The auto auctions can be intimidating yet exciting things. However, with the rising cost of vehicles, purchasing a used or salvaged car at auction is becoming a popular and promising option for the average consumer and even body and component collectors.
Since auto auctions are not well known to everyone, there are a lot of myths and misconceptions surrounding auto auctions.
You might even have come across some of these myths and started having second thoughts about attending an auto auction.
Below are some of the most common myths concerning auto auctions and the actual truths that should be known.
1. Beginners Should Avoid Auctions
Auctions are not suitable for novices or first-time users is a popular myth about buying used vehicles at an auction. Many individuals are afraid of auctions because of what they have seen in movies and reality television shows, but many fail to realize that movies are different from what happens in real life. Although certain auctions can become highly competitive and terrifying, this is not the issue in most cases. In fact, any prominent public auto auction recognizes this and thereby makes the process as simple as possible for first-time bidders. In addition, most auctions even allow public purchasers to place an offer on a car and purchase it without attending the auction. If there’s any myth you shouldn’t worry about, this should top the list.
2. Auto Auctions Only Sell Crashed Cars And Worn-out Cars
Perhaps this might be the only myth here with only a sliver of truth. Even though vehicle auctions have a wide range of used cars for sale, and of course, some of them are damaged and crashed, that doesn’t necessarily mean there are no good cars. In fact, the wrecked vehicles are mostly exclusive to body shops and components collectors. If you are at an auction with both wrecked and used cars, you can always identify and avoid the wrecked vehicles. Moreover, you may verify the car’s history using the VIN if you want to be sure it hasn’t been damaged in the past. The VIN check will also tell you about the car’s service history.
3. Auction Cars Do Not have Essential Safety Features
This is another myth about car auctions that is not totally true unless the car you are buying is an ancient car or a vintage one; then, this might hold. However, if you are worried about the cars’ safety features, they come with safety features too. These features, such as side airbags and an anti-lock brake system, are not removed when a car is resold. So, f you want to be sure the used automobile you’re thinking about buying includes safety features, go to the manufacturer’s website and compare it to the used car.
4. Vehicles Are Sold At Giveaway Prices at Auto auctions
While wrecked cars can be bought at relatively cheap prices at car auctions, healthy vehicles are not sold the same. It’s necessary to understand that, while the prices are significantly lower than those of brand-new cars or going to a dealership, you shouldn’t anticipate them to be ridiculously low. This is why people feel dissatisfied and disappointed when they go to an auction, and the prices don’t match their expectations. This happens mostly to beginners, so you can begin with a low price that you believe is reasonable if you are a newbie. To sum this up, auto auctions are not a giveaway, so don’t expect unreal offers except on wrecked cars.
5. You Are Not Allowed To Inspect The Vehicle
There’s a reason it is advisable to arrive early at a car auction. The reason is so that you can inspect the vehicle before putting your bid by going to the automotive inspection site. This is why, right before the auction, most car auction houses hold an “open house” of sorts. So if you arrive early, you will get to inspect the car at your convenience and in the right ambiance. Arriving late at an auction and bidding on a vehicle you haven’t had an opportunity to inspect is not a good idea and might leave you disappointed or even spend more than you anticipated.
Conclusion
These are some of the most typical misconceptions regarding auto auctions. Even if you don’t end up buying a car, most auctions are free to attend and may be a lot of fun even if you decide to buy a car, make sure to arrive early and inspect the vehicle and get the best price possible. If you’re unsure, seeking guidance from professionals is also a smart option.
