If you have been considering getting a new car through an auction but have never really taken part in one before, perhaps we can help you out with a couple of tips. Auctions can be fast paced and confusing but also easy, convenient and rewarding if done properly. But in order to do it right you will need to know more about auctions and get a feel for them.
• Find out when and where. The first thing you should do is research when and where auctions will be held. You can do an online search and find auctions in your proximity. For example, here are the Forthcoming Auctions fromt eh BCA (British Car Auctions). Once you find the right auction you can browse through their catalogue.
• Register and check the cars. After finding the auction you think is right you check to see if their website provides previews for the cars. Normally you should be able to search for the make and model of the car you are interested in.
• Get used to auctions. If this is the first time buying a car at an auction we suggest you take this opportunity to watch before taking part. Car auctions can be fast paced but you will get the hang of it. We also suggest bringing someone who has been to an auction before, if the option is there.
• Be there early. Be there at least one hour early. Pick up some of the catalogues and browse through the vehicles. Now is also a good time to decide how much you would like to spend. Also remember that in addition to the hammer price you will also have to pay a buyer’s fee.
• Prepare for the bid. Some car auctions will require the bidders to register before the bid starts while others will not. Find out if you do. If you buy a car without making any other arrangements you will be required to provide at least £500 advance, either in cash or by card.
• Examine the vehicles. Bidders usually have around one hour to check the cars before the auction starts. Now is the time to find the car you want to fid for. Just for safety, you should try and find at least two of the type of car you are interested in.
• Pay attention to the auctioneer. It’s very important that you carefully listen to the auctioneer as he reads out the details of the vehicle before starting the bidding. Make a special effort of listening to the selling description. Here are some of the possible descriptions:
- No major mechanical faults – the car is in good working order;
- Specified faults – the auctioneer will read said faults;
- Sold as seen (Without warranty) – basically the car is sold as it is, faults included;
- On an engineer’s report – The car is examined by an engineer and the report is placed on the windscreen of the car.
• Making the highest bid. If you made the highest bid and won the auction you will be required to go to the rostrum and give the clerk either £500 or 20% of the car’s value, whichever is greater. Simply complete the transaction and sign a purchase slip.
• Go to the cashier’s office. Here is where your invoice and vehicle documents will be. Now all you have to do is pay the balance which includes the price of the vehicle and buyer’s fee, pick up your documents and you are free to leave.
In addition, we also provide a special Transport Service for Auctioneers and Car Dealerships. So if you are a representative of an auction house we can provide transport to a large number of cars by using our fleet of transport lorries.