The first step at a public auto auction is for you to do a public registration or dealer registration. While you register, you have a chance review all of the auction rules. It is very important that you understand how the rules work so that you know when to bid, and what condition the vehicles are in. My recommendation is that you arrive at the auction early. This may give you more time to inspect the vehicles before the auction begins.
How to Inspect Cars and RVs at an Auction
A lot of car and RV auctions don’t allow you to actually inspect the vehicle for yourself. But you will be allowed to do a visual inspection. You can do the visual inspection by walking around the car. A lot of times this will help you know whether the car has been involved in an accident.
For the interior inspection of the RV or car, you can open up the trunk, the hood and all of the doors. A lot of times you also be allowed to start the engine. While it is idling, listen for any squeaks or rattles, or anything that might need to be investigated further. Hopefully, everything so far checks out, and you will be able to bid on this vehicle. (When you’re inspecting RVs, make sure to inspect for any leaks, or any signs of mold or mildew on the interior.)
If the opportunity exists, try and take the vehicle on a short test drive. Make sure to go forward and in reverse. You may have to stay on the auction property, but it is a lot better to test drive the vehicle before bidding whenever possible. Also make sure that the brakes work properly.
After inspecting the vehicle and deciding it is something that you want to buy, you can use market value guides and book values to help you determine your target price for acquisition. Make sure that you also include the auction fees, or any contingencies that you’re going to need for fixing or repairing it. Make sure that you know what your target price ranges before entering an auction.
More RV Auction Tips
Usually, a green light means that the person selling the vehicle is going to be somewhat liable for the condition of the vehicle. A red light indicates to the buyer that the vehicle is being sold as is, and you really can’t complain about anything on the vehicle after you buy it. When a vehicle is given with a yellow light, the auctioneer will typically tell you what is wrong with the car or RV, and you need to listen carefully, because after they tell you what is wrong with it, then they are selling the vehicle in as is condition and you won’t have a right to complain about anything they already mentioned was wrong.
The key to winning big at a car auction is to be able to decide what you want to buy, and your target price before arriving. If you know what you are looking for, you will have a lot easier time finding it.
Another thing you do when you go to auction is make sure to listen to the auctioneer. Even though they talk fast, it is important to listen to what they say because they could influence how you bid on a car or RV.
Usually there is a “ring man” that patrols the auction and identifies qualifying bids. Make sure you always know what car is being auctioned so that you can bid on the right one. If you have questions regarding the auction, you can stop the “ring men” patrolling the crowd and ask them. They will have a good idea of what the next qualifying bid will be.
What Type of Inventory is Sold at Auction?
The majority of inventory that is going to be sold at an auction are repossessed RVsand cars. Not only will you be able to buy repossessed vehicles at car and RV auctions, but you will also be able to buy salvaged cars and RVs, and seized vehicles as well.