When the time comes to buy a car, one needs to consider all of the available financing and dealership options first. Buying a car is an expensive experience but that doesn’t mean that it’s not affordable or that there aren’t more affordable ways to buy a car.
For example, you can already save yourself money by choosing to buy a car from a pre-owned or used car dealership as opposed to buying a brand new one. And if you’re already looking at pre-owned cars anyway, then why not try your luck with used cars on auction that you could buy at an even lower price?
When you start the financing process for your car, you’ll make use of a car payment calculator to help you decide on what you’ll be able to afford. This is probably the most important thing to do before you settle on a car or even start browsing. Once you know how much you can afford to spend on a car every month, you can look at which dealerships or buying options suit that budget. One of which will likely be auction cars. But before you attend any of the car auctions in Gauteng or Cape Town, you need to know what the risks are and what to look for.
When to choose a car auction
Choosing to buy your car from an auction isn’t necessarily anyone’s first choice unless they’re a car collector, searching for spare parts or have a very limited budget. And while there’s usually nothing wrong with the cars on auction, there are more risks involved than if you were to buy your car through a certified dealership.
So, if you aren’t able to afford to finance a car from a dealership or you’re looking for a good deal on a vehicle, consider buying from a car auction. Money will always be the greatest factor in buying a vehicle at an auction as it’s relatively easy to find yourself in unmanageable debt or even an upside-down loan on your car where the amount you’re paying for it with interest is more than the vehicle is worth.
Should you choose to browse and buy cars on auction, there are a few tips you’ll need to ensure you understand the process and don’t end up with a bad-buy.
What to do before the auction
Before you go to an auction to buy, you need to secure a few details and do the necessary preparations.
- Set a budget: The first thing you need to do is to set a budget. If you can, pre-approved financing for a vehicle can help in this regard. Use a car calculator to figure out how much you can afford and stick to that amount. If you’re worried you’ll end up spending more, draw it out in cash and don’t take more than that with you when you attend the auction. It cannot be stressed enough how important budgets are, especially when you’re about to put yourself in debt.
- Preview the cars beforehand: Depending on the car auction, they might release a list of the cars on auction a couple of days or hours before the auction event. This is your chance to preview the cars beforehand and check the VIN reports to verify the vehicle’s history. This would also be an ideal opportunity to have a mechanic view the cars and offer their professional opinion on the mechanical state of the vehicle.
- Documentation: You’ll need to have all your documents in place for the sale, should you buy a car. These include your ID, proof of address and a document to verify tax.
- Attend to view: Before you attend an auction to buy, you should attend an auction to view. Car auctions can be intimidating in person and if you aren’t sure of the general proceedings, it’s a good idea to attend a few to see what it’s all about, find a feel for the pace and see how other bidders handle the auction.
What to look for during the auction
When you’re ready to attend a car auction, these are the things you should keep in mind and be sure to do:
- Know the line-up: When you arrive at an auction, know which vehicles you’re interested in. And while that is important, it’s equally important to know when they’re up for auction in the line-up or else you’ll miss your chance.
- Inspect the vehicle: Seeing the vehicle up close allows you to inspect it for rust, flood damage and any general wear-and-tear that you don’t want in your vehicle. Auction cars are secondhand so there will be damaged “lemons” on the floor. Those are the ones you want to steer clear of.
- Start the car: At car auctions, you won’t be able to test drive the cars, but you can turn it on. This will give you an idea of how the vehicle has been maintained and if there are any strange noises to concern yourself over.
The best thing about car auctions is that they’re always different and you’ll rarely find the same car at an auction. It’s variety and affordability on offer and, if you play your cards right, it’s where you’ll buy your dream car.
Buying Vehicles at an Auction – A few Tips https://t.co/kDSB2qpZCa #ArriveAlive pic.twitter.com/SbEZtB9dIN
— Arrive Alive (@_ArriveAlive) July 17, 2016
Buying a Quality Used Car and Safety on the Road https://t.co/RA39TrVk2G #ArriveAlive #BuyingCars #Roadworthiness pic.twitter.com/6cnzGRORgT
— Arrive Alive (@_ArriveAlive) October 25, 2019