Why Take Caution When Buying a Car at an Auction
If you’re on the hunt to get your next vehicle at a real bargain, you may consider buying from an automobile auction. Nabbing an auctioned car can get you a car at a steal, but you’re taking a big risk getting your daily driver that way — especially if you’re a novice auction buyer. Here’s why you should take caution at a car auction before you bid.
Great gadgets: What tech features should you look for on a used car?
Where do auction vehicles come from?
Car auctions that are open to the public acquire their lots from a variety of sources:
- Retired government vehicles like police cars and utility trucks
- Unclaimed impounded cars for parking violations
- Vehicles repossessed by banks for delinquent payments
- Totaled cars from accidents or natural disasters like floods
- Trade-ins from local car dealers
- Exhausted units from rental fleets
It’s uncommon for an auctioned car to be in excellent condition. Most units have endured years of heavy usage or maintenance neglect that affect their quality.
Why is buying an auctioned car a risk?
Acquiring your next commuter sedan or family SUV at an auction is tempting because of the rock-bottom price, but you’re taking a big risk — both in the car’s condition and source. Drawbacks of a car auction include:
- You won’t be able to verify its mechanical dependability by taking it for a test drive
- You won’t get a warranty to cover major repairs of defects/mechanical failings
- The car might have a sketchy background
- It’s easy to overbid by getting caught up in the flurry or giving the wrong signal
- A plant could be acting as a fake bidder so you pay more for the car
- You won’t haven’t had time to research a car because you have to decide immediately
- Won’t be able to finance the car and pay for a bit each month
- You may have to pay extra money for repairs when you get the car
The most reliable way to buy a used vehicle will always be to go through a car dealership that inspects their vehicles thoroughly to ensure they’re safe for public purchase.
Aaron is unashamed to be a native Clevelander and the proud driver of a Hyundai Veloster Turbo (which recently replaced his 1995 Saturn SC-2). He gleefully utilizes his background in theater, literature, and communication to dramatically recite his own articles to nearby youth. Mr. Widmar happily resides in Dayton, Ohio with his magnificent wife, Vicki, but is often on the road with her exploring new destinations. Aaron has high aspirations for his writing career but often gets distracted pondering the profound nature of the human condition and forgets what he was writing… See more articles by Aaron.