicles of interest in person before actually agreeing to buy them.  These tips will help you have the most success and find the car of your dreams.

Understanding Government Auto Auctions


The federal government is possibly the biggest car buyer in the country and has a clear cut procedure for disposing of its old cars and trucks.  Over 300 government car auctions are held in various part of the country each year and all types of vehicles are put up for sale.  Participation in these auctions is free and is open to anyone who has a driver’s license and is over 18 years of age.  A government auto auction can be done in various forms ‚Äì live auctions, internet auctions, sealed bid auctions, drop by sales, fixed price and negotiated price are some of the methods used.  Payments by successful bidders are normally accepted in the form of cash, credit card payments, money orders and cashier’s checks.

Government auto auctions are conducted by the General Services Administration  and, on an average, over 30,000 cars and trucks are sold in this way every year.  While some of the older cars may have seen heavy use and may not be worthwhile buys, many of the vehicles for sale have surprisingly low mileages and have been used by a single person during their period in government service.  All vehicles sold at government auto auctions are carefully detailed before they are placed on sale and many come with extras and options that add significantly to their value.  This doesn’t however, mean that a person can blindly buy a car for sale at a government auto auction as these are all used vehicles and so there will always be some element of risk involved in buying them.  While each vehicle is thoroughly detailed before being put up for sale, they are sold without any warranty and any problem that may occur once the payment has been made will have to be rectified at the buyer’s expense.

But since these are government auto auctions with no personal profit involved, there is no chance of being deliberately cheated and so the risks of buying from here are much less than in private auctions.  However, the bidder needs to either be knowledgeable about cars, or have the services of someone who is, to help him in picking the cars he should bid on with the hope of getting a great bargain.  Many people make the mistake of being tempted to buy a car only because it is available at a price they did not think possible ‚Äì what they wind up with is a cheap car, but one that does not meet their requirements.  Another source of government auctioned cars is the U.S. Marshal Service which auctions off vehicles that have been seized by law enforcement agencies.

Tips For Buying At Online Auto Auctions


Online auto auctions are very popular today.  There are certainly some great advantages offered by the online auto auctions that aren’t with the regular car auctions.  It’s much more convenient than the old-fashioned way but there are a few things that are important for any eager car shopper to be aware of first.  Rather than having to walk around a car lot or sit for hours in an auction house they can just take a quick look online and search for exactly the automobile that they want.

It’s easy to make a killing at these online auto auctions but first it’s important to learn more about how they work.  A lot of first-time bidders make mistakes and put themselves out money, but you don’t have to be included in that category.  One of the most important things to remember when going on an online auto auction is to understand that auctions come in different formats and are not necessarily always the same.  There are some auctions in which only used cars are sold and others where cars along with other products are sold.

Before going to any online auto auctions it’s wise to get a better idea of what sort of vehicles you’re interested in and then do some research on them.  This will make it much easier to avoid scams and find a great deal.  A lot of people need a new car but if they don’t have any clue what to look for or how much they should be expecting to pay, it won’t be a surprise if they get taken advantage of.  The great thing about the online auctions is that you have all the information you need right at your fingertips.

This isn’t something that you can do when you’re shopping at auto auctions the old-fashioned way.  For the most part sales are final at auctions, so if you don’t take the time to do this only to find out afterwards that you made a bad buy, there’s no getting your money back.  The difficult thing about an online auto auction is that you have to take word that the picture of the car is accurate.  You basically have to use the pictures given to help you decide whether the car looks worth the money or not.

You basically have to take the word of the seller and trust in them that they are not going to do you wrong.  Sticking to well known sellers is your best option, such as Yahoo and eBay which are worldwide companies.  The private auctions are usually those which can be trouble so just use caution when bidding on any car.  You can get some great deals through online auto auctions as long as you are responsible and use common sense.

Shop Smart At A Bank Auto Auction


Auto auctions are very popular these days and it’s no surprise.  At a car auction you can get a car at half its actual value.  Shopping at an auto auction can help you save hundreds, even thousands of dollars if you shop carefully and know what you’re doing.  These auctions are available in different formats, one of the most popular being the bank auto auction.

A bank auto auction is an auction at which offered are recent reposed bank and credit union cars.  Let’s say there was someone who had purchased a vehicle through their bank and they were late or missing payments.  After a specified amount of time if the bank was not paid their money they are able to repossess the car.  It would then be taken and sold at one of these auctions.

You may even be able to find a car that is priced at only half what it’s actually worth.  In some cases you can get a practically brand new car for half of what it’s worth if this car was repossessed from a buyer.  Just remember that there are a lot of scams that you’ll have to watch out for.  Sticking to familiar sellers is the best idea so that you have less chances of being taken advantage of.

You always want to check any car out thoroughly before agreeing to buy it.  Remember, once you have agreed to buy the car there is no going back so you want to shop smart and never rush into any purchase.  It’s so important to be a smart and informed buyer.  Check for holes underneath the car and open the hood to take a look at the engine.

The best way to do it is to spend a bit of time figuring out what sort of vehicles you’re interested in finding.  This way you can use the Internet and other resources before actually heading out to the auction.  The best idea is to buy from a bank auto auction that is close enough to you that you could check the cars out online and do your bidding but then go check the car out in person before buying.  For later model vehicles the Manufacturer’s Warranty should be included with purchase of the vehicle.