I hear alot about Car Auctions? What's the catch? I hear alot of good cars go for very cheap prices!!! I know there's a catch! What's The catch!!! Im planning to go to one soon that why I ask..
2006-12-26 09:19:20 · 2 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
There are different kinds of auto auctions.
There are dealer only auctions, where only licensed dealers are allowed to buy or sell cars. There are public auctions, where the public is allowed in. There are also government auctions, where impounded and surplus vehicles are sold. Each have things you have to be careful to watch for.
With dealer auctions, unless you are a licensed dealer, you are not allowed to bid, and in most cases are not even allowed on the property to look. These auctions are for dealers to buy and sell to other dealers.
Public auctions set their own rules. some are absolute auctions, where the high bidder gets the car, no matter what the selling price. Some allow the seller to accept or reject the high bid. Some that are absolute auctions allow the seller to bid on their own vehicles, buying them back if they do not sell for enough money!
You have to understand that most cars that are at public auctions are there for a reason. The majority of vehicles are either consigned by dealers, who for whatever reason do not want to but their name and reputation on the line selling that vehicle on their retail lot, or are cars that were donated to charity. Most of them are "mechanically challanged".
Cars that are at impound auctions usually do not have keys with them, and you generally do not get to even hear them run. Most cars that are impounded and unclaimed have some sort of problem, which makes the owner decide that it is not worth the cost to claim their car!
Check the cars out carefully. Take an experienced mechanic with you if possible. Set a top price you are willing to pay for each vehicle, and be sure to allow for any buyers' fees that will be charged by the auction. Do not get caught up in the bidding, if the price excededs the price you set, STOP!
Be aware that you will most likely have to have some repairs done to the vehicle prior to being able to drive it, so allow for the cost of towing it to a shop or your home!
Good Luck!
2006-12-26 10:28:26 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
There is no catch you got the CASH and they got the CAR it is that spimple . The police took some of the cars that has been stolen or people not paying taxes on there cars and some of the people got there car taken by drugs involved, but they be having some nice cars and it is worth it.
2006-12-26 09:24:57 · answer #2 · answered by D'Asia 2 · 0⤊ 2⤋
Police impounds are the only ones that I've ever heard of that didn't have a hitch. Bring money.
2006-12-26 09:26:23 · answer #3 · answered by Cheryl 6 · 0⤊ 2⤋