Before you attend an Car auction, become versed the rules.
Van auctions are venues in which sellers can transfer an elderly vehicle and in which canny buyers can snag a considerable deal on used cars. On the other hand, there are a numeral of rules governing both the buying and selling of cars at an auction. While particular regulations vary between auctions, there are a figure of rules characteristic to most events.
Have a Bid Card
Solitary bidders who hold a received a advance card--usually a goodly paddle that, when held up, is visible to the auctioneer--are allowed to tender at Car auctions. This allows the partnership running the auction to confine buying to approved buyers, who Testament be required to coeval a photo identification proving they are at least 18 and maybe to consent a cash settle.
Pay For What You Buy
Whether you proffer on a vehivle and you kill it, you hog to acquire it. How all the more of the complete reward a buyer must recompense and the die of value vary between auction houses. In some, such as the Lake Placid Festival of Cars Auction, a buyer may be required to pay the full amount in cash shortly after the purchase; another, such as Good Buy Auto Auction, will accept a down payment paid by personal check.
Cars Sold 'As Is'
Auction houses, such as American Auto Auction, seldom offer warranties or any other form of guarantee on the cars they sell, instead preferring to sell the vehicles "as is." This means that if a purchased car doesn't make it out of the parking lot, it can't be refunded or exchanged. However, many auctions allow buyers to inspect the cars before purchasing them.
Register as a Dealer
A dealer who wishes to buy a car must register himself as a dealer before bidding. Whatever cars the dealer buys are then listed in a database accessible to companies, such as CarFax.com, that offer vehicle history reports. Whoever ends up buying the car from the dealer is then better able to trace the car's past owners.
Auctioneer Rules
In agreeing to participate in the auction, a buyer agrees to abide by the auctioneer's rules. In an auction such as that run by Metro Auto Auction, the auctioneer has the finally say on all disputes that arise in the course of the auction. The new buyer is required to pay all taxes, registration charges and transfer fees that come with the car. The new buyer must in most cases purchase insurance for the car.
No Cameras
This can include disagreements over misheard or near-simultaneous bids. If a buyer bids and the auctioneer does not hear them, the buyer has no chance to appeal.
Taxes and Fees
Most cars sold at auction are sold without a license plate.Most auctions forbid the use or cameras or recording devices on the premises.
House Voids on Bids
Most auction houses reserve the right to decide, for any reason, not to accept your bid.
