We talk to people every day that are interested in buying cars at auction but just don’t know how to begin. Confusion on buying auction cars is to be understood since car auctions might be one of the least-exercised options people have when buying a car.
But, why do so few people explore car auctions as a means of purchasing their next car? It’s our belief there’s a lot of misinformation about car auctions paralyzing the public from taking action and exploring this underrated means of vehicle acquisition.
Mostly, people fear car auctions as scams full of junk cars that will break down the moment you drive them off the lot. That, my friend, is simply not true.
ASAP Towing hosts 72 car auctions per year in northeast Florida, one each month at our locations throughout Jacksonville and St. Augustine, so let us set a few things straight:
Car auctions provide a great place for people to pay only what they want to for their vehicle, generally person-to-person, instead of buying from a dealership. Instead of starting at an asking price of $20,000 and trying to work your way down with a salesman, you start at $0 and bid the maximum you want to pay for a car—that’s the beauty of a car auction. Sometimes your bid is the highest, sometimes it’s not, but you control the entire process and can end things quickly if you ever start to feel uncomfortable.
And, what would make you feel uncomfortable? There’s essentially two areas of a car auction that might make you question their validity: money handling and car quality. Everything else is just a minor detail.
To find the best credible car auction near you, let’s assume you’ve gone online and found a list of local car auctions (probably by Googling that very phrase). You now have a list of five or six different locations around town claiming to have the best car auction. Now we have to weed out the losers from the list.
You want assurance that your money will be handled securely, which can be done by any reputable auto auction company. A phone call should be enough to find out this information. A company that can’t answer a simple financing question about their auction over the phone shouldn’t be trusted.
From your local auction list, call each one and tell them you’re interested in bidding at their next auction, you just need to know what forms of payment are accepted and what the purchase rules are.
Most auctions require a down payment after accepting your bid and take the rest later. This rule varies from company to company, so be sure to find one with a policy you agree with.
If an auction is cash-only, it should send up a red flag. Sometimes cash-only means nothing, sometimes it means a company is trying to keep something hidden. Investigate further and trust your judgment if you come across one of these auctions.
Stay tuned for our next article where we discuss the quality of cars at an auction and how they help determine a credible car auction company.
ASAP Towing is a reputable Car Auction Service
We have many locations in North Florida for car auctions. Look on those pages to find out more info.