You may or may not have had the chance to attend a car auction before. Either way, they are a place to get an excellent deal on a great car. However, there are many myths associated with car auctions that could possibly hamper your next car auction buying experience. I will clear of a few of them below.
Myth: You need a dealer's license to attend a car auction.
Truth: Many auctions of the past required you to have a dealer's license, but this is not the case any more. There are plenty of public, police and government car auctions you can attend without a dealer's license.
Myth: There are only lemons and junker cars found at car auctions.
Truth: While you might find you occasional lemon, most cars at an auction are in good running condition. You should remember to bring a mechanic with you to check under the hood to be on the safe side though.
Myth: You don't have to pay for the car you bid on if you change your mind or don't have enough money to pay for it.
Truth: Although it is very easy to bid on cars at an auction, don't take it lightly because your bid is considered a legally binding contract. So, if you are the winning bidder, you are expected to pay for what you bid on, sometimes in full.
Myth: You have to be a car dealer to know where to find a car auction in your city.
Truth: Car auctions take place all around the country and their location is not kept secret. You can find car auctions at towing yards, in your local newspaper or by asking you police department when there next auction will be taking place. But the easiest way to find all of the car auction sites near your home is to buy a list that will tell you about all of the auctions in your city.