Auction of cars may come from any sources. Some banks will send the cars for auctions, which are recovered from unpaid loans customers. Some dealers call for auction on specific cars, which the dealer may not be sold for a long time. An individual or a private person can auction their car to get a good price. Generally very old car models that were used long back will keep in auction by private persons. The old cars might not be made as an item of mass production.
Auctions can be live or online. There are many people who have had success in the auto auctions. There are so many auto auctions held worldwide everyday. These are at cities, towns and communities. There are several advantages and disadvantages with auction bidding. Now we will see them.
Pros
- Price: Car prices at the beginning of the auction is good. There will be no decrease in price once the bidding is stared. Based on car type, bidder interest, auction type and the popularity of the car the price increased. So there will be a possibility of getting a well conditioned car at a cheaper price.
- Choice: You could choose your car of your choice will always there in auction. If the model of your choice, is not available in a certain round of auction, you could wait for the next round and get. It might take a next few days or months. There are a good number auction places within the city and throughout the country.
In case of online auctions, there is a plenty of choice to bid the car of your choice. But if the car is to be carried through a long distance, transport charges will be high in case of internet auctions.
- Volume: There is a big number of cars at different places auctions are available. Usually there are hundreds in numbers. When do not find in the first auction there might be held in the next week or the next interval of the auction. Or can wait until the looking model is available in the auction.
Cons
- Legal issues: Cars available in the auctions may come from any source. It is difficult to identify where exactly the car is came from and how it is while in auction. Some cars may stolen, confiscated, smuggled and repossessions. In such these cases the car buyers will face the legal issues.
- Inspections: It is difficult to inspect the car before an auction. In many cases, it is not even possible to see the car. Check the history of the car with number through online to avoid the problems relating to owners. Also, bidders cannot get a chance to test drive the car before bidding.
- Guarantee: Once you purchase the car on auction, it is yours. You are the owner of that car. Remember to do complete the remaining aspects and only look at the ownership. Auctions generally offer a limited period warranty. Within that time you need to check it and give back to them if there is any issue. There might also be problem involving serious manufacturing defects that nee to be considered. As well there will be no other warranties for the car.
Thus there are equally advantages and disadvantages in auctions purchases. Make sure to choose to buy a car that fulfill all fitness conditions. In case of difficulty, ask for help from friends and relatives who is good at bidding and car condition, or take help from experienced trained professionals.