Cars, Vans, Trucks, Quad bikes: Buying, Hiring Or Leasing A Car - "Checklist for buying at used car auctions" Thursday, 9 September, 2010

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Checklist for buying at used car auctions

by Paul Fryatt

This is the second part of a 2-article series. Click here to read the first part, Used car auctions - good or bad?

Checklist

You will need to inspect any car you are interested in long before the car goes in the auction to be sold. When you find a car that is suitable, go through this checklist.

It's very important to examine the car while the car is parked up, because it will be a little more difficult when the car is lining up to be sold and then everybody else will be looking. Best to check round the car when it's not too busy. Hence the purpose of getting to the auction early.

• Have a quick look around the car just to check for any accident damage to the bodywork - like panels having any dents or bumpers (if they are plastic) being cracked etc.
• Have a look on the windscreen for any chips or cracks, as this can be an expensive item to replace.
• Then have a look on the windscreen; the car should have a windscreen ticket displayed that should tell you all the details of the car. Please read through this information slowly and carefully, noting down any details about the car you need to know.

NOTE: If you are unhappy with any of the above, don't buy it. Simple as that. Just find another car. There are plenty more to choose from. Don't let your heart rule your head.

• After you have read the windscreen ticket, and if you are still interested in the car, examine the car a little more closely this time, particularly looking at things that might need replacing and add the cost to your purchase price after you have bought the car.
• Bear in mind that mechanical repairs can in some cases be carried out fairly cheaply these days, but bodywork repairs can be very expensive and this should be reflected in the price of the car.

Visual Checks: Things like tyres. Tyres can be very costly these days to replace, especially low-profile or sports tyres. If the tyres look like they are going to need changing in the near future, adjust your bid accordingly with this in mind.

Does the overall condition of the car match up with the mileage? Not just outside, but also inside as well. If the windscreen ticket says that the car has covered low or average mileage for the year, have a good look at the condition of the seats, especially the driver's seat. Is it worn, or does it match up with the mileage and condition of the car?

All these things are a visual check that you can carry out on the car to give you a better chance of buying a good car, eliminate some of the risks that are there and swing things in your favour.

Bidding For Your Car

When the time arrives for the car you are interested in to go into the auction, stand in a place where the auctioneer can see you clearly, but not in a place where you can be seen by everybody else, i.e. right in front of the rostrum.

All the inspection, the visual and mechanical checks on the car should have been done by now, so you know exactly how much your maximum bid is going to be.

Make sure you know how much buyers premium will be added to the purchase price, also if the car needs anything replaced, and keep a note of this in front of you when bidding.

Believe me (I'm a car dealer), you need to have all the finances worked out before you put in your first bid. If you don't you, could end up paying too much for the car.

DO NOT under any circumstances pay more than the figure you have in mind. If you end up not buying the car, another one will always be available. Even if you don't buy a car at the same auction, wait until the car you want turns up, and it will!

Paying For Your Car

If you are the highest bidder you will have to pay a deposit immediately after the bidding stops.

If after bidding you end up having the highest bid on the car, you will either reach the reserve price that the seller wants and the auctioneer will normally bring the hammer down to indicate that you are the successful buyer, or if the reserve price is not reached, then you will still be required to give your details and a deposit to the auction staff. This will be called a 'provisional' bid. What will then happen is the auction will contact the owner of the car and will try to negotiate a price on the car. If the seller will not lower their reserve price and an agreement cannot be reached, then your deposit will be returned to you.

In Conclusion

I am sure that you will find the car auctions that you visit a totally new experience of buying a car, and one that you will enjoy.

May I wish you all the best in your endeavours. Paul Fryatt.

Other articles you may find interesting:

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