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So im 17 years old and have about 00 and i’d like to buy a cheap first car. I’ve heard about gov’t car auctions and am wondering if they have good reliable cars/decent looking cars for this cheap. And does anyone know of any in San Diego???

1 Comment »

1. 

   Public auto auctions aren’t always the deal they’re cracked up to be.

   First of all, when you buy a car at auction, you’re buying it "as-is". Auctions will advertise that they’ve inspected all the cars, but these inspections are usually cursory and unreliable. When I worked as a used car manager, I often found major problems on vehicles that auction inspectors were supposed to catch (frame damage, major mechanical issues, etc.). I always paid for frame and mechanical inspections, and because I worked for a dealership and had a relationship with the auction, I was able to hold them accountable for poor inspections (and get my money back). As an individual consumer, you probably won’t have that kind of leverage. If you buy a lemon, you’re going to be stuck with it in all likelihood.

   Secondly, auctions require you to buy a car pretty quickly. Even as a used car manager tasked with buying dozens of vehicles a week, it was a hectic process. If you’re not very careful and attentive, you can make a mistake and bid too much, buy a car with major damage, etc. Auctioneers are clever and they’re paid based on how many cars they auction off. They WILL try to trick you.

   Finally, "public" auctions are usually filled with cars that licensed dealers had no interest in. Dealers like to buy cars they think they can sell for a profit – everything else they ignore. Cars that get ignored are usually taken to a "public auto auction" where they’re sold to less knowledgeable consumers. (This is only true of public auto auctions – government auctions are made up of government fleet vehicles that can be bid on by anyone).

   If you decide to buy a car at auction, here are some tips:

   1) Decide what kind of car (a 91-94 _blank_, for example) you want before you go. Make sure you know what to look for, what to check for, etc. Also make sure you know what to pay. Check edmunds.com, kbb.com, and nadaguides.com for price info. Don’t bid on a car unless you know what it’s worth – that’s how you make a mistake.

   2) Don’t feel like you need to buy when you go – one of the biggest mistakes first time auction attendees make is feeling pressure to buy. My advice is to go to a few auctions and just watch – don’t bring any money with you. Just watch and learn. You’ll be amazed at how much you can learn watching a few auctions.

   3) Save up some more money. $1200 doesn’t buy much of a car these days…

   Hope that helps.

   Comment by steelers12661 — November 29, 2010 @ 9:02 am

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