There are important things you must know before buying at a Federal Auto Auction..
Like thousands of other people who have bought used vehicles at auto auctions, it can be easy and rewarding but only if you know what you’re doing..!!
Firstly, a bit of background. There is a Federal Agency (GSA) that has the main responsibility for purchasing fleets of vehicles. These cars are then leased to other agencies to meet their transport requirements. At the end of the lease period, the GSA collects these Autos so that they can be offered for sale at a Federal Auto Auction. The sale proceeds received then goes towards the purchase of the next fleets.
These cars being sold at the auto auctions have been cleaned and detailed for the purchaser to drive away in. It is not uncommon for these cars to be less than 3 years old. Most times they have been used for normal administrative duties (eg) for home visits by government staff, and as administrative pool cars, etc.
The key things about these vehicles is that they usually have been well maintained, they usually have low mileage, power steering, power windows, radio with tape, or CD, players, and are mostly popular makes and models. There are no buyers fees either, with prices being at wholesale.
However, they are sold on an As Is Basis. This means that it is up to you to carry out a thorough inspection of the Auto before you make any bids. Starting the Auto and inspecting it is normally allowed, but you can not drive it as part of your inspection. Get a copy of the terms and conditions from the Federal Auto Auction organizers before hand as well. This can help avoid any unnecessary surprises later on.
The Federal auto auctions mainly cater to auto dealers, but are usually happy to assist the public who maybe interested in purchasing. Make contact early and ask about the bidding process if you are new to it. You will also need to register for the sale before the Auction starts, so plan to arrive early.
Payment is typically made using credit card, debit card, cashiers check, or money order but it is best to confirm what the payment details and terms are before the Federal Auto Auction starts..
The most important thing has been left to last and that is, the source of information for auto auctions. For a Free search of past sales showing makes and prices paid provide some useful links for you on our site. Look for them under the Research Toolkit heading. You can even register and get up-to-date auction lists for a small one-off fee if you become a member with some of the auction list sources.
The Internet has made car buying at a great price a breeze with access to so many near new makes and models using Car Auctions. But Do You Have The Right Information To Search For Your Dream Car …? That is what you must have to be successful.
Good luck with the bidding...
More coming soon from the Auto Auction Guy...
No comments:
Post a Comment