If you are interested in buying a car but do not have much money, I suggest you visit state auto auctions. Not only are the prices of cars sold there cheap, but the auctioned vehicles are also usually of good condition.
Moreover, the variety of vehicles in state auto auctions is so vast, so I am sure you will find the car that you are looking for.
You can never be sure of the quality of the automobiles sold in used car stores and other auction sites because these vehicles can come from anywhere and anyone.
However, you can be sure that the cars, trucks and other vehicles sold in state auto auctions are in good condition because they were formerly owned by top government employees or officials.
It is important to note that most government-owned cars are retired after either five years of use or when its mileage reaches 60,000.
Here are some useful tips that will help you get the best deals from state auto auctions:
1. Research is key
If you want bargain rock bottom prices, you must go the extra mile. Shop around for schedules and venues of state auto auctions. Events like these are usually posted in newspapers or online forums. So be sure to regularly check newspapers and the Internet for announcements.
Aside from knowing when and where the state auto auctions will be held, it is also important that you already have an idea on what car you are looking for and how much you are willing to spend.
Once you have decided what type or model of car you want to buy, you should now research its market value. Read magazines, classified ads, and even ask dealers and experts to know the selling rate of the car of your choice.
Thus, during state auto auctions, you can price your starting bid below (about 50%-70% less) the market value of the vehicle you are planning to acquire.
2. Timing is important
First-rate vehicles are either auctioned off at the start or the end of the sale. So it is best to be there when the auction starts and ends. Most people arrive in the middle of the auction and leave before it ends, so there won’t be too much competition at the start and towards the end of state auto auctions.
You should also not miss state auto auctions during rainy days. Since only few people show up in such events when it is raining, there is a greater chance for you to buy a car at great bargain.
3. Caveat Emptor!
Buyer Beware! Vehicles sold in state auto auctions, or in any type of auctions, are usually in an “as is where is” basis. Meaning, you cannot exchange or return the car once you have already bought it. So carefully inspect the vehicles or cars in your shortlist before bidding for them.
If you have no knowledge about car engines, it would be better to bring a friend or a mechanic who could help you assess the condition of the auctioned vehicles.
4. Bid low
If you found a car that you fancy, it is important to make the first bid. Ensure though that your bid is low. A high asking price at the start might spark a bidding frenzy. So instead of spending less, you might end up buying the car at a high price. You must remember that it is best to bid low and slow.