Has anyone been to a car auction? I have seen that you can buy car from $500.00. I am trying to find a Honda and was wondering what they are like and if it is as good as it sounds.
2006-10-20 02:29:20 · 9 answers · asked by NIC 1 in Cars & Transportation ➔ Buying & Selling
Haven't been to an auction in 10 years but here's some stuff I remember....
Although you aren't allowed to drive, you are allowed to start the engine and shift.
The bidding gets competitive often times and the winner almost always pays retail.
I believe most auctions allow inspections the day prior to the event, so go and write down the cars you're interested in and run the VIN# at Carfax.com and their trade-in value at KBB.com.
Don't expect to get any help from the auctioneers cause they sell Retail value KBB only.
There is an auction fee of $200 or more, usually. So figure it in to your bid accordingly.
Bring a mechanic if you can or anyone who has knowledge of cars. The Cadillac my dad bought almost got in to an accident because the brakes failed as he was leaving the lot. It cost over $500 to fix it. So he ended up paying about $1000 over what he should've.
Expect to stay late if you win a bid. They took forever to process all the paper works and prepare the vehicle. We arrived around 8AM and left 5PM.
Overall, it was a BAD experience for me and I honestly wouldn't do it ever again.
2006-10-20 07:43:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Cars at auctions pretty much bring what they are worth. If you pay $500 for a car, you are going to get a $500 car. In most cases, this means a car that is at least 15 years old and may need mechanical and/or body repairs. A lot of insurance loss vehicles show up at these sales (flood damage, rebuilt total wrecks, theft recoveries, etc.) Also, cars at auctions are sold "AS-IS; WHERE-IS". This means no warranty or guarantee of any kind and if you don't like it after you buy it, too bad. You are usually not allowed to drive the car before buying it, though in some instances you may get to hear it run. Unless you are very familiar with cars or can take a mechanic with you to inspect it, you are better off buying from a reputable dealer.
2006-10-20 03:22:40 · answer #2 · answered by colglennlarson 3 · 0⤊ 0⤋
I will tell you like it is. I buy and sell cars from auctions. I go to aucitons and see cars for 500.00. This is an example of what you might get as inventory will always be different. 93 Lincoln Town Car that needs Tranny or something like that. You can get some good deals on cars but you are not going to get a 10000.00 car for 500.00. There are too many people looking for that kind of deal. The best kind of auction to go to in my opinion is a wrecker service auction in the bigger cities. Here you will find abandonded vehicles that was left on the side of the road for some reason. The ones that run, they will crank up and let you hear, don't try to drive it home like I see alot of people do. They was left on the side of the road for some reason. Maybe a water pump, altenator, something. Tow it home and repair. I have got some good money maker cars that way. Keep in mind, I buy a car for 500.00, put 200.00 parts and labor in it, and sell for 1000.00. Im not trying to get rich. Make a little and stay busy.
2006-10-20 02:39:09 · answer #3 · answered by Daryl C 2 · 0⤊ 0⤋
Yes, sometimes you can find a decent car at auction for $500.00, but the best cars at any auction will probably be bought be a used car dealer at a much higher price. You just have to be careful because you don't know the history of the car in question. Why is it at auction? - reposessed, DUI, abandoned on the roadside, or what. It would be best to have your mechanic with you to inspect the car before bidding on it. Check out this link for a while and see how the good cars go for much more than $500.00.
http://www.govdeals.com
2006-10-20 02:39:58 · answer #4 · answered by kw13815 4 · 0⤊ 0⤋
You need to be able to tell if the car is sound. A good mechanic could go with you. You then decide what you would be willing to pay and then bid on the car when it comes up for bidding. Remember there are no warranties given at auctions.
2006-10-20 02:38:32 · answer #5 · answered by waggy_33 6 · 1⤊ 0⤋
Yes you can get a car cheap from an auto auction, but it varies.
The cars you get cheap are usually 8-15 years old. The newer ones go about 5-10 thousand.
2006-10-20 02:43:16 · answer #6 · answered by beespicer 2 · 0⤊ 0⤋
Don't forget a lot of previous rental cars and taxi cabs go on auction blocks... If you get a really great deal, it will likely be on a vehicle that has VERY high mileage and wear & tear for its age.
.
2006-10-20 02:43:44 · answer #7 · answered by mama_bears_den 4 · 0⤊ 0⤋
Japanese cars tend to fetch more at auctions....people like then and bib and bid....plus there are auction fees attached to the final price.
How much are you looking to spend? Where are you located?
2006-10-20 02:39:25 · answer #8 · answered by Wil T 3 · 0⤊ 0⤋
$500 sounds like a minimum bid. If its worth less than $1000, you might get it for $500. You are not going to get say a $15,000 car for $500.
2006-10-20 02:33:31 · answer #9 · answered by pottymouth2 2 · 0⤊ 0⤋
Buy American...........GM,Ford or Chrysler.........Our auto industry needs your help...........
2006-10-20 02:36:48 · answer #10 · answered by Young 4 · 1⤊ 1⤋