Posted October 30, 2018 05:11:30The auction is a great way to sell off old cars, and the sale will likely be a huge success for the buyer, said Mark Latham, a broker with Christie’s.
But what if the car is a used car, or a used motorcycle, or even a used SUV?
There are a lot of different ways you can go about buying a used vehicle, he said.
“If you’re not a licensed dealer, you can buy it on the black market or on the Internet, you have to get permission from a licensed dealership, but it’s not going to be easy to get a license to do that,” he said, adding that many dealers don’t know what their dealers can do.
“A lot of people go to auctions and they see a vehicle that they know they could go and buy, but then the buyer goes to the auction and finds out they can’t.”
For most buyers, finding an auction on eBay can be a great option, but the process can be daunting.
“There’s so many different ways to do it, and eBay is kind of like a black hole,” said Latham.
He recommends searching on your own, and making sure to pay attention to the sellers privacy settings.
Latham said most of the auctions are fairly straightforward and require no questions or explanations.
“It takes a while to figure out what they are looking for, but you can usually find the car by looking at a car’s photos and checking out the seller’s descriptions,” he added.
In addition to the listing, there are a few other things you should consider.
First, you want to check that the car has the right insurance, and if it does, then there’s a good chance that it is not an “unlicensed dealer.”
If the seller says it has no insurance, you should also check with the seller to make sure they’re not being paid a low fee.
“Most people think that they’re selling a used motorhome, but that’s not the case,” said Mark.
If you do not have insurance, it’s a better idea to sell it to someone who does have it.
“I think that insurance will save you a lot more money if you can find someone who has insurance,” said John.
But if you do have insurance and the car isn’t yours, you might be better off looking at someone else’s used vehicle.
“The insurance company will typically charge a higher rate for someone who owns the vehicle,” said Jane.
But not everyone is willing to pay the premium, and so you might want to look into other ways to make money.
For example, you could consider selling the vehicle to someone else.
“That might be a better option for people who don’t have insurance because it’s less likely to be lost,” said Paul.
Larger dealers often have the ability to offer other incentives, such as discounts or special offers, to entice buyers, said John, adding it’s important to pay close attention to all of the terms and conditions before you decide to buy.
“Sometimes a buyer can be upset when they see that the seller doesn’t have the insurance and can’t afford to pay,” he continued.
You might also want to consider the age of the car.
Some older cars, like the Nissan Altima, have a sticker price of $55,000, but older models like the Mazda6 or Toyota Highlander, which have a $25,000 sticker price, will often have a very low value.
“You want to pay it close to its sticker price,” said Mary.
If it looks like the seller is going to give you a better price than what they’re willing to give, then you might consider paying cash.
Lately, a lot, if not all, used vehicles are being sold at auction, but for some cars, there’s another way to get the sale going.
“They might sell it for a lot less than what you would get for it at the dealership, so you need to think about how much money you’re going to save by selling it yourself,” said George.
The seller will usually give you discounts and special offers if you want, and you can always look up more information on the auction on their website.
But you can only buy used cars for a certain amount of time, so the car should be in very good shape, said George, adding if it’s in really good shape and has the correct insurance, then it will likely have little to no problems.
For some older cars and motorcycles, the vehicle might have a lot to do with the value of the seller, so don’t worry too much about whether it is or isn’t an “outstanding” vehicle.
But remember that the only reason a car is being sold is to make you money, and it’s also a good way to build a reputation for yourself, said Paul, and make it easier for you to buy other cars that might be available for sale.