Wednesday, April 28, 2010

The Two Kinds Of Auto Auctions

There are actually two kind of car auctions; local auctions and online auto auctions. Let’s take a look at each of them, how they work and how you can utilize them to buy or sell a car easily and convenient.

Local vehicle auctions

If you want to participate in a local auto auction, the first thing you have to do is to pre-register with the local vehicle auction you intend to join. This is easily done and when you register you will also be provided with all the information you'll need. The auction staff will explain the local auction rules and procedures as well as instructions about how to bid.

When you register a vehicle for an auction it will be assigned a unique number and a specific location in the auction yard. Be careful to give the exact information about your auto; the condition your car is in, the mileage and title status. If you want to bid on a car, you should inspect it closely before the auction starts. You should also set your payment limits before the sale. Don't forget to signal your bid clearly to the auctioneer. If you have success with a bid, settle your transaction as quickly as possible with the block clerk.

Now, let's say you have won a bid and the transaction semi-closed. Your next step is to check out the vehicle carefully. Take a test drive and make sure the auto conforms to the auction guarantee and representation. When you are ready to pay for your new auto, the car auction staff will assist you in paying and will normally also guarantee good title. If you can't pay your vehicle with cash, check or credit card, the auction staff can almost always give you a third party financing offer. It's recommended however, that you have the finances in order when you enter the car auction because it is normally cheaper to find your own cheap financing rather than take what you'll get from the auction people.

The auction staff will produce an invoice copy for you that will enable you to drive or ship your new purchased vehicle to your location. Fortunately most car auction managers can help you make good deals regarding shipping arrangements.

Online vehicle auctions

If you think online motorcar auctions are significantly different from local auction, think again. As a matter of fact, online vehicle auctions work the same way as local ones. The only thing that distinguishes them from each other is that you cannot inspect the car before you buy it at an online auction, if its location is outside your area. Be aware however, that all the information you need about the vehicle is provided up front and you are also given access to detailed photos of the vehicles.

If you purchase a car from an online auto auction, it will be shipped to you for a minor fee. As soon as the vehicle arrive at your location, you will be able to inspect the car before you finalize the deal. So you have nothing to risk actually by purchasing your car at an online auction.

Buying cars at auctions is probably the best deal you can make. You are guaranteed to buy a vehicle for less than what the dealer or a private person would offer for it. If you buy it at a government or repo auction you will save even more for your new Lincoln, Pontiac or BMW.

Terje Brooks Ellingsen is a writer and internet publisher. He runs the website Terje gives advice and helps people with automotive issues like cheap car auctions and online car financing.
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