Tips For Winning At Car Auctions

You may not know this, but the car auction industry is huge in the United States. With nearly 9 million vehicles sold a year, it is only second in the U.S. by volume of goods sold to Wall Street. However, these numbers do not necessarily mean that finding a good property at a car auction is easy. To be successful, you need to follow a few simple steps.

1. Before you think about buying a car, attend a few auctions to see if you're ready to bid on a car. Participating in these auctions is aimed at finding out how much you need to know about cars to become a winner at a car auction.

2. Please call the auction office in advance to find out the seller. Banks, financial institutions, and new car dealers want to participate in auctions where they sell cars. There's no need to look for car deals from independent car dealers at auction.

3. If possible, obtain the chassis number of the car you are selling before the auction. This is usually possible. Once you have the VIN number, you can get his AutoCheck or Carfax vehicle report for the car you're interested in to see if it is actually suitable for you.

4. Be sure to understand the auction rules before the auction to avoid surprises with buyer fees and deposits. You will also find out if there is an opportunity to test-drive the vehicle.

5. Red light, green light. Finally, you must be sure to understand her four lights of car auctions. A red light means the vehicle is delivered "as is." A yellow light indicates that the auctioneer will share information about a problem with the car. A green light means that if you are the winning bidder, you can view and drive the car for a few hours until the sale is complete. A blue light means the title has not been put up for auction yet. Therefore, the sale is only confirmed once the title is displayed.

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