Motor trade auctions are one of the best places to find great cars at affordable prices, the perfect choice if you are looking for a vehicle to resell at your dealership. The advantage to this type of buying is that you can buy vehicles in excellent body condition with minor mechanical repairs, vehicles with great engines that have minor body repairs or those that are ready to drive away.
Auctions have become a very popular way to purchase vehicles for
the private buyers and the dealerships. They are also a great way to sell a
vehicle that you are having trouble selling, set a reserve and only part with
the vehicle if it reaches that amount or over.
What You Need to Know
The first decision you need to make is to determine what type of
auction you wish to attend, there are both online and those that are held face
to face. Online gives you access to vehicles from across the country.
In both instances you will want to find out what vehicles are
available and determine how much you would be willing to pay. It's essential
that you view the vehicle first, try and arrange for someone to view a vehicle
for sale on an auction site before you bid.
The auction houses will allow a set period of time where you can
view the vehicle, see it run and determine any problems it may have, this will
help you come up with the right amount of money to pay for the car.
Next you will need to pay a bidders fee if you are buying from an
auction house, the bidders fee gives you the ability to bid on vehicles. Once
the fee is paid you will receive a number which is used during the bidding
process and to register the owner. Remember that most auction houses only
accept cash.
If you win a bid on a vehicle you will need to have cash in hand
or have a bankers draft to prove you have the cash available, you will have a
short time frame in which to pay and collect the vehicle.
Online vehicles you can pay within a set number of days via PayPal
or pay cash on collection.
Whether you're looking for a great deal to resell or you're
looking for a vehicle to fix up, the motor trade auctions offer a good
selection that ensures you get the best possible vehicle for the right price.
Remember to restrict yourself and have a maximum on each vehicle and don't go
above that maximum to make it worthwhile.
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