Luckily there are ways that one could purchase the vehicle of their dreams and it’s not only through a second-hand car dealership.
You can buy cars on auction because an auction allows you more variety to choose from and you could find a car you absolutely love at an affordable price. If you’re lucky you could get a vehicle that is still under warranty. If you are a first-time bidder, read the following tips below on how you can find your dream car at an auction.
- Know how much you’re willing to bid for
It’s important to know how much you’re willing to bid for. We’ve all seen that dreaded movie scene where bidding can go up depending on how many people are interested in buying the car.So always make sure you know how much you’re going to bid for and just because auctions are affordable, that doesn’t mean you should splurge if you don’t have the means to. Once you have an idea of how much, visit a lender who will see whether or not you qualify for the loan amount you’re looking for and if you will manage monthly repayments.
- Search for a vehicle that will be at the vehicle auction
Once you have the financing to make a bid you should find out which vehicles are available. You could always check online and see the vehicles, however, it would be better to go to the auction shop. That way you can see the actual car and do a car inspection, although you aren’t able to take the car on auction out for a test drive you can take a look at the interior and exterior of the car.Viewing days are normally held before the auction so if you don’t know much about the car you should bring a car expert to come with you. That way they can tell you whether or not the vehicle would be a good deal or not. If you don’t know of any mechanics you should a friend or family member along who knows a thing or two about cars. By doing that you prevent yourself from buying a lemon car.
It would be a good idea to have more than one car choice, that way if you lose the bid you still have a few options. Bear in mind that you aren’t the only one who will be bidding for that car. You should also always go for vehicles that are reliable, that gives you a higher chance of getting a car that is reliable and will last for years to come.
- Get the car deposit and your documents ready
Before you go to the auction house you need to have your car deposit and the necessary documentation that you would need.Those documents include:
Deposit amount, from R5 000
Your South African ID (or passport if a foreigner)
Proof of address
Tax verification
- Register as an auction bidder
Once you have all your documents and deposit, you’re one step closer to getting your dream car. When you get to the auction house with your documents and deposit you can register as a bidder. Always go an hour before the advertised time to ensure everything is in order and you are prepared.Keep in mind that if you make a bid and fail to make car payment you will lose your deposit, however if you were unsuccessful bidder you will be refunded. If you purchase the vehicle, the deposit will be deducted from the selling price. Therefore it’s important if you’re being financed that you have been pre-selected.
- Be alert
As a bidder, you need to be aware of how to bid, and which amounts to bid for. Always remember to start on a low amount and work your way up, that way you can still go higher but still stay within your budget. Another trick is bidding an odd number, for example, you could bid R40 900 instead of R50 000 first.Almost most importantly is knowing when to stop bidding. Even if you love the car, if the other bidder bids over your price range you will need to know when to stop and have the restraint to do so. Or if you see that you are bidding way over the car value then rather walk away and remember that there are other vehicles available.
Conclusion
If you’re planning on purchasing a car through an auction always keep in mind that just like any other second-hand car there is a chance that they have high mileage and might need repairs. Lastly, there is no guarantee when it comes to auction cars but if you prepare well enough, there is a high possibility to leave with your dream car.What do you think? Don't forget to drop us a comment and share to your friends!
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