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Auction Hints and Tips
Summary

Buying a Used car at an Auction? Some Tips...

There are several advantages of buying a car or replacement car-part at an auction. For a start, you could end up getting the car you have always wanted at half the price you would have had to pay if it was new. But, undeniably, the risk of breakdown and accidents is also higher if you buy second-hand than if your car was brand new. So, then, you should take steps to lower the chances of being duped into a dodgy deal.
First, you should know exactly what you want. There are loads of cars at auction locations and on auction websites and it is worth waiting for the one that best fits your tastes and needs. Otherwise, you might get sucked into buying the first car that you see, which can lead you into overspending, and regret further along the line. Second, you should know exactly how much money you have. There’s always going to be a car around that costs more than what you have set yourself. There’s no point going to an auction with the intention of saving money and then not really saving any.
Above all, you should also ask for some history. This means paperwork such as MOT and dealer documents. This will ensure your safety. Also, when you have bought the vehicle from the auction, you should immediately get it checked out by the RAC or the AA. This does cost, but it is worth doing as it will give you further peace of mind.
Finally, when you have bought your vehicle second hand, you’ll need to insure it, if it doesn’t already come with an insurance policy attached. Helpfully, there are many car insurance policies that offer cheap and extensive cover. At the moment, for example, Kwik Fit Insurance are offering a 20% online discount for car insurance, and they also have great value cover for breakdowns. You can choose either Kwik Assist Roadside or Kwik Assist Recovery, both of which offer cover 24 hours a day throughout the year. Both are backed by a network of trained mechanics, who will reach you in no longer than 40 minutes. Be sure to note that Kwik Assist Recovery is more expensive than Kwik Assist Roadside, because it includes transporting your vehicle to its destination. For more information on their services and for their car insurance, visit the Kwik Fit Insurance website.

Buying a car or car part at an auction or an auction online can definitely provide benefits, especially in the wake of the recent economic downturn. But be sure that you’re aware of the risks, and take measures against them, when buying second hand.
 

   

 

 

Buying a Vehicle Part at an Auction? What you should know about Insurance

In these economically worrying times, going to an auction in order to find replacements for your clapped out washing machine, fridge or car is more common than it has been. There are many online auction sites, as well as online guides to auctions sites across the UK, that can help you find professional and reputable sellers.

Many people, though, are not just dubious about auction sellers; they are also worried about the condition of the goods that get sold at auctions. Some worry that they will look bad or even worse that they won’t function properly. For peace of mind, it is common to find that many of the goods at auctions have been returned because of cosmetic defects, including scratches and dents, or ill-functioning - in other cases they are in tip-top condition. Usually, such items have been added to the auction list because they’re simply end of lines or cancelled orders. And they’re usually in the original packaging.

If you’re even more clued up, you can use an online auction guide to help you find the auction sites and locations that will give you the most extensive range of salvage vehicles, including cars and motorcycles. These online auction guides can also help you find easy-to-use auctions which are accessible 24 hours a day, 7 days a week. Usefully, at such online auctions, you get your own account page, which allows you to track bids, monitor your purchased vehicles and transactions as well as generate email notifications about items you’re likely to want in based on your buying history.

What many people do not know is that there are lots of auction sites that work very closely with insurance companies. Auction sites often help insurance companies improve the efficiency of their operations either by becoming a source for replacement vehicle parts or by playing a role in storage and recovery management.
It is worth knowing that many of the vehicle parts at auction sites no longer come with insurance, because the cost of repair exceeded the pre-accident value of the vehicle. In this case, you’ll need to re-insure the car or replacement item you buy. Helpfully, many companies such as Kwik Fit Insurance are currently offering good cheap deals on car insurance. Their online quote manager surveys its panel of UK car insurers to find you the cheapest deal, as well as the one that will best fit your needs. If you are looking for an insurance policy for your car or for your car parts, be sure to try the Kwik Fit Insurance website quote manager for car insurance quotes.

 

 

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Why Auctions...

Plentiful supply of goods, of all types
Not a lot of competition with other buyers
Opportunity to examine beforehand
Set your buying limit before the auction starts
DON'T get bidding fever, if the item goes above your limit, FORGET it!
You have exactly the same rights at an auction as every other bidder
If you're buying to resell, know your products and don't pay too much, you are not in a competition against other bidders
DON'T get bidding fever! (the single most important point!)
Enjoy yourself!

 

Bidding at Auction

 

Make sure you register if you need to, and get a bidder number or paddle
Ensure you have adequate funds or the means to pay for your purchases if you are planning on buying many items
Always make sure you examine the goods before hand, "caveat emptor" applies!


Most items are sold with NO guarantee
Set a price limit and stick to it! No matter what. If you get it cheaper you will be well pleased. If the bidding goes far higher then you will be pleased you didn't pay over the odds!


Make sure you have line of sight, eye contact, with the auctioneer, if at all possible
Be calm and disciplined in your bidding, always look at the auctioneer when bidding, establish eye contact. Don't worry about scratching your nose, it won't be taken as a bid, unless you establish eye contact and then scratch!
Do check the terms and conditions of sale. Don't forget the commission and VAT if applicable


Don't bid if you're not going to buy. Auction houses are for grown-ups to behave in an adult manner. If you bid, you will have to pay!
Enjoy yourself and remember, "It's not a competition". It's you against your limit price, NOT the rest of the bidders.
Remember to check with auction house before travelling. Sometimes auctions are cancelled at short notice .

 

 

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