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10 Tips For Used Car Auctions How To Protect Yourself

Auctions can be an intimidating place. Follow these steps and you will know how to handle yourself.

  • To purchase a car at an auction, it is common practice to do a bank transfer. Make sure you have enough money in your bank to purchase a car.
  • Since you’ll be running many VIN #’s throughout the day, go to AutoCheck and sign up online for their 60 Day Unlimited Vehicle History Report account. When ever looking for a used car, it’s a good idea to have the unlimited account. Get A VIN Check Instantly At AutoCheck®.
  • Get a contract that clearly states the title indication light as red, green, or yellow. With a contract, you can protect yourself if the title turns out to be false later on.


Important tips to get ready for an auction:

1. Get there early!

2. Stay focused on just the cars you realistically want.

3. Have an idea of what you want to pay beforehand. This requires quick research.

4. For a public auction, bring a Kelley Blue Book, NADA guide, or Edmunds Price Quotes. .

5. For a wholesale auto auction, just bring a Black Book with you or a smart phone to browse cars on the internet.

6. Have an AutoCheck® account to get title checks instantly.

 

Other Things To Watch For:

  • Watch for Non-matching VIN#'s all over the car. Stickers from the doors, hood, trunk, and dashboard should all be matching. If they don’t, this can mean the car has been in a wreck, stolen or has seen many shady owners.
  • There are two ways to check the VIN#s while you are on the go. Have a reliable person sitting a computer somewhere that you can call to run the AutoCheck® Vehicle History Report. You can also use AutoCheck on your smart phone to browse through VIN#’s instantly on your phone. Always double check titles given out at the auction as they can often be fake. Protect yourself.
  • Try buying a car that has the title with it. It’s much riskier to buy an auction car that has a title ‘in transit’ since you never know when you’ll actually get it. Try and get something in contract that states the maximum number of days you have until you get it.
  • Remember all the fee’s that can be tacked on at an auction like the Buyer’s Premium. This can turn what you thought was a great deal, into a loser.
  • Watch your ego. No matter how much you want a specific car or how much you want to beat the other bidder, don’t pay too much. This turns the auction into a complete waste of time.
  • Check to see if the car has been branded with emissions problems. Look out for a car being a Gross Polluter, which could costs thousands of dollars to ever get it registered with the DMV.


What are the different types of auctions? There are 5 main categories of auctions that you will typically see.

  • Online Auctions. Head to EbayMotors.com
  • Wholesale Auto Auctions (Usually dealer to dealer type auctions. You need a license to attend these)
  • Public Auto Auctions (Be careful at these. Know our guide before attending)
  • Police Auctions & Government Auctions (Check to see if they are open to the public before attending)
  • Insurance Auto Auctions & Salvage Auto Auctions (Check to see if you can attend these as well)

 

Important! Before You Go, Make Sure You Know The Following Information:

  • Have You Read Our Guide On Buying Used Cars? Read This


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