Monday, July 20, 2009

Home And Insurance Auto Auctions

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Monday, July 13, 2009

Auto Auctions - Things To Know

Buying a car is always a big responsibility. But making that choice on where to buy your car is a huge decision that needs to be thought through carefully. There are many choices on where you can buy your next automobile. You may buy it from a car lot or even off of EBay but have you considered local auto auctions as a place to get your next used car? Auto auctions are becoming quite popular. But there are some things you absolutely should consider before making such an important purchase from an auction. Are you getting the best deal for your money? What happens if something goes wrong? These are questions that you have to think about when it comes to your new purchase. In this article we will cover what auto auctions are and how they can either help or hinder your pursuit of a new automobile.

Why would I go to auto auctions?

Many people go to auto auctions because they can get a better deal on a car than they can at a local dealership. Many of the cars sold at auctions are from repossessions or from individuals who want to sell their car but do not want to go through the hassle of listing it in the local newspaper. If you are looking to find a decent vehicle at a low price then you should definitely check out the local auto auctions held in your state. It may involve you driving a bit but it may well be worth it to find the auto that you have been looking for.

How do I know if my new purchase comes with a clean title?

Usually the auctioneer will let the crowd know whether or not the vehicle comes with a clean title. Before the auction begins most people are given the opportunity to check over the vehicle and ask questions. If you are not sure of what a clean title is, it is when a vehicle is free from liens and has never been wrecked or at least not wrecked to the point where it is now a salvaged car. If the auctioneer does not volunteer the information then you definitely want to ask before you make the purchase. There is nothing quite like finding out that your new vehicle is still under a lien or has been wrecked to ruin the good feeling of having a new car.

Where do auto auctions get their cars?

Auto auctions get their cars from a variety of sources. The cars may be from repossessions foreclosed by the lender or the bank. Some cars come from private owners who want to sell their car in an auction environment rather than through the newspaper. EBay has turned into a popular auto auction site with many dealerships selling their inventory through the website.

What happens if I buy a car and it does not run as the seller said it would?

If the seller guaranteed you that the car had no obvious defects but you later found out that the transmission was slipping it may be a case of the seller not knowing about the defect. This is where the law comes into play. The law must factor in what the seller disclosed and what he or she did not disclose to the buyer before the purchase. There are some cases where the seller did not realize there was a potential flaw with the car when it was sold. Many sellers will sell the car "as is" and state any obvious defects that they are aware of. If you asked them specifically about something on the car and it was very obvious that they lied, you may have a case where you can get your money back. You will have to consult with a local attorney who can tell you the laws of buying a car in your state.

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Monday, July 6, 2009

All about Damaged Car Auctions

If you are a person who is very budget-conscious buyer who’s looking for a car and getting a brand new or even a quality second-hand one is not your thing, then you can go for a damaged car auction. The same thing goes for individuals who like the challenge of making diamonds out of dirt.

Damaged cars are probably the lowest-priced automobiles out there in the markets today. A brand new car basically loses a little less than a quarter of its value during the first time it is driven out in the street after the purchase, a damaged car has lost most of its market-value after years of torture or after a certain unfortunate incident. However, value is relative to the things that are done to the damaged car. Value can be restored eventually.

Damaged cars should be seen on the level of their “potential” restored value. Of course, no one will ever re-buy a damaged car if he has no intention of making it better for some future purpose. Auctions are great ways of getting one’s hands on damaged cars. These events are participated upon by different individuals who have different intentions. Some intend to reconstruct the cars to use them eventually for transportation. Some intend to learn how to make repairs and modifications and so they use these cars as experiments. But whatever the motivation, damaged cars are still popular to the masses.

What are some things that people need to know about damaged car auctions? Damaged car auctions are comparable to the regular car auctions. Here are some basic things that people who are participating in damaged car auctions should take into mind:

1) Know why you would want to have a damaged car

It is all a matter of purpose. People go to a regular car auction to be able to find great quality cars at great bargains. In a damaged car auction, people don’t go to find great quality cars but they look for potentially restorable cars. If you are buying a damaged car to restore it and use it as a mode of transportation in the future, you should give it good thinking.

2) Know your costs

Get the list of damaged cars that are being auctioned. From the list, choose the model that you would want to get your hands into. Do a little research and find more information about the said model, especially with regards to its current market price. Setting prices that you are willing to pay for a damaged car can be a little bit tricky, so our suggestion is that you make a table, or a matrix where in you put in different conditions and different prices that go along with such conditions. For example, “damaged hood” and “damaged tail lights” should given values and these should be subtracted to the price that you are willing to pay for the car.

3) Compare your prices

The main point in getting a damaged car is to get a restorable car and hopefully, the whole cost of acquiring the car and the costs of restoring it into a tolerable condition. If you are better off getting a quality second-hand vehicle than getting a damaged car and restoring it to its glory, then do so. Take note that some of the spare parts for such damaged cars can be hard to find. Also, there are some conditions that can’t simply be repaired and a whole overhaul is needed.

4) Thorough inspection is a must

Before bidding for a certain car of your choice, make sure that you inspect the vehicle thoroughly. Get to the venue early and start searching for the car and inspect it. Buyers should especially be wary about flood-damaged cars. Buying flood-damaged cars can have nasty repercussions during later stages because some of the damages that flood inflicts into cars cannot be easily seen and are permanent.

5) Secure all the papers

Don’t forget to secure all the papers if you were successful in buying a damaged car. A damaged car is still a car and the papers should be intact for future purposes.

Damaged cars connotes negative thoughts and impressions, however, it’s all about mindsets. One should look at them in terms of their potential and how this potential can be actualized. Great buys are never easy to have, but with the right mindset and strategy, one can make diamonds out of dirt through restoring damaged cars.

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