If you are thinking about shopping at Government Car Auctions, you are not alone. In this economy there are more and more people who buy cars at auction, because they can get great deals.
Sometimes bidders at seized car auctions end up paying more than they should though, because the of bidders that try to outdo each other just to purchase a particular vehicle.
The biggest secret to success when attending government car auctions is to do your homework and have a plan. Here are some tips on how to get the
top value at a car auction:
• Typically, auctions have an inspection day 2 days before the auction for you to check out the vehicles. It is recommended that you go early.
• Make sure you have a Kelly Blue Book, NADA guide, or Edmunds book.
• Iphones or other pocket-PC devices are helpful to be able to check car pricing web sites while you are at the auction.
• It is important that you know the market value and trade-in values of the vehicle(s) you want to bid on.
• Check out the visitors showing an interest in the car you want to bid on – this may be the competition for the car you are bidding on.
• It is recommended that you not pay over the Blue Book value for any of these cars.
• When researching auction locations, keep in mind that auctions off the beaten path may present even better opportunities.
• Going to auctions in bad weather will sometimes have less bidders.
• Get to know the auction rules. You don’t want to lose at auction because of some technical violation. Different auctions often have different rules.
• When bidding starts make a low offer. Don’t think that you can start off with a high bid to scare off all other bidders. You can always increase your bid price, but you can never lower it.
• Go in with a bidding strategy and don’t lose your focus. Do not get involved in a bidding war, as chances are you will end up paying too much for the vehicle. If you miss out there will always be another vehicle.
Car Auctions are fun and exciting events that can help you get cars at close to or below normal trade-in prices. By being familiar with the market value and condition of the vehicle you are interested in, it will help you get the vehicle you want at top value.
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