Looking for a used car as your first? Maybe you’re just searching for some parts for your existing one? Perhaps, it is a classic car that you desire? Well, then you have come to the right place for information.
We are going to talk about how auctions can help you score your dream car. How they are useful for a first-time vehicle seeker. But before we get to the nitty-gritty details, it’s better to understand auctions and how they work.
How do Auctions work?
An auction isn’t held on a single day, rather it is spread over several days. You get to inspect the car in one or two days and then starts the bidding process.
Many auctions houses in New Zealand hold private bids, but some are public and open for everybody. The government-held auctions are also held but they are not as common as you might think. So, your best bid is to go for a publicly held auction where the masses are allowed to participate.
Moreover, some auctions are also held online, which is a bonus in current pandemic times. In online auctions, you only have to visit the location for inspection. The bidding process, on the other hand, takes place live online. You can place your bids and get the results in real-time. If you are successful, the auction house contacts you and then documentation and acquisition are discussed. Finally, you are either called to pick up the vehicle or you can get it delivered through a delivery service.
The auction begins with inspection day when you are allowed to survey the lot and look at potential vehicles. The rules for this day vary from one auction house to another. So, you will have to read the fine print diligently.
Some places do not allow you to touch the vehicle. They only give you permission to look at the car and ask you to decide on its condition based on the visuals. You might think that is a disadvantage but everyone else at the auction has the same opportunity. If the vehicle comes out rusted or broken beyond repair then you can put it on luck.
Interestingly, you are allowed to hire someone to inspect for you. Perhaps, you think that you do not have the expertise to examine cars and that you would make a bad decision if given the chance. So, why not pay some expert to do the job for you. After all, doing it this way increases the chances for you to score a good vehicle.
The business must be given all the information about the vehicle you want and the auction that you wish to enter. They then register on your behalf and inspect the vehicle to the best of their ability. You can trust them with this because they have made a business around that idea.
After you are done with the examination, the next step is bidding for your favourite vehicle. You must get to the auction place early, so you can get a good vantage point to look at the cars parading in front. Bids are pretty easy to make. If you see a car you like, you make a bid and keep increasing it until you
reach your limit. Remember, not to get caught up in the heat of the moment and lose track of your budget cap. You don’t want to be exceeding the limit of the budget in the competitive environment.
After you are done with the bid and you are successful in acquiring the car, the following process is pretty tedious. We are talking about the documentation and registration of the vehicle, among other things. It’s best to let the experts handle such things.
That’s where the inspection guys make their entrance. The guys who inspect the vehicles can also bid for you in your absence. It is pretty convenient for both parties.
Sometimes you can get the whole package, which includes inspection, auction and delivery. That’s the one you should be aiming for at all times.
Notable Auction Houses
As far as auctions go, it is better to trust a place that has been in the business for a long. A reputable institution will not scam you, and you are more likely to find a car there that is worth your money.
Manheim is one of the reputable auction houses in New Zealand. They hold auctions quite frequently, sometimes even twice or thrice in one month. So, you have a lot of opportunities with them. A few are coming up in February and then some in March.
Turners is another option for you and a good one as well. These guys are at the top of their game now, with classic car auctions, commercial and light vehicle auctions all planned in the next coming months. You can get yourself an exotic car or a timeless classic at an auction hosted by Turners. So, don’t miss out on the golden opportunity.
You have another option in the form of auto auctioneers. These guys have an auction every Wednesday. That means you have a chance every week to buy your dream car. Auto Auctioneers are also respected in the community and trusted for delivering every time.
Auctions are a great place to buy a vehicle but you also have the chance to sell one as well. If your car was in an accident and it got totalled, you can sell it to an auction as a salvage vehicle. Someone looking for parts might just come and buy it from the place.