Jul 3rd, 2010 | Written by scotty | Posted in Automotive |

With the increased interest in purchasing cars at auction, there are more and more bidders at
each repo auction. While many will be dealers and seasoned bidders, there are going to be some people new to the process. No one wants to make any newbie mistakes. Keep reading to find out how you can bid like a pro at car and RV auctions.

Mistake #1: Forgetting your photo ID.
Most auctions require you to be 18 or older and have a valid photo ID to register. If you can’t register, you can’t bid. Some will allow you to register online, so you can do it beforehand. Otherwise, remember to have your ID with you.

Mistake #2: Trying to attend auctions not open to the public.
Not every repo auction is open to everyone. At some, only dealers are allowed to bid. Be sure that the ones you are trying to go to allow the general public to bid.

Mistake #3: Not attending the preview period.
This is the time when the cars will be available to inspect. Since most auctions sell the cars “as-is,” the preview period is your chance to find out what kind of condition the car is in and what repairs it needs.

Mistake #4: Going to the auction with no maximum bids in mind.
Before you go to a repo auction, you want to have a maximum bid set for each car you plan to bid on. If you just keep bidding until you win a car, you can end up paying more than you should. Use trade-in value minus 10% for possible repairs as a general maximum bid.

Another great tip is to go to the auction with someone who has been their before and can show you the ropes.  If no one you know has experience, you may want to go to a few auctions before you can start bidding.  Best Luck

Popularity: 1%