ivory nonperforming: Vehicle Auctions ? Buying a Bargain

Tuesday, July 17, 2012

Vehicle Auctions ? Buying a Bargain | Internet Contents

There are plenty of ways to source and buy a new car, but if you?re looking for a real bargain, it?s well worth considering attending a vehicle auction. Auctions offer a multitude of opportunities to find a great quality car at a low price and because there are so many cars entered into a vehicle auction, you aren?t constrained by the limited choices that you?ll meet when buying from a dealership.

It?s also worth noting that many dealers buy the cars on their forecourts from vehicle auctions themselves. They then add on their (often significant) profit margin to the purchase price that they?ve paid at auction ? so if you go directly to a motor auction yourself, you?re cutting out the middleman and therefore getting a car at a fraction of the price you?d pay a dealer.

Another way to secure a fantastic bargain at a vehicle auction is to attend an auction where they are selling repossessed vehicles. If you?ve got a fairly healthy budget, a repossessed car can prove excellent value, giving you ?more bang for your buck?. Generally speaking, a repossessed car should be in pretty good condition; they are usually nearly new vehicles with low mileage, which have been purchased on finance and then the owner has failed to keep up with the repayments. The financial institution that the original owner went through to fund the purchase repossesses the car in order to sell on and get their money back. They are not interested in selling at the highest possible price, but rather selling it on as quickly as possible in order to close the case and recuperate their outlay. This means that auctions selling repossessed cars offer the potential for getting a great car at a price far lower than its real worth.

There are plenty of motor auction houses around that host a variety of types of auctions on a regular basis. It?s important that you check what auctions they hold and when before you attend, as they will most likely separate their auctions into different types and categories. You will find many vehicles auctions are held around major cities and towns, so if, for example, you?re looking for a vehicle auction in Northern Ireland, it?s probably worth searching for a vehicle auction in Belfast or another of the bigger cities in the area. This will provide a better choice and perhaps a higher number of regular auctions.

If you don?t find the car that you want at your first motor auction, don?t be dissuaded. There is such a high turnover of cars being sold at the larger auctions, that there will be plenty of opportunities within a short time frame to revisit and try again.

Vehicle Auctions - Buying a Bargain