Welcome Back to Day 5 of your "Step-By-Step Auto Auctions School"
- Day 1 - Covered a full introduction to all aspects of auto auctions. From registering to successful settlement.
- Day 2 - Covered the important matters of full vehicle history, titles and condition checks.
- Day 3 - Covered how to secure the best price at an auto auction.
- Day 4 - Covered important aspects of On-line Government auctions.
If you missed signing up for your discounted Gov-Auctions membership join here now!
Day 5 - Warranties, Insurances, Financing and Summary
You final day of car auction school!We will summarize the important lessons learnt, But importantly we will also look at important questions such as how you can obtain an extended warrantyas well as the matters of car insurance and favourable financing.
Extended Used Car Warranty up to 150,000 miles
Buying a vehicle at an auction often means buying it "as is". Any vehicle factory warranty is usually transferable but you need to confirm this with the auction house. Remember that most vehicles being sold at any auction are close to running out of their factory warranty since most vehicles are 2-3 years old. Since you do not get a "normal" dealer one or two months warranty, it is highly recommended that you invest the small sum for an extended warranty for piece of mind over the next few months. You may still use the same sources as the dealers do just at a much lower rate when cutting out the middle man.
Online Car Insurance - Free & Fast Quotes
You are responsible for your vehicle as soon as you have settled the purchase at the auction. You therefore need to have auto insurance before you drive the vehicle home from the auction. Our recommendation is that you look into your insurance options before you start bidding so that you know what type of cover you can have and, importantly, at what price! Remember that it is illegal in most US states to not have basic insurance cover.
Use online sources to research your insurance options. To get the most precise pricing, be accurate about the information you enter. Do this for each source to enable you to compare them properly. Get quotes from as many sites as possible to get your best price, then when you are ready to buy you will know where to purchase your insurance.
Remember that online quotes are almost always the same product you can buy over the phone but with no broker in between. So in most cases you will save money obtaining your initial quote online. You should request a free quote for any vehicle type you are planning to look at and /or bid for prior to auction day so that you know what to expect to pay to have your new vehicle insured.
Finance Online and Save money
Some auctions offer financing, some don't, and our recommendation is to have your finances arranged well before you start bidding on any vehicle at an auction. You can enquire about the financing options available from the auction house prior to bidding. We suggest doing this on inspection day or via a phone call. We also recommend you investigate securing your vehicle finance via online services. The are many advantages, the main one being lower interest rates for you!
Once you decide on a finance company, securing finance can be as simple as going to the lender's website to fill out an online application. Some lenders have the capability of returning an instant decision for internet applications, making the process almost effortless. Some lenders offer specials online, which are unadvertised loan interest rates only available to online applicants. Additionally, some websites will track interest rates and send you an automated message via email when rates drop.
Researching online for finance can both save you a lot of time and ensure that you are getting the best deal possible. This is often not achieveable when obtaining financing through a dealership. At a dealership, you are forced to take whatever loan the dealership's bank offers. Many purchasers at auto auctions appreciate this flexibility, without having a car dealer pushing his/her finance provider.
Gov-Auctions.org has a recommended free service which allows you to receive an almost instant free and no obligation loan quote for any vehicle. You simply enter your information on their secure and confidential online form, and they will instantly try to match you with a lender or finance dealer that is ready to lend you money! They are also well known for accepting borrowers with poor credit ratings.
Follow this link for our free online quotation forms and loan calculators.
Summary
We trust you feel encouraged and more confident by the prospect of attending a live or online government auto auction sometime in the near future.
A brief summary of the four most important points that we have covered in your 5-day Auction School;
- Sign up with a respectable registry, like Gov-Auctions.org - Which you have already done!
- Do your research of the vehicle you are interested in and on the auction you plan to attend.
- Know the value, condition and history of the vehicle(s) you are interested in.
- Have your finance and insurance quotes organised prior to bidding.
That's it! - Have fun and feel confidentthat you are indeed ready to attend an auto auction and buy the car you want at a price which is likely to be far below what you can achieve in any car dealers show room. Thank you for your time and interest in government auctions.
If you feel that anything in this information is incorrect or something should be added or removed we welcome and appreciate your feedback! Please contact us at info@gov-auctions.org
If you have not already registered up for a membership with Gov-Auctions.org do it now at the discounted one time fee of only $39.95. You can Join Here.
