It Has Both Merits And Demerits
Buying a used car at a public auction has both advantages and disadvantages. Most people have a natural fear about buying a used car from a public auction. This fear is not unnatural because you are bidding on something about which you are not fully aware. That is why both types of possibilities exist when you buy from a public car auction. Either you may end up in getting a really great bargain or you may make a mistake and it may be a deal resulting in loss for you.
Associated Risk Factor
When you go to a public auction, it always carries a certain degree of risk with it. However, you can minimize the risk factor by going there only when you are fully prepared. You have to be well informed if you want to come out with a really great deal.
How To Prepare?
So, how should you prepare yourself for attending a public car auction? First, you have to be clear about your specific requirements. What kind of used car do you expect at a public auction? Some people expect to find a good used car at a really affordable price. On the other hand, there are individuals who are interested in buying a rare collectible from the public auction.
Rare Collectible Cars
If you are interested in buying a used car just to add to the collection then there are many houses that organize public auctions especially for the collectible vintage vehicles. Who knows you may find a rare collectible that can be among one of the best in your collection. However, it would be unfair to expect a cheap bargain in this regard because it is not only you but many other experienced buyers who will also be there.
For Own Use
However, looking for a used car for your own use is altogether a different matter. Most of the cars that are sold at these public auctions are the ones that are seized by the government. That is why they are sold “as is” and you cannot expect any kind of guarantee. Moreover, it is also not possible to take these vehicles for a test drive. At the most what you can do is just run the engine.
It is not only the price you bid but there are some additional expenses associated with buying a used car from an auction. You may need to spend a few hundred dollars on the registration of the used car.