In today’s world, everyone needs dependable transportation to get around. As small towns have grown into larger cities, places to shop or work have spread further out. When it comes to buying a new car, there are many options available to you, including finding open to the public car auctions where you can bid on vehicles from dealerships, insurance companies, finance companies, and local governments.
Since many public car auctions are held online, you can even bid from your couch. All you need is an account on the auction website and money to spend.
What Are Open Car Auctions?
Open car auctions are vehicle auctions that allow the public to bid on cars. While most traditional car auctions are closed, meaning only people with dealer licenses can bid in them, an open auction gives the public the same access as a dealer. There is no need for a dealer license, and you can go through the cars on the auction’s website to find the one you want.
Benefits Of Buying At A Public Car Auction
There are a lot of benefits to buying a car at a public car auction, including the large selection of vehicles available to you. From trucks and SUVs to even motorcycles, there is a car that suits your needs. The best part is that you won’t pay a high price for the vehicle, since they are auction cars.
Insurance companies bring wrecked cars to auction that have been totaled out. This means the car costs more to fix than it’s worth. This doesn’t mean that it cannot be fixed by someone who can do the job inexpensively.
Finance companies also take repossessions to the auction. These cars may be in great shape, but the owner could no longer afford the payments. A car like this could be a great deal for you.
Pitfalls Of Buying At A Public Car Auction
The downside to buying a car at a public auction is that you will need to page through many cars that aren’t worth buying. The auction is where dealers bring high-mileage vehicles that are worn out. Dealers will also get rid of cars that have been on their lot too long or don’t fit their inventory requirements.
However, in between the cars that no one wants, plenty of vehicles that are available could be a great deal for you.
Tips For Finding The Best Deals
Before you think about bidding on an auction car, take a few minutes and read over these tips:
Research
Even if you don’t know which make or model you want in advance, take some time to research the vehicles before you sit down to bid. The online auctions offer information on all of the cars coming up in scheduled auctions, so you have time to research any vehicle you think you might want to bid on.
The best research material is the vehicles you see on the road every day. If you see many of the same car or truck, there’s a good chance that they are dependable vehicles.
Have a Budget
Bidding can get exciting. Because of that, you need to have a budget in place before you even start to bid to avoid overpaying for a vehicle. It helps to watch other auctions to see how people bid on cars too. You can use online sources like Kelley Blue Book or Edmunds to get an idea of what a car is worth, but remember that those values are for good-condition cars, and auction cars may not be in a great condition.
Walk away if the bidding is higher than your budget.
Know all of the Fees Upfront
There are several fees that you need to consider into your budget besides just the cost of the car.You will be responsible for taxes, tag, title, transportation, and a buyer fee. You should know these fees in advance and include them in your budget.
Be Flexible
If you don’t like the vehicles available, then wait until the next auction day. There are many auctions every week, so if you don’t see something you like, then wait until you do.
Bring a friend
It always helps to have a friend when you bid on a car, even if you’re bidding online in your living room. They can help you stay focused and keep within your budget, and if they are mechanically inclined, they can help you determine if the car you want is something that can be repaired or not. It’s not worth buying something that will cost you a lot of money to fix.
Conclusion
Bidding on cars at online public auto auctions can be a lot of fun, but it can quickly become expensive. These tips should help you get the best deals at an open to the public auction.
