The first thing to remember is that although they are called damaged car auctions it does not mean that the cars are damaged beyond repair nor that they are not drivable. Sometimes there are only a few minor problems and the vehicle can be easily fixed. When you are Silent Auctions purchasing vehicles from damaged car auctions you have the choice and indeed are allowed to inspect the vehicle prior to placing a bid. I would suggest that you do this to prevent purchasing a problem that is larger than you expect or something that just can’t be fixed. If you are not mechanically minded it’s a good idea to take along someone that knows a bit about cars to get a second opinion.
Most damaged car auctions are held by government approved auctioneers. The intention of the government is (believe it or not) to not make a profit on these damaged vehicles. This means bidding is free to start at ridiculously low prices. This is good news for buyers and sometimes means that a bidder can get these cars for 95% off the market value price.
The auction process is so easy and professional. You get reliable authentic documents, vehicle reports and you also have a chance to inspect the vehicle thoroughly prior to bidding. The inspection periods can be the day before or a few hours before the auction starts. As I mentioned, the basic recommendation is that you bring along someone like a mechanic to help you rule out major problems. No amount of saving (not even 95% off market value) can help if the car is not what you expected and indeed is a lemon or damaged beyond reasonable repair. In addition rust can be one of those silent but deadly traits of a damaged car that is why I recommend that you have the car thoroughly inspected yourself or have a professional on hand to double check the condition of the whole vehicle, underneath the chassis, inside the guards and under the hood.
Damaged car auctions held over the Internet are a great convenience to many people. The best thing is you can choose the car from the pictures, buy it through the on-line bidding system then return the vehicle if there are any issues that don’t match the description or your expectations. If they state that the vehicle has something wrong with it for example like rust in the hood, you can’t return the vehicle because of that rust as they have already stated that it had rust in the description. If however you find that the vehicle has issues not disclosed in the auction listing then you are free to return it for a full refund in most cases.
Again I must reinforce the word damaged is nothing to be concerned over. You can get very slight, minor defects in vehicles which are then shipped off to the damaged cars auctions. This is a great chance to take home an almost new car and fix it yourself or have it done at the repair shop for such a low cost in comparison to purchasing the vehicle in perfect order.
What if I want to sell these cars?
Reselling these damaged vehicles is a great idea and easy way to make some good money. If you do choose to resell, it is best to look at the overall condition of the vehicle, sometimes it is best to resell the damaged vehicle as parts, the parts can be sold individually making you more money than selling the car as a whole. Take care in removing the parts because the loss of a nut or bolt could lead to a part being almost valueless, it is best to know what you are doing or at the very least be methodical in your approach. Damaged cars and car parts are advertised locally in the newspaper and on-line every day. If you take the time to sell these cars you could double or triple your initial outlay quickly and easily. Make sure that you check out your local laws and tax information in regards to these kinds of sales.
Damaged car auctions are not always easy to find. I am often asked about the location, dates and times of these highly sort after auctions. Providing people with this valuable information is a service that I conduct on a regular basis. These damaged car auctions are not advertised nor are they accessed easily by the general public. They have been kept somewhat of a secret by car dealers and savvy individuals who use them to purchase cars at ridiculous prices and then profit by reselling the vehicle.