How to be a better car auction bidder
There’s no denying the fact that British people love bagging a bargain. The rise of eBay, Aldi and Facebook’s ‘Marketplace’ are testament to that.
It’s therefore no surprise that when it comes to buying a vehicle, motor auctions are as popular as ever. But it’s not just car dealers and the public who are attending sales – they’re also a good option for business owners looking to purchase company fleet for staff.
With over 12,000 vehicles sold via auction every week in the UK, there’s certainly something for everyone, but it’s important to know some ‘best practice’ tips.
There are a few key considerations to take into account before, during and after a sale, to ensure you buy the right car for you or your colleagues:
Choose your vehicle – First of all, you need to decide on the type of car or van you want to purchase. If it will be used to drive to business meetings, for example, then a premium brand may reflect well on you and your company. Or, if it’s a work horse you’re looking for, then consider one with low mileage. You’re going to want something reliable!
Do your research – Once you’ve decided, then you need to work out how much to spend. Take a look on AutoTrader to find out how much they’re selling for, and set yourself a budget. Next, find out when your chosen type of vehicle is coming up in sale at a local auction house.
Go in person – Physical sales give you a better idea of how a car is running, sounding and looking. So, if you’re new to auctions, then attend in person first! If you need to rely on an online sale for convenience, look for one that offers detailed inspection reports, good quality imagery and maybe even video!
Arrive in good time – This allows you to scope out the car you want to bid on so that you can examine it personally. Look for similar ones to compare it to, so that you’ve got a good choice and be clear in mind mind of how much you want to spend.
Listen – When the auctioneer begins, listen out for details such as mechanical or specified faults and ‘sold as seen’ (without warranty).
Stick to your price – Here’s the important bit. If you’ve worked out how much you’re willing to pay, then don’t overbid!
Matt Dale is director of auction house G3 Remarketing
This was posted in Bdaily's Members' News section by Katie Mallinson .