I used to work with a guy whose hobby was buying cars at the Repo Depot. He and a friend would split the cost and the friend, who was a mechanic, would fix what needed fixing. My co-worker, who was a very meticulous guy, liked detailing vehicles — it would be sparkling inside when he finished. Then they’d sell the car through a want ad and make a decent sum.
With the budget and loan in place, you should start thinking about the auction’s inventory of cars and vehicles. Moms may need more seats for kids, or business owners may need trucks for hauling and transportation. Be sure to inspect the inventory closely. Do not be afraid to start the ignition, test the heating and cooling, check the seat controls, and more.
All Roads Lead to Clinton Auto Auction.... IL State Police / Chicago PD Drug Seized Personal Property AuctionAuction to be held at Clinton Auto Auction - 9750 Revere Rd. Clinton, IL 61727 Auction Dates:Saturday February 2, 2019Saturday February 16, 2019Saturday March 2, 2019Saturday March 16, 2019 All Auctions will commence at 12:30 PM Offering for auction will be more than 200 lots of Drug [ View Full Listing ]
Auction Nation brings the thrill and convenience of public auto auctions right to your computer with our Weekly Online Public Auto Auction! Every week we sell a great selection of cars, trucks, SUVs, vans, trailers, watercraft, all-terrain vehicles, motorcycles and much more! Our Auctions are open to the public so anyone can bid! Our transactions are the fastest in the industry and most titles are ready the day after the auction ends!
Regardless of their mileage or whether they’re running properly or not, most vehicles at auctions tend to get labeled “as is” in order to prevent any headaches for the auction house down the line. So don’t go in expecting warranties or the ability to sue someone for selling you a total piece of crap. Auctions are like gambling in a lot of ways, and the only way to win is to pay to play.
"There are two types of public auctions," explains Steven Lang, who runs a used car dealership in the Atlanta area and once owned a dealer auction (not open to the public). "There are government auctions and there are public auctions." Both are full of potential pitfalls. Here's a quick rundown on both and 10 tips for getting the most out of either. That is, if you dare to venture into the auction pit.
Watch the mood and trend of the crowd in the bidding before your vehicle comes up for sale. I've noticed that at auctions there are frugal crowds and there are spendy crowds. I don't know why this is. I've seen furniture, tools, and kitchen cabinets sell for 10% of retail. But I've also seen them sell at what you'd pay for full retail in a store at the same auction house on different days. There doesn't seem to be any rhyme or reason to it. Always be prepared to walk away. There'll be another auction in a week or two.
General Disclaimer: Get Rich Slowly is an independent website managed by J.D. Roth, who is not a trained financial expert. His knowledge comes from the school of hard knocks. He does his best to provide accurate, useful info, but makes no guarantee that all readers will achieve the same level of success. If you have questions, consult a trained professional.
The majority of the vehicles found at local auctions will need some work done to them in order to be deemed “road-worthy.” Knowing this before you ever set foot on the grounds is a major part of deciding if this is the right way for you to source an automobile. A low bid on a crappy car has the potential to leave you stranded on the side of the road, so if you aren’t a savvy DIY wrencher, you’d better have one hell of a trustworthy mechanic.
You will be required to bring all of your paperwork (Bill of Sale/Receipt and Dealers License, if needed), Identification, and gate fee of $30 to your assigned pickup date and time. Important note: If you are sending someone else to pick up your vehicle (including a shipping company), you must call Corona’s Auto Parts and Towing to inform them of who will be picking up the vehicle, and you must send a notarized letter of authorization that the individual picking up the vehicle must have with him/her upon pickup.
Attending an inspection period is also a good opportunity to view the vast array of vehicles available for auction. A potential buyer can explore his options and see the starting prices of the cars. There are many choices for the public regarding models, colors, and types of cars including SUVs, coupes, sedans, trucks, and so on. An added benefit is that these auctions are held regularly and can even be found locally. The information is available both online and in local and national newspapers.