How To Handle Car Auctions

    Posted by Ben Davidson about 11 days ago
    If you’re thinking of going to a car auction this weekend in an attempt to avoid the potentially crooked salesman on the forecourt here are some top tips on how to get your head right for approaching the auction.  This isn’t a list of what to look for from a mechanical perspective; this is how to make sure you have the right mindset to come away with a bargain rather than a headache.


    KNOW YOUR BUDGET
    Auctions are competitive by nature.  It’s very easy for a $1,000 bid to spiral into several thousand within less than a minute.  You want to grab a bargain, and if you are particularly attached to a car you’ve seen then your emotions will take over.  This is where setting a budget that states this is the absolute maximum you will spend is essential.  Think of this as a “do not cross this line” situation.  

    At an auction, your psychology is not necessarily your friend, because this is where your emotional brain will take over -- the inner child in you that takes the wheel and says “but I want that one”, yet unlike a child, you’re the one that’s holding the checkbook, and if you get carried away in the somewhat addictive (and competitive) nature of an auction you can find your initial bid of $100 has shot up to $1,000 before you know it.  This is where the “adult” needs to step in and enforce the “do not cross line”.


    DEFINE YOUR NEEDS
    It’s easy to get carried away at a car auction, and having a strong outline of what it is you actually need/want can save many an impulsive buyer.  There’s an element of a child in a sweet shop, with regards to car auctions, in that one can become overloaded with choice - and all of a sudden, a basic runaround, turns into a game of upselling yourself on many of the more premium choices available - particularly if you feel you are onto a bargain.  Work out a list of must haves, nice to haves, and non-essentials; then compare your choices to this list in order to ground you and make sure you’re not just getting carried away.


    TAKE A FRIEND
    Take someone with you that can keep you in check.  Share your “needs” and “budget” with them and have them as an accountability partner to make sure you don’t let your emotions get the better of you.  It would obviously be a massive bonus if this person happens to know what to look for mechanically - but most important, is that they keep you in check.


    GET THERE EARLY
    Often, auctions will allow you to view (and start) the cars prior to viewing - sometimes the day before; and this is a great opportunity to develop a shortlist without the hustle bustle of the auction itself.  You’ll be able to think straight, take time to reflect and sleep on your choices.  This is a very powerful tool.  The biggest challenge with a car auction is the temptation to be impulsive.  You want to research your options, reflect, and come back with a solid game plan - where you know your limits (and ideally have a supportive friend to enforce them).

    Tags:

    Latest Articles

    See All
    • When is it time to upgrade your car?
      When is it time to upgrade your car?

      November 21, 2017 - While consumers are now upgrading mobile phones and other connected devices on a bi-annual basis, a recent study by Time noted that this is usually not the case with vehicles. It found that car owners are planning to keep theirs for at least ten year

    • 2018 Subaru WRX STI: Rally car for the road
      2018 Subaru WRX STI: Rally car for the road

      November 15, 2017 - Ever wanted to awaken your inner rally god? The Subaru WRX STI lets you do that. Or at least it makes you feel like you did. A host of improvements for 2018 make the new STI an even better package than it already was.

    • How To Handle Car Auctions
      How To Handle Car Auctions

      November 14, 2017 - This isn’t a list of what to look for from a mechanical perspective; this is how to make sure you have the right mindset to come away with a bargain rather than a headache.

    • How to Prepare your car for Winter Driving
      How to Prepare your car for Winter Driving

      November 9, 2017 - Very important things you should consider doing to your car before the extreme cold temperatures hit.

    • Could You Go All The Way As A Trucker?
      Could You Go All The Way As A Trucker?

      November 2, 2017 - Delivery is one of the most crucial jobs relying on drivers today, and out of all the delivery jobs, we’re going to take a focus on truck driving. What does it really entail, can you take the pressures of the job and, perhaps most importantly, what d

    • 5 Ways To Outsmart A Crooked Car Salesman
      5 Ways To Outsmart A Crooked Car Salesman

      October 30, 2017 - Unfortunately, not all salesmen are honest, but it’s hard not be taken for a fool if you don’t know your wheel rim from your wheel trim. Well, worry no more. There are ways to outsmart a crooked car salesman. Here are just some of them.

    • Drive Like James Bond: Become A Stunt Driver
      Drive Like James Bond: Become A Stunt Driver

      October 26, 2017 - Now, we’re not suggesting that you take your ford fiesta and start climbing to crazy speeds in your local town but that’s when to hire a car accident lawyer. Instead, you can become a stunt driver yourself and learn some incredible tricks without sev

    • Common Car Emergencies That Could Become Serious
      Common Car Emergencies That Could Become Serious

      October 26, 2017 - It’s impossible to tell when something will go wrong with your vehicle and you might put passengers and other road users at risk. For that reason, it’s essential that all motorists educate themselves about the best course of action when the most comm

    • Bad Driving Habits You Need To Quit Immediately
      Bad Driving Habits You Need To Quit Immediately

      October 18, 2017 - None of us get into our cars with the intention of causing harm to ourselves or others, but we are often guilty of slipping into bad habits that could cause endangerment. We will look at some of these unsafe practices in this article, and if any of t

    • Unusual Ways Your Car Can Make You Money
      Unusual Ways Your Car Can Make You Money

      October 16, 2017 - We all know that driving for a company like Uber or Lyft can make you a little money on the side, but what other ways are there to make a bit of cash from your car? After all, you’ve probably spent a lot of money paying off the loan and running your

    Share This!

    or