Getting Started is Easy!
Many people are threatened by the word, “auction”, because it is often associated with fast talking, unclear buying terms, and a competitive market. But local auto auctions are not exactly what you see on television and in the movies; it is actually easy to place a bid in a local auto auction. Easier than you think! All you need is the right knowledge to place a successful bid you won’t regret. Look below for the tips you need to do just that!
🚗 Set a Budget and Stick to It
When it comes to auto auctions, the most important tips is to set a budget that is realistic and effective for you, and then stick to that budget no matter what opportunities or prices you encounter on the bidding grounds. Also keep in mind that there are additional costs on top of the vehicle’s selling price, such as an auction fee, prep fee, and taxes; so be sure to add these into your budget before you attend the auction.
🚗 Check With Your Bank About Financing Options
If you are eligible for a cash or car loan, and you can afford to take on new debt, you may want to check with your bank about your particular options. By adding to your budget, you can get a better quality car, which means a higher quality investment. See if you can get pre-approved before attending an auction.
🚗 Inspect the Inventory
It is important to look at each individual vehicle before placing any bids. Pay close attention to small mechanical details, like power windows, seat warmers, lights, and air conditioning. Be sure to make yourself fully aware of their engine and performance conditions. It is recommended to even bring a mechanic with you during this process. And do not hesitate to run a Carfax® report on the spot for any vehicle of interest.
🚗 Get Yourself Registered
Upon a moderate registration fee, many auctions permit pre-bidding before the auction actually begins. This helps to get the “cream of the crop” before the rest of the public is allowed in to bid. Registration terms and fees vary among auctions, but registering simply requires filling out a card.
🚗 Controlling Your Bids
Since you’ve set a budget, you know when to stop raising your card as the auctioneer gushes out prices. Continue raising your card for the vehicle you want, and then stop once the auctioneer hits your limit. If you win within your budget, go to the cashier, pay, get your receipt, and then show your receipt to the parking lot staff who will let you drive off in your new vehicle!
Indianapolis Auto AuctionsCall Zore’s Inc. at 317-247-8484 for details about our public auto auctions held every other Wednesday at 4 o’clock. Enjoy fantastic steals on cars, trucks, auto parts, and more!
Car Auction HELD EVERY OTHER WEDNESDAY AT 4 P.M. On Property Grounds:
1300 N. Mickley Avenue
Indianapolis, IN 46224