Car auctions can be difficult for those who are not familiar with them. Understanding how auctions work can help you make the most of the low prices vehicles are typically sold in auctions. If you get aware of how car auctions operate, purchasing a car in this manner can be fun too.
In this comprehensive guide, we’ll walk you through every step of the auction procedure.
British auctions of cars are a great way to get cheap cars?
It’s possible to get an affordable car for just only a few hundred dollars. However, the prices for auctions can go to more than £50,000.
A typical auction for cars will include everything from city-runabouts to luxurious saloons. The cars that are auctioned are decades old , while others could be almost brand new.
Car auctions UK Are they less expensive?
A car purchased at auction is typically cheaper as you’re eliminating the middleman (or middleman) – i.e. the dealer.
Auction cars available for auction: Who purchases them?
In the majority (but in a few) instances there is a possibility that any member of the general public or business may take part in auctions available for sale. However, many buyers are car dealers trying to sell their vehicles to earn an income. In general auction vehicles are about 20% less expensive than those at a dealer’s on-street.
However that you are an individual citizen it’s not a problem for from going to auctions for cars and trying to purchase a car at a bargain for yourself.
Do I have the right to attend an auction as an individual bidder?
No. Certain auction houses only sell to “trade buyers” that are in essence dealers (dealerships) of all kinds. For instance, BCA Auctions only allows trade buyers to open buying accounts. It is important to note that some auctions for cars on the internet are available to both trade and public buyers, and others are exclusive to trade buyers.
Car auctions near me
If you are planning to buy and bid on an automobile online, but not see the car you are bidding on or even seeing the place that the auctioneer is located will matter less (although receiving the vehicle could be longer if the auctioneers are located a distance from the location).
If you want to look at the car(s) prior to auctioning, locate an auctioneer near you through a search for ‘car auctions in my area’ or something similar.
Car auctioneers are found all over the UK of course, but often far from major populations because they require a huge area of land for their operations.
Prior to the auction: online car auction listings
Potential buyers shouldn’t, typically speaking, go at an auction to bid on a vehicle without viewing the vehicle online prior to bidding.
Auction houses will advertise cars on the internet for a specified periodof time, giving the buyer the chance to consider the advantages and disadvantages of a particular car – or vehicle.
The epidemic saw an enormous rise in online auction purchases as opposed to purchasing in person. But, even though Covid-19 may have boosted the online component of auctioneering for cars however, nothing beats being able to view and hear – and smell a car prior to taking the decision to buy it.
Inspection prior to auction: be on time
Online viewing of listed vehicles prior to an auction is well and good but nothing beats having the ability to examine cars in person. In order to do this, you’ll need to get to the auction house before the auction starts, so you’re able to take a look. The majority of auction houses are will be open for inspections prior to 9 am.
Although a car may appear great online, a inspection could reveal problems that are not listed in the description or were not evident in the pictures.
Watch out for warning signs
From deflated tyres and shoddy paintwork, these problems are likely to be obvious on auction day, but it’s important to arrive early so that you can get an opportunity to take a view of the items that are on sale. By arriving earlier, there’ll be less people around, and you’ll be able conduct inspections of the vehicles in your own time, without having to cross paths with other potential buyers.
If you are considering buying vehicles at auction, it’s not recommended to place a bid on a car you’ve never met in person, or you might be surprised by some nasty surprises when you take the car at home (assuming that it doesn’t fail in the process! ).
What should you be looking at during an in-person check?
Bodywork panels that do not match
This suggests that there has been some significant repairs on the vehicle and that it could have been involved in a crash.
Check for paintwork mistakes and poor closed lines.
Repaints of poor quality
It’s likely to be an aesthetic matter, but some paint touches are applied to hide corrosion.
Tyres with a deflated air pressure
It’s going to be difficult returning your brand new car with a tyre that is flat.
If in doubt, walk away
If you find a string of problems with a certain vehicle, it’s best to leave even if you feel you’re not getting a good deal. Remember, there are plenty of other vehicles available from during auction day.
