Tips To Buy A Car At Auction
Car auctions are a great place to buy a car. If you know how to bargain you can make a good deal. You just need to consider a few key things to look out for. Here are some effective tips for buying a car at auction.
Which auctions you can choose to bid?
You can find two major car auction groups. One is BCA and another one is Manheim. But these car auction groups are not allowing members of the public to register and buy cars due to COVID. A spokesperson for BCA says that the company has decided to a temporary suspension of physical auctions. Their auctions are exclusively online. If you’re a motor trader, you can manage access to the BCA and Manheim auctions.
How to get the best deal?
At first, you have to select which specific model or type of car you want to buy. Then you need to decide how much you’re willing to spend. After completing all these basic steps, you need to research the typically used values to calculate whether you can bargain or not. Make sure that you have all the available information like buyer’s fees and other charges. Before the sale, all the details of the cars are published, so prepare yourself with the conditions of sale. In multi-vendor sales, many different cars are offered. If you want to avoid this type of sale, you should go to a fleet sale where the cars come from one, recognized vendor.
Learn about fees
After successful bidding, you have to pay a buyer’s fee. Fees or charges may vary in different auctions. It is linked to the car’s hammer price. Fees also can be linked to the bidder’s level of membership. Manheim offers five levels of membership. These memberships depend on how many cars you buy each year. If you are a basic Advantage member and buy up to three vehicles per year, you need to pay 4% of the fee which is approximately £600.