If you’re in the market for a new car, but don’t want to spend top dollar for the newest model, consider buying a used vehicle from a dealership. But if you’re feeling adventurous, look into buying one off of the lot at an auction. It’s a risky move, but if you know what to do, it could end up saving you enough money to buy the latest model of your favorite used cars in chicago.
Here are simple tips to help you find the right vehicle at auction:
Do Your Homework
Before heading to the auction, do extensive research on the make and model of your desired vehicle. You need to know the condition of each individual component and be able to differentiate between good and bad. Read the owner’s manual, look at the service records (if available), and study each individual part on the car.
Most auctions have a reserve price between which vehicles are sold and any buyer with less money is out of luck. To lower your chances of bidding against yourself and to save on gas, take some time to compare the cars at other dealerships in your area. Then call up one or two auctions to see if they’ll let you come down on the price.
Know Your Limits
You may have your sights set on a new BMW, but if your research shows that it will require expensive repairs, it’s probably not worth the investment. Be realistic, and don’t go over budget just because it’s an auction.
Keep It Clean
Don’t be afraid to walk away from the deal if there are a lot of signs of wear. While some wear and tear is normal, you don’t want to get stuck with a car that will break down after only a few short months. Stay clear of rust, scratches and other types of damage. Also look for any overspray on the vehicle – it usually means that repairs were done poorly and more work will be needed soon.
Inspect the Vehicle
Before placing any bids, make sure you thoroughly inspect the vehicle yourself. Look for any missing parts, tears in the upholstery, or evidence of leaks. If you’re having trouble finding any problems with the car, get a second opinion from someone who knows what to look for.