Used Car Auctions: Do's and Dont's
This is Part 1 of a 4 part series on how to buy a car at an auctionSo you are looking for a car or truck, but you're tired of running around town and finding other people selling their "headaches" through the local classifieds, or dealers offering "cream-puffs" for inflated retail prices. All you want is a good vehicle for a good price. Period. Does such a deal exist? Yes, indeed! Repossession auctions are becoming more and more popular across the country. I have been attending them for over 20 years, and have purchased many cars and trucks at bargain prices - everything from a brand new car (still with the window sticker on it and 3 miles on the odometer) for $1,100 below the sticker price, to a conversion van with 99,000 miles on it.
Both of these vehicles are still in the family and running strong.1. What I'd like to do here is share my experiences with you, and give you some tips on how you, too, can find these bargains.First of all, how do you find the auctions? Your local paper is a good place to start. Many banks and other financial institutions (such as GMAC) list the times and places of their auctions in Sunday papers under "Auctions" or "Cars for Sale". Also, if there is a "legal publication" in your area, that publishes court proceedings, bankruptcy notices, etc., this is another source for repossession auto auction notifications. One other way to find them is to call your local banks and ask for the Installment Loan Department.
They should be able to provide you with details on their particular auctions. Many even have regular mailing lists, where they will automatically send you a notification of their auction and even a listing of what vehicles will be included. While some institutions restrict their auctions to dealers only, most will allow the public to attend and bid. Once you have found an auction, be sure to get all the details BEFORE you go. You'll need to know if there are any minimum bid requirements, what type of payment they need, and what type of paperwork they provide to the purchasers.
Many auctions will sell everything to the highest bidder, no matter how low the bid is. Still others may have a minimum bid they must get, or they "buy back" the car and save it for the next auction. Most institutions retain the right to bid, so be aware that you may be not only be bidding against other people interested in the vehicle, but also against the auctioneer!While most auctions will publish their requirements for payment along with the auction notification, DON'T assume that that's all there is to it. Find out if they expect cash only, certified checks or personal checks. Also, many require full payment immediately after the sale, while others may require a non-refundable deposit with the balance due in a few days.
All too often I have seen people make costly errors at auctions because they didn't understand these payment rules.In this day and age of red tape, titles, liens, etc., the paperwork an institution provides is as important as anything else. In New York State, for example, if the institution sells the vehicle with "as-is" marked on the bill of sale, you may encounter a legal nightmare that involves a major full-vehicle inspection and an 8 to 10 week wait for a title search and registration procedure that will prevent you from putting the vehicle on the road for months. It is imperative, therefore, that you find out specifically what paperwork the institution will give you when you purchase a vehicle through their auction. If you plan on registering the car right away, tell them that and make sure you are satisfied that they will give you what you need. If in doubt, contact your local Motor Vehicle office ahead of time to insure that you'll be able to proceed with what the institution will be giving you.
Laws vary dramatically from state to state. Above all, make sure that all liens have been satisfied before you purchase a repossessed vehicle. Most banks and financial institutions will give you some type of form to verify this.OK... now you've found the auction and understand the rules and requirements. The next step is finding the vehicle that fits your needs.
In order to know what the vehicle's value is before you bid on it, you'll need a good resource of wholesale and retail pricing. One good source is the NADA "Blue Book". This book lists cars and light trucks by manufacturer and body style, giving you the current average wholesale and retail for each. I have used a book called "Edmund's Used Car Prices" for the past 15 years or so, and found them to be a very reliable source. Like the NADA book, it lists the cars and light trucks by manufacturer and year (usually the past 7 model years), and provides the vehicle's original list price, current average wholesale and retail.
It also provides you with a list of popular options, and what they add to the value of the car or truck. There's plenty of details in the book which I won't go into here. Just make sure you read the "How to Use This Book" section thoroughly before you start using it. Options such as air conditioning, power steering and brakes and type of transmission may dramatically affect the value of the vehicle. Also, excessive mileage for that particular year car or truck will affect the value.
So, read the book and know how to use it BEFORE you get to the auction.Visit my site at www.helpmebuyacar.bravehost.com.
My name is Thomas Miller, I'm student here in Detroit, MI. I love to do research, I love to write and most of all I cars.thomasmiller2005@aol.comTypes of Auto Insurance Companies
Different auto insurance companies offer different types of coverage to suit any need, budget, and car type. To know which one best meets your present requirements; you need to have a thorough understanding of each type.
Comprehensive Auto Insurance
This is the most common type of auto insurance. It is usually used for brand new to almost new cars and vehicles that still have a relatively high market value. This kind of insurance protects the owner against every possible thing that could go wrong ? theft, injury, damage, etc.
Filing for a claim is a snap ? there is no need to show fault. Because of this, rates of comprehensive auto insurance tend to be high. It's a good idea to avail of this type if you can afford it, because it can give you peace of mind.
Special Car Insurance
This kind of auto insurance is designed for vintage, classic and collectible cars. It has all the benefits that comprehensive insurance offers, so you...
Cars > Types of Auto Insurance Companies
Types of Auto Insurance Companies
Different auto insurance companies offer different types of coverage to suit any need, budget, and car type. To know which one best meets your present requirements; you need to have a thorough understanding of each type.
