Thursday, March 20, 2008

Three Rules to Bid By

If there are three pieces of essential advice I can impart to you before you set off to find your vehicle amongst the world of car auctions, they would be these:

1. Patience – You won’t find what you want at every online auction every day. Sometimes, the selections just aren’t as good. But it’s a cycle. You have to stay vigilant and check back often. Make a habit out of it. Every other day, drop in on your chosen auction site or, even better, sites, and commence a quick search of the website for the auto or autos that you’ve pegged your targets. Be persistent and consistent. The auction base is a constantly churning body of vehicles – make sure you do yourself a favor and use as many auction sites as you can afford and check them as often as possible. It’s a small price to pay for eventually snaring your dream car for 80% off of market value! So – remember THAT – that paying $40 to use an auction site is well worth it when you land that 2006 BMW 3-Series for $3,000! It will be the best money you ever invested.

2. Stay with proven sites - I’ve said this before and I will say it again here: stick to proven and upstanding websites that you can trust. I’ve tried most of them out there, and I recommend four listed on my blog here. We’ve all been swindled, one way or another, big and small, during our lives. It’s not a good feeling. Don’t get that feeling on your car search. Stay the four sites I’ve listed below and trust that your car auction search is in the best hands possible. All of these sites have been up and running for several years and have proven themselves to be legitimate and dependable sources for repo auctioned cars.

3. Set a price limit - Get your goal price and stick to it. Do your research and set a limit for the price you’ll pay for your car. If the bidding goes over that, stop. No exceptions. This way, you won’t get emotionally tied to the auction process, which can have dangerous repercussions for your pocket book—and the whole point of this is to save and make a lot of money, right!? So, with a preset limit, your choice to bid or abstain should be automatic. If the price is under your line, you bid. If it’s over, you start searching for a new auction. Trust me, nothing feels so good as when you stick to your guns, do a diligent search and find the exact car you want for a price below your limit. Now let’s get bidding!

Click here to return to main page and the 4 recommended auction sites.