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Bring your Kelly Blue Book and do not
pay over the blue book price, there will be folks that have no clue,
they will run up the bid price because they have no idea what the auto
is worth. Let them have it.
Find out what the buyers premium is for that particular American auto
auction and remember to factor that into the equation, it is typically
5% to 10% of the winning bid. Most first time car auction buyers are
not aware of the buyers premium.
Don't forget to bring a vehicle
inspection check off list with you. It is so easy to forget some
crucial inspections. Forgetting to check the AC can mean a very costly
repair. This is key, as you will be buying from the car auction AS IS!
Tip!
We hear again and again that the previous owners were sincerely
worried that someone else might get their lemon car and be killed.
Their desire was, if the manufacturer couldn't fix it, it ought to
be scrapped, removing any chance that the vehicle might endanger the
lives of others, proving once again that the individual consumer
understands personal responsibility.
Do the VIN tags match? Mismatched VIN
tags, doors, trunk, hood, and dashboard should all match. Mismatched
VIN tags usually means the car or vehicle has been wrecked or stolen.
Deduct 30% if your vehicle history
report shows that the auto has a rebuilt title.
Check the odometer against your
vehicle history report. An alternate method is to look at the brake
pedals and see if the wear is congruent with the odometer. If the
brake pedals look excessively worn compared to what the odometer
reads, the odometer may have been tampered with.
Deduct for excessive mileage. The US
Department of Transportation reports that the average car is driven
13,500 miles per year. A good rule of thumb is to deduct 15 cents per
mile over that average.
Learn the American car auction
process, go to the auctions a few times and just observe and ask
questions. This will prevent you from making costly mistakes on your
first live auction.
Follow your gut instinct! If a car,
truck, or boat does not feel right, don't buy it. You will be right
more times than not.
If you follow these guidelines as
well as performing a thorough vehicle inspection, you can get some
real bargains at American car auctions. Whether you are buying for
yourself or to retail on the market remember to never fall in love.
There will always be another car at another auto auction. This is the
most powerful attitude and stance you can take as well as the best
prevention against telling your honey that you just bought a lemon!
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