8 Steps to Purchasing Repo Cars for Sale at Auctions
Nov 4th, 2010 by GuestPoster
Buying repo cars for sale at auction will save you a lot of money. Here at 10 simple steps to help you get started:
Find the auction. It used to be that most auction were advertised in the newspapers and in car classified magazines, now many of them are advertised online. My advice is to search for them locally an out of state auction doesn't really do you much good.
Know how the auction works. Auction rules very from state to state and auction to auction. Only plan on attending if it is a local car auction. If you are unsure, call ahead of time and ask or get to the auction early and talk to the auction officials or the other bidders about what the standard procedures are.
Thoroughly inspect the vehicles before hand, if the auction allows you to, get their early. This may help you to get a better deal.
Know how much the cars you are bidding on are really worth. Using a cell phone or an I-phone determine home much each car is worth both as a private party sale and as a dealer trade in.
Try a practice auction. Make the first auction you attend a practice auction so you can learn how the process works and feel more comfortable with the process.
Determine the highest amount you are willing to bid for each car after taking out contingencies for repairs other expenses. Be care not to exceed this bid amount.Place your bid. You don't need to be the first bidder. People are more attracted to popular auctions.. I prefer to wait and start bidding when I am only going to have to bid against one person. This allows me to get the best price.
Finalize your purchase. Congratulations you are the winning bidder. Go Home and enjoy your new car!
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