If you are thinking about shopping at government car auctions, you are not alone. These days there are more and more people who buy cars at auction because they can get great deals. Sometimes shoppers at government car auctions end up paying more than they should, though, because the of bidders that try to outdo each other just to get hold of a certain car.
The best thing to do when attending government car auctions is to do your homework and have a plan. Here are some tips on how to get the best price at a car auction:
Most auctions will open at least 2 days before for you to inspect the vehicles. Take advantage and get there early.
Make sure you have a Kelly Blue Book, NADA guide, or Edmunds book
I-phones or other pocket-PC devices are helpful to be able to check car pricing web sites while you are at the auction.
Check with the auction consultants on hand to see what they think the final price of a car might be.
Its essential that you know the market value and trade-in values of the car(s) you are planning to bid for.
Check out the visitors showing an interest in the car you want to bid on – this can tell you where your bidding competition may come from.
It is recommended that you not pay over the Blue Book value for any of these cars.
Sometimes auctions that seem a bit “out of the way” can present even better opportunities. Keep this in mind when doing your research.
Attending auctions on rainy days will sometimes bring less bidder competition.
Becoming familiar with 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 and scare off all other buyers. You can always increase your bid price, but you can never lower it.
Start off 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.
Government car auctions are fun and exciting events that can help you get cars at close to or below normal trade-in prices. If you know the market value and condition of the vehicle you are interested in, it will help you get the vehicle you want at the best price.