Gradings of auction houses: get to get to
Grading scales are utilized by British auction houses for cars to evaluate each car that goes to auction. It is important to know the way these scales function.
Cars are graded from one to 5. There’s also an unclassified class for cars with excessively high mileage or are extremely old.
Grade 1
Grade 1 is given to vehicles that are in good condition, and may require minor repairs. e.g. tiny dents that do not cause paint damage, missing trim pieces.
Excludes:
All panels that require to be repaint.
Grade 2
A medium body shop repair , or an amalgamation of a medium repair to the bodyshop and a couple of minor repairs.
Seven minor repairs allowed or a combination of minor repairs and missing parts.
Excludes:
Any vehicle with more than one medium-sized repair in the bodyshop.
Grade 3
May may have experienced up to four medium-sized bodyshop repairs.
It may require an upgrade to its bumper (but two bumpers that are new is not enough for this class).
Three major bodyshop repairs are permissible in this level.
Grade 4
One major repair with minor and medium repairs.
Excludes:
Large repairs are required to the structural parts, e.g. roofing repair.
There are more than one significant repair.
Grade 5
Two major repair work will be required and the vehicle will be classified as Grade 5.
Excludes:
Five major repairs.
Two structural repair or more, or two repairs for any other type of damage.
A mixture of all the aspects mentioned above, up to the maximum of 3,500 points.
Unclassified
Older cars or ones with extremely high mileage.
Perform an HPI check
HPI checks are a popular instrument to make sure that a vehicle hasn’t been hacked.
“HPI” is the actual name for the business that provides the check service, however, it’s become so widespread that it’s now a common word used to describe the process of checking a vehicle’s past.
Other companies also conduct “HPI checks”.
Although the HPI test is an expense, it can aid in ensuring that you don’t purchase the vehicle with an issue that is major and will not be a total cost-cutting exercise.
In contrast to the MOT check conducted by the government and HPI check, an HPI check will reveal whether a vehicle has outstanding debt or has been taken. In the event of an unintentionally stolen vehicle, police could locate it and take it away , making you a victim. It is crucial to get the details before parting of your money.
An HPI test will show whether a car was cloned i.e. that the VIN and registration has been changed to conceal the fact that it was stolen.
If a car is discovered to be scrapped and is subsequently seized, it is illegal to drive on a road that is not public regardless of whether it appears to be in good working order.
If a vehicle is later discovered as an insurance claim, obtaining insurance will be challenging.
In addition, some sellers turn back or “clock” the Odometer in order to achieve the best price (low mileage vehicles typically are sold for higher prices).
HPI check data comes from the DVLA as well as from insurance companies or even from the police. HPI check providers can offer up to PS30,000 of reimbursement if the data they provide turns out to be inaccurate.
Be aware that if the information is not disclosed or shared in any way, it will not appear in an HPI report. A HPI test isn’t certain to reveal every problem with a particular car.
Keep an eye on your car when it enters auction
It’s impossible to perform mechanical checks, and the only opportunity to witness the car move is when it’s taken to the auction house.
Make sure that the engine note is clear and there aren’t any worrying noises; also, examine the tyres.
This is yet another reason for going to the auction on location is superior to bidding on auctions online.
What is the best way to bid at an auction for cars (in in person)?
Before you can make any bids, it is necessary to sign up in the auction house’s auction system as private bidder. You’ll have to be at least 18 years of age and present a proof of identification.
The deposit you make
There is also the requirement to make the deposit. It’s usually PS500 and can be returned in the event that you do not end up buying an automobile. If you do purchase an automobile at auction the deposit will be deducted from the final price of the car.
Sending out your bids
When your car is brought into the auction room (at the point where you need to check for flaws like black smoke or engine noise , etc.) then it’s time to start the auction. You then have the opportunity to bid.
If the auctioneer demands an increase in the price of the vehicle , and you are tempted to make a bid, simply move your hand up or shake your head.
Be aware when you enter the auction area – as you don’t want make a bid on a vehicle you don’t wish to purchase!
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