The simple and obvious answer for why you would want to buy a used car from an auction is price. A car auction is a great place to buy a vehicle for a fraction of what it would cost to buy from a dealer or even a private seller, and at some auctions, there's a tremendous amount of vehicles for sale to choose from too.
How does buying a car at auction work?
- Research cars in advance. With some auctions, you'll have the chance to check out the listings before the auction occurs. ...
- Be flexible. ...
- Know the rules. ...
- Arrive at the auction early. ...
- Bring someone with you. ...
- Stick to your budget. ...
- The car is sold as is. ...
- You may need cash to buy the car.
Is it cheaper to buy a car at an auction?
Generally, car auctions do represent a cheaper way of buying used cars, especially when you compare it to buying private or through a dealer. By purchasing at an auction stage, you're essentially buying your car before any add-on value is attached like it is when you buy from the dealer.12 jun 2021
What percentage does Mecum auction take?
In Person 10%
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Telephone 12%
Internet 12%
Who pays Mecum Commission?
Mecum Auctions pays the seller when payment is received and confirmed from the buyer. In the event of a Wire Transfer, payment may not arrive until the first business day after the auction. Seller checks are then mailed within 5-7 business days.
How do you buy a car at Mecum auction?
You don't have to be a dealer to buy a car at a Mecum auction; just register as a bidder in advance online or on-site at an event and join us with qualification to place bids on whatever catches your eye.
How much does it cost to be a bidder at Mecum Auctions?
If you register online, you can have your bidder credentials mailed to you or printed for on-site pickup. The registration cost online is $150. If you wait to register on-site, the cost is $200. You can register until the auction ends.5 sept 2020
Can the public attend car auctions?
Unless the auction is for trade only, everyone is invited to attend a car auction at a physical auction house. But when it comes to an online auction site, anyone who wishes to take part must register first before bidding.
Why are cars so cheap at auctions?
Vehicles sold at online auto auctions are very cheap compared to those you can buy from dealers. This makes it easier for buyers on a tight budget to purchase the vehicles they need. ... Most of the vehicles sold at auctions usually just have the wear and tear from regular use and in some cases, small scratches and dents.28 nov 2018