You've decided to buy at auction. This will be because you want to save cash, save time and give yourself a greater selection to choose from. The one thing you do not want to do is spend good money on a 'lemon'. There are two major determinants which will effect the outcome, given the amount of money you have to spend, they are
1. How much you know about auctions, their procedures, the type of cars which they have on offer etc. 2. What you know about cars and about assessing their condition and worth.
If you are deficient in either of these areas, you will have to compensate. If you know little or nothing about car auctions, perhaps just what you have read in this magazine, then the only way to find out more is to go to one yourself, preferably more than one. Use the guide section of the magazine to choose an auction near where you live.
Make a 'recce' visit first...
Your first visit should be simply to familiarize yourself with the way an auction works. You may be surprised at the volume of cars on offer and the speed at which they are sold. It can be quite unnerving at first, but after a while you'll get the hang of it. Take a notebook with you, or better still get hold of a catalogue of the cars on offer; many auction produce these on the day of the sale. Take notes as the cars are driven through the auction ring, particularly of the prices the cars are achieving, that way you'll know how far your budget will stretch.
First come, first served...
Most auctions sell cars in different sections and at different times, according to a number of different categories. You may find the first cars to go through an auction on a particular day are all over 5 years old, followed by a late-year low-mileage selection from a company source and finishing with a section of one-owner vehicles with guaranteed mileages. Some auction sales are dedicated entirely to one make of car, Ford, Vauxhall orVW for instance whilst others will just mix everything together on a first-come, first-served basis. Make telephone enquiries and ask at the auction to make sure you time your visit to suit your needs.
Be sure to pick up a copy of the auction company's 'Terms and Conditions'. It's important that you read these carefully. If you find any of the 'legalese' in which some of them are written difficult to understand, ask the auction staff, they'll be happy to explain. Find out about the services the auction has to offer, like collection and delivery, finance facilities, warranties etc. You may want to take advantage of these later.
Develop a skill to listen carefully to the auctioneer...
There is always some information attached to each vehicle in the sale, sometimes this is simply a lot number, ideally it will be a comprehensive information sheet listing details like the age, specification, mileage, MOT, tax and general condition of the car according to the vendor. Try to develop the skill of listening very carefully to what the auctioneer has to say about each car as it is driven into the auction hall. This is a vital ability and needs to be practiced, if you make a mistake with what's said about the car you buy you have little grounds for redress.
'As Seen' with all its faults...
Cars sold at auction can be grouped into two broad categories. Those sold 'AS SEEN' and those sold ALL GOOD and with NO MAJOR MECHANICAL DEFECTS. Generally all the older and cheaper cars are sold 'As Seen', although some companies and utilities make it their policy to offer all their vehicles in this category, no matter what their age or worth. When you buy a car 'As Seen' you buy it with all its faults, whatever and however serious they may be. Not all vehicles sold in this way are duffers, but common sense tells you that any car sold 'As Seen' will have to be very carefully inspected indeed before it goes under the hammer.
One hour trial of the car...
A car sold 'All Good' is not necessarily without its faults either. It should not have any serious faults in its engine, gearbox, clutch, final drive, brakes or steering. You will generally have one hour after you have paid for the car or after the end of the sale in which to locate any faults to these major mechanical parts. If you do find any you should report them to the auction immediately and they will either refund your money or negotiate a suitable reduction in price with the vendor on your behalf.
The only exception to this is when the auctioneer or the vendor has declared a specific fault before the car is sold such as “...this one has a noisy gearbox...” or “. .the brakes are in need of attention...”. If you miss what's been said from the rostrum, or don't read the information posted on the windscreen properly you'll be lumbered with these faults. 'All Good' cars sold with mileage warranted correct should be declared so by the auctioneer. If you subsequently find the mileage reading to be false, the same rules should apply. |