Everyone wants good deals and you may have heard that salvage auto auctions is the place to buy cars at great prices. Well, it is not too far away from the truth but there are certain pitfalls and things to look out for before you can truly benefit from these auctions. If that was not the case, everyone will be buying cars from salvage auto auctions and everyone will be driving away happily with these cars.
The reason that not many people have benefited from these salvage auto auctions is due many factors. Firstly, not many people know about the existence of these auctions. Be it intentionally or unintentionally, this has worked to the advantage of many second hand car dealers who will buy these cars at low prices and sell for a higher a margin. Second reason is competition. As of every good deal in the world, there bound to be someone vying for the same things. An individual may not have the same buying power as car dealers who can bid higher for choice vehicles. Third reason is mindset of majority of consumers who are either too skeptical about the quality of these cars or too lazy for look around for better deals. Some of these issues can be overcome if you work on it. I will touch on 3 aspects here.
Majority of these salvage auto auctions offer a preview period of usually 2 days prior to the auction date to allow potential buyers to inspect and check the condition of vehicles. Although it is true that the auctioneers are all trying to get rid of the automobiles as quickly as possible due to the costs involved in storing and maintaining them, still it is in their interest to make sure that these automobiles are in saleable condition in order to fetch higher bids.
It would be ideal if you can bring along a mechanic to help you inspect the vehicle you are interested in. Nothing beats professional advice.
Bidding In A Salvage Auto Auctions.
Although most of the auctions are open to public, it should not be surprising to see more car dealers than individuals in these auctions. They almost always aim for newer cars that are well maintained. Hence, these choice vehicles will naturally draw higher bids. Never get into a bidding war with these people. Rather, set a comfortable budget for the cars you have in mind to guide yourself to prevent over bidding.
You will be required to pay on the spot upon successful bidding. Thus, it will be wise to get your pre-approved car loan or credit union ready before heading for salvage auto auctions.
Locating The Auctions.
It is possible to spot these auctions from advertisements in newspapers or call up auctioneers provided you know who they are. You can also go for online listing of salvage auto auctions. These online services provide real time information on these auctions as they may change the venue from time to time. Some of these services offer lifetime membership for only $50 and you can have unlimited access to information on these auctions all over the country. One such service even has listing of auctions in US, Australia, Canada and parts of Europe.
George Tho is a fan of sports cars. Read his review on a online service providing live information on salvage auto auctions here .
Author's review website on clickbank products: http://www.clickbankproductreview.com