Buying at a Government Car Auction in the UK – Some Tips for Buyers
If you’d like the opportunity to buy a reasonably-priced and well-maintained vehicle, a good place to start is a UK government car auction. Here’s some general information about government auto auctions that you might find useful.
Observe an Auction Before Bidding
There are several important factors that will influence whether you’ll be a successful bidder at a government auto auction. First, realistically consider what you know about buying at a car auction. If you don’t know a lot about auto auctions and their procedures, it’s a good idea to attend one as an observer before you become a bidder. By just watching an auto auction first and understanding its dynamics, you’ll be a lot less likely to get caught up in the bidding when you’re ready to go it on your own. The key here is to not end up spending good money on a bad vehicle.
Assess Your Automotive Knowledge
Another factor to consider is how much you know about cars and whether you’re able to make a good assessment of a given vehicle’s condition. If you don’t have a lot of knowledge, you might want to consider taking a friend who does with you to a public car auction. Since most auctions have an inspection period before the bidding begins, your and your friend should be able to decide on which cars are worth bidding on and what a fair bid for each would be. And if the vehicle auction offers a catalog, be sure to study it carefully. Some government car auctions even offer catalogs on the Internet.
Inquire in Advance
It’s important to remember that a government automobile auction may be selling cars at different times and in different categories. For example, you may encounter an auction comprised entirely of a fleet of vehicles owned by a specific government entity. Another type of government used car auction involves selling vehicles that may have been seized for various reasons like non-payment of taxes. Also, some auctions that are dedicated to just one make of car while others contain a good mix of brands. For this reason, it’s a good idea to inquire by phone what types of vehicles the auction contains.
Know the Legalities
There are legalities involved in buying a car in a government vehicle auction, so be sure you’re aware of the terms and conditions of the sale. These are usually published in advance, so be sure to read them carefully before bidding. For example, the vehicle may have “reserve” price. This means there is a base price below which the car will not be sold. Bidding on a car with a reserve of £1000 will start at that amount. Also, determine whether the government auto auction offers warrantees, delivery service or financing assistance. Many UK buyers find that acquiring a vehicle at a government car auction can be both an enjoyable and profitable experience.