In the fast-paced world of automotive enthusiasts and savvy buyers, the quest for the perfect vehicle often leads to the thrill of attending car auctions. Buying a used car at an online or in-person auction is worth considering as an alternative to purchasing from a dealership or a private seller. No matter where you live in Canada, you should be able to find a car auction near you!
How Do I Find a Car Auction Near Me?
The Internet is, of course, a great way to find out what car auctions can be found in your area. Start by typing in “car auctions near me”, and you should see the relevant businesses pop up in your search results. The advantage of buying from a local car auction company is that you can inspect the vehicles before bidding on them, and you won’t have to arrange to have them shipped to you once you’ve placed a winning bid.
On the other hand, inventory at a local car auction can be hit-and-miss. You may have to wait for a few weeks or months until a car that you’re interested in bidding on turns up.
Is it Worth Using an Online Auction Site?
You’re also going to see online auction sites pop up when you search for local car auctions, and it’s worth checking them out, too. You can expect to find a wider range of makes and models available online.
Before you place bids in an online auction open to the public, you will have to pay a fee to register. You will be responsible for transporting your car after completing the transaction, and there are no guarantees or warranties on a car bought at auction. That can be a bigger concern if you’re bidding on a car that you haven’t been able to inspect in person.
Can I Bid on My Own in a Car Auction?
Not all car auctions are open to the public. Many are only open to licensed dealers or brokers. Check first to see if you must use a licensed broker when buying a car through an auction.
If you are planning on buying your car through an online auction, you may not need a broker until after you’ve placed a preliminary bid, but you will usually need a broker to complete the transaction. The auction house may be able to put you in touch with a broker.
Photo by David McBee: https://www.pexels.com/photo/aerial-photo-of-building-395537/
How Should I Prepare for Bidding in a Car Auction?
Whether you’re bidding on a car or a China set, it’s easy to get carried away at an auction, and you may find yourself paying more than you planned after a flurry of bidding. That’s why you should always go in prepared.
Long before you start bidding, do your research first. Scroll through not just auction listings, but also dealership ads and listings by private sellers, so that you can see what’s being offered for sale, and at what price. Visiting used car lots can also give you a feel for the state of the used car market.
With all of your research completed, set yourself a strict upper limit for what you’re willing to bid, and stick to it. If you get outbid, be prepared to bow out, rather than end up with a winning bid that you can’t afford to pay.
If you can’t pay cash for your car, you will have to make arrangements for financing ahead of time. Most auction houses don’t offer financing, and you will need to pay the full bill as soon as possible, usually within 24 hours of your bid being accepted.
Buying from a Car Auction: Is it Worth It?
Whether you attend an in-person car auction near you, or bid from across the country on an online auction platform, buying a car at auction can be a viable alternative to buying a used car from a private seller or dealership. However, remember the keys to success in buying a car from an auction: go in prepared, set a bidding limit, and do your best to thoroughly inspect the cars you’re interested in.
Looking to Sell a Car in an Online Auction? Check out Autozen!
If you have a car that you want to sell and want to make maximum profit with minimum fuss, why not give Autozen a try? We run online auctions for dealers from across Canada. All you have to do is sign up on our website, and if your car meets our criteria, we will inspect it and add it to our next online auction. Once you’ve accepted the highest bid, your job is done! With the cash in hand from our quick and easy process, maybe you’ll find your next car at an auction near you!
