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Is it alright to buy cars from car auctions?

Public Comments

depends what kind of auction you are talking about. if a police auction id say you better bring a well trusted mechanic. police run their cars HARD so you have to be careful what you are looking at. if its a repo car auction just make sure you are there to see the car in person and know all the details before signing anything
What, like ebay...?
Yes. Both of the cars that I have owned came from auctions. They're not much different than buying a used car, just a little cheaper and no haggling. A lot of guys I know make supplimental income by flipping cars. they'll buy cars in decent shape at actions, fix them up a little bit and sell them.
If you know how to restore a car then yes. Most the time a car at an auctions is cheap because it has a problem or two. But if you put the right amount of time and effort into fixing it it will be your greatest reward.
Is it alright is a many faceted question. Can you do it? Well it depends, there are both auto dealers wholesale auctions which you must be a car dealer to attend. There are also public auto auctions which anyone may attend. Is it a good idea? Well, that depends on what you are looking for. Typically you must have examined the car out in the parking lot before it goes through the auction lane. Once a car goes through a lane, that's it! You're done. The only case of that not being a final transaction is if you go to the car after it has run through the lane and discover major engine/transmission problems. Even then, it must be discovered prior to paying for the car and removing it from the auction, or the sale is final. You can also get caught up in the moment of an auction and pay more than you might have otherwise. Be careful. While auctions can frequently give you an opportunity to buy a car at a great value, it is definitely buyer beware. Be careful and know what you are looking for.
not unless your capable of looking at a car and knowing what is wrong with it. are you good with tools?
It's alright to buy cars from car auctions. Just make sure you bring a mechanic with you to check under the hood unless you know you way around cars. Also remember that there are other fees that are added to your initial bid such as taxes, buyer's premium and auction fee. So make sure you have enough money and don't get caught up in a bidding war which can end up costing you more money than the car is worth. I bought my first car from a car auction and got a really good deal.
I've been blogging about this at http://www.auctionsonline.org.uk