Comprehensive Auto Insurance
This is the most common type of auto insurance. It is usually used for brand new to almost new cars and vehicles that still have a relatively high market value. This kind of insurance protects the owner against every possible thing that could go wrong ? theft, injury, damage, etc.
Filing for a claim is a snap ? there is no need to show fault. Because of this, rates of comprehensive auto insurance tend to be high. It's a good idea to avail of this type if you can afford it, because it can give you peace of mind.
Special Car Insurance
This kind of auto insurance is designed for vintage, classic and collectible cars. It has all the benefits that comprehensive insurance offers, so you...
Cars > Types of Auto Insurance Companies
Getting Started In Radio Control Cars
Take note that you need to decide whether you want a radio control nitro or gas car or perhaps one that has an electric engine. You could purchase either one which is ready to run (rtr) or a kit. Now, knowing how much you would want to spend start going shopping for a vehicle that fits your specifications. Like me passion is what drew me to this exciting hobby and there's a lot you are going to learn before you can "get behind the wheel".It is always good start at a nearby hobby store - look for one that specializes in radio control vehicles. Speak to people you'll find working in the store and chances are that these people are true blue rc hobbyists as well.
There is much you can learn from, so pick their brains well. You'll find these machines to be sleek and powerful, tearing up the terrain in a jiffy and it's certainly a lot of fun watching them go.The types of radio control vehicles that you need to get aquainted with are nitro and electric cars, monster trucks, stadium trucks,...
Getting Started In Radio Control Cars
Cars > Getting Started In Radio Control Cars
A Harvest Halloween
To take advantage of the last days of autumn, we planned an outdoor Halloween party at our family farm. This gave us an opportunity to bring our friends together in an informal setting before the hectic holiday season. The kids grew excited as we drove past the harvested fields of rural farmland, the grazing cattle, and brimming roadside stands. The sights and smells of the country awoke their spirits of adventure and they burst from the car as soon as we stopped at the end of the dirt road. As they explored their surroundings, the adults began to set up.
Our party centered on the activity of making scarecrows. We brought out baskets piled high with faded denim coveralls, straw hats, and flannel shirts. The children enthusiastically costumed themselves as well as the scarecrows. They collected autumn grasses and flowers and wove them into straw hats to take home as mementos.The country setting and the crisp autumn air inspired many activities. Sack races, a tug of war, and a scavenger...
A Harvest Halloween
Cars > A Harvest Halloween
Jaguar XK: Car Of The Year, Best Coupe Awardee
Another set of honors goes to the Jaguar brand. During the 2006 Auto Express New Car Honors, the ?Car of the Year' award was granted to the Jaguar sports car XK. Another award was given to the Jaguar brand as per the ?Best Coupe' award was presented to the coupe version of the Jaguar XK.
The Jaguar XK also is known by other names such as the XK8, XKR, and the XK. It is manufactured by the Ford Motor Company and is marketed under the Jaguar brand.
It has been in production since 1997 and up until the present, this remarkable vehicle continues to be produced. It took over the spot of the Jaguar XJS in the line up of Jaguar vehicles. It is a GT car and has been produced in two body styles which comprise of the FR sports car with two doors and the FR convertible also holding two doors.
Geoff Cousins is the managing director at the Jaguar Cars in the United Kingdom. On the awards that the Jaguar XK took home, he remarked, "We are delighted that...
Cars > Jaguar XK: Car Of The Year, Best Coupe Awardee
The Smell A Lemon Makes
No, this article is not about just any lemon. Why should one person be writing about a lemon? This one is all about that kind of lemon ? the term that you use when referring to a vehicle that simply just does not work as promised.
One very interesting fact is that one jury in Orange County, California has found just what a lemon smells like. When before you thought that a car or a vehicle is a lemon when it simply does not perform well or seems to break down every now and then or just does not work as promised, well, this time around, a jury from the mentioned place has already defined just what a lemon smells like.
What happened was that a customer actually bought a 2001 Bentley Arnage.
The vehicle performed as promised. It zoomed through streets and roads and even made heads turn. The new owner of the vehicle was quite satisfied with the vehicle. Up until he noticed that funny smell that emanated from the vehicle. Of course, who would...
The Smell A Lemon Makes
Cars > The Smell A Lemon Makes
Cleaner Diesel Sensing a Lucrative Market
(ContentDesk) September 21, 2005 -- The IMITEC project developed an emission control system for light duty diesel vehicles. Diesel powered vehicles are increasingly becoming a major part of the European market and already occupy more than 50 per cent of the car fleet in several European countries such as France. During its research IMITEC scored a remarkable number of firsts. "I think when we started the project it was considered highly ambitious, but we have met out targets and we now have several technologies that will be commercialised," says Dr Athanasios G. Konstandopoulos, project coordinator and director of the Aerosol and Particle Technology Laboratory at CERTH/CPERI in Thessaloniki, Greece.
Diesel is the most efficient combustion engine currently available, says Konstandopoulos, but it comes with emissions of particulates, a soot made mainly of carbon, and Nitrogen Oxides (NOx) as by-products. IMITEC's major innovation was to create the first particulate sensors for next...
Cleaner Diesel Sensing a Lucrative Market
Cars > Cleaner Diesel Sensing a Lucrative Market
Used Car Auctions: Do's and Dont's Cars used cars