When it comes to buying a car, many people choose used cars over new cars. This is due the value of new cars will drop drastically, approximately 40% within first 2 or 3 years. For instance, if you buy a new car for $ 21,500, you can get the same car used in 2 years for about $ 17,500, which is about $ 4,000 cheaper. People often go to public car auctions to get used cars because they will be able to buy a decent car at a wholesale price. However, you need to know some tips of how to get the car you want in one of these auctions.
First of all, always be prepared with cash or a bank draft, as most of the time, you will have to pay on the spot, or within a very short period of time. Having cash or bank draft in your hand also helps you not to spend more than you plan and to stick within your budget. Next, you need to come to the auction about one or two hours earlier to inspect the cars in which you have interest. Do not just stick to one car because if other buyers are interested and bid very high, you will have to keep up by increasing your bid to be able to win the auction and secure the car. Having some cars in mind as options is highly recommended. Bring a friend who knows about cars to give you advice whether the car you want is good or not, and whether it is worth the value. Do not come by yourself if you have no idea about cars as you might end up buying a car that is in poor condition. If a test drive is allowed, test drive the car and see how it feels and if everything runs smoothly. Do not forget to ask for the list of the auctioned cars before the auction begins. This way, you can make a note about the cars as they are shown to the public one by one. You can also estimate how much you are willing to pay for the cars you are interested in based on the specifications you have already written down. Bear in mind not to bid right away for the car you like, but learn the bidding process first. Study how the auctioneer leads the bidding and how people bid in response to competitive bids. You can then try to bid but always stick within your budget reduction.
The most important thing is that you should not pay more than what you planned to pay just because other bidders keep increasing their bids, as you may end up getting the car for a price much higher than what the car is really worth.