If you’ve been poking around our blog, you’ve seen a couple of our past articles about car auctions. We’ve given you some advice on what to look for, tips on buying a car at an auction and a ton of other information you should check out.
Even with all that information out there, we still get a lot of questions on car auctions. Maybe it’s because car auctions aren’t such a mainstream way to buy cars as going to a dealership, maybe because there’s a lot of bad stories out there about cars in poor shape bought at auction: Who knows?
We’re going to clear up some confusion and shed a little light on this mysterious subject so that you can feel more comfortable looking at car auctions as a viable way to purchase a car. If you don’t know, ASAP Towing routinely holds car auctions, so we have first-hand experience with what goes on at car auctions.
If you don’t see your question here, make sure to give us a call, and we’ll be more than happy to answer any additional questions about car auctions you might have.
- What is a public car auction?
A public car auction is where dealers and consumers bid on cars for sale. Like any other auction, cars are started at a certain price and audience members bid on a higher price to purchase the car. This goes on until no one will pay any higher for the car and a winner is selected.
Normally, car auctions require the money to be paid at the auction to claim the car. Some car auctions offer financing so that you can make payments on the car you purchase. Always check with the officials beforehand.
- Do auction cars come with titles?
Unless otherwise noted in the vehicle description you get ahead of time, all cars are sold with titles.
- Can I sell my car at an auction?
Depending on the situation, yes. Some vehicles have to be turned over to the company first, while others allow you to auction your car after inspections on the lot. It all depends on who is running the show.
- Are cars sold at auctions cheap?
Well, cheap is a loose term. I will tell you that cars sold at auction generally sell for 30% to 60% of the Kelley Blue Book Retail Price, so that can easily be a couple thousand dollars saved.
- Are car auctions cash only?
Again, this is one of those things where it just depends on the people running the auction. Normally, car auctions require at least a down payment on the spot of a few hundred dollars to assure them you’re really going to buy the car. After that is settled, paying for the rest of your bid can be handled in other ways. The golden rule is always talk to the company hosting the auction ahead of time so you have a plan.
Car Auctionsin Jacksonville, St Augustine, Orange Park & the Beach
ASAP Towing has frequent car auctions. We buy/sell all kinds of used cars.