A car auction is an event in which dealers and private sellers of automobiles, trucks, and other motorized vehicles will come to gather at a public place to place the vehicles up for the highest bid. This venue helps car dealers to get rid of overstocked cars and make run on their lot for the newest models. It is also a place that private sellers can take their car and get the best money without the hassle of setting up an ad in the newspaper or putting the car on the street with a for sale sign on the window.
The car auction is a place where a seller can make more money for a car than he or she put in to it. The sale is final and all paperwork is done at the auction. This saves time and money and will the seller and buyer immediate gratification with the sale it is the easiest method of selling a car without stress.
Car auctions are often planned on either a weekly or monthly time schedule. This allows the dealers to pick through their stock and find the vehicles that haven’t moved in some time. They will load up the vehicles several days before the car auction and truck them to the site. Here most cars will be detailed and outfitted so that they look their best for sale. Some lots let potential buyers on the property several days before the auction to porous the selection and get a heads up on what is available before the main buying crowds come the night of the auction. The earlier you come, the more time you will be able to check out the vehicle and see if it is a fit for you. Some car auctions do not offer this service.
The lot is open for an hour or two before the auction and there is not a large amount of time to look before you buy. This method of viewing stops large volume buyer from getting all the good deals.
The car auction serves the community as well as the people selling the cars. It is a good way to motivate people to fix up and clean up dilapidated automobiles and get them out of the community rather than these unsightly vehicles sitting on the street or in a neighbor’s back yard. The police will often take confiscated vehicles to auction to sell once their impound lot is full. This is a great opportunity to get a low mileage, high value car for little money. This also helps the community clean up the crime as the criminals vehicles are sold with no profit to them.
The community also benefits from car auctions by the event creating a social platform for car enthusiasts. If you are not a dealer, you can meet some interesting people at the car auction and possibly develop a relationship in which you can secure automobile purchases outside the venue. If you have never been to a car auction look in your local paper and go. It is a different type of entertainment even if you are just there as a spectator.