Why to buy your next car at an auction
Everyone knows that buying a car from a dealership can be a stressful and lengthy process, but it doesn’t have to be. Buying your next car from an auction can actually work out better for you for a couple of reasons.
It’s easier on the walletAt any given dealership you might be able to pick up a Fiat Punto hatchback for £9,000. Someone selling it at an auction will know it isn’t going to sell for much more than that. So they start the bidding at five or six thousand, anticipating a bidding war. Here’s the upside: if you’re the only one who wants the car, you’ll have it then and there! If it’s damaged as well, or there are some features that don’t work properly like the air conditioning, then that’s likely to knock the price down by another couple of thousand and you can get it even more cheaply. The damage may only cost a few hundred pounds to fix.
If you change your mind, you can leaveThe atmosphere at an auction is different to a dealership, and the difference is you’re buying a car, as opposed to being sold one. That gives you more freedom to be pickier, buy the car for less, and importantly, the ability to walk away from the sale. When you bid, you’re not depositing amounts of money on to the car. You only pay for the car once no-one else is up against you, so until that time, you have the freedom to get out. If the price is getting too high, just say you’re out and that’s it. The only downside to this freedom is you have to watch someone else drive your car away.If you’re up for doing your research, if you’re a keen buyer and you know what you have to do to get the car you want, you could end up with a great bargain.