Dealers' auctions--saves $ when buying a used car
Jan 14 '00
I recently purchased (Dec 3, 1999) a '97 Honda Accord. I bought it at the dealer's car auction, which is much less expensive than buying a car directly from a dealer or from private owner. Of course, only a dealer can buy a car at the dealer's action, but there are many dealers who would drive you to an auction and buy a car for you--whatever you pick. If you do buy a car, then a dealer gets a certain small commission (nothing compared to the mark-up if you buy it from a dealership).
The good: Buying a car at the dealer's action is the most inexpensive way to buy a car. Also, there is a wide choice of models to choose from. Your dealer (the person you are going with) can open the hood, check the engine, listen how the engine is working, and often even drive around the parking lot to feel how the car handles. Many car auctions publish brochures of sales from the previous auction with information what car with what features was sold and for what price. This gives you a good idea of how much the car you are looking to buy may cost. Old sales report is a very good educational tool. Also, it is safer to buy a car from a dealer's action than from private owner. Usually, the action will give you some time guarantee, so if something goes wrong with your car that is not your fault, you can return it back.
The bad: You never know how much the car that you like is going to cost. When buying a car from a dealership or from a private owner, you know what they are asking and then you can bargain with them. At the auction, you have to set the maximum price that your are willing to bid and tell it to your dealer (because it's he who does the bidding). And if somebody outbids your dealer, than you are back at the drawing board.
Considering pluses and minuses, buying a car at the auction makes a lot of sense, especially for someone who is not set on a certain make and model. You can save yourself a lot of money. I know I did.
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AlexG
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