When you need a new car, but don’t have access to auto finance, you might want to look into attending a Manheim Auto Auction nearby. These insurance and salvage auctions offer tempting deals on wheels, but are they really worth it?
Auto auctions can result in huge savings on quality pre-owned cars, however, some include salvage cars that are in less than ideal condition. However, if you have the money or skill to fix it up, you can still score a sweet deal. You could also buy a salvage car for parts to repair your own car of the same make and model.
Auto Auction Basics
Just like any other auction, car auctions are facilitated by auctioneers who assign a lot to each car. Attendees will bid on the vehicles and the highest bidder will take car. In most cases, you can buy a car for significantly less than its actual value at an auction.
Online auctions are also quite popular these days. These types of auctions can take two different forms. For instance, the owner could put the car up for auction on a site that allows people to bid online. Another type of auction, usually facilitated by auction houses, involves the buyer employing someone to bid on the car they want at a live auction.
Cars Found at Auto Auctions
Some car auctions are held by the government, such as police car auctions that sell public service cars (police cars) or those taken away from people who didn’t pay taxes. Banks also hold auctions to sell off repossessed cars that have been taken away when owners were unable to pay their installments.
Public auctions, such as those held by Manheim Auto Auctions sell second-hand cars when the owners don’t want to simply sell them privately. Dealers and rental car companies often use auto auctions to get rid of older models in their fleets.
Take-Away on Car Auctions
If you’re thinking about buying a car from an auto auction, it is important to take someone along who knows more about cars than you do. Since auction cars are sold as is, there will be no recourse if it is not as great on the inside as it looks on the outside during your walk-around inspection. The car might have been submerged in water during a flood, or it might have been chopped (put together using pieces of different stolen cars), which could make it pretty dangerous.
Provided you take an expert with you, or you know enough about car auctions, attending a Manheim Auto Auction is a great way to get a good car for less.
Image credit: Auto Auction via Jiri Hera/Shutterstock