Debunking Myths About Car Auctions

Debunking Myths About Car Auctions

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What are common myths about car auctions?

  1. Only wrecked or damaged cars are sold
  2. Not a good option for first-time used car buyers
  3. Salvaged cars can’t be repaired
  4. All cars are sold at very low prices
  5. Moves very fast with not enough time to look
  6. Not getting what you expected

 

It is without a doubt that car auctions in the Philippines are one of the places where car enthusiasts and first-time car buyers go to in search of great deals with a wide variety of types and brands. However, there are still some people convoluted with misconceptions on the industry.

It is important to remove stigmas and clear the doubts that plague buyers who are interested in a specific vehicle. This gives them a chance to participate in more car auctions in the future. Let’s take a look at some of the most common myths and debunk them so you’ll have a clearer picture of what exactly to expect.

 

Only Wrecked or Damaged Cars Are Sold

Only Wrecked or Damaged Cars Are Sold

Most car auctions sell all types and brands of used cars, however, not all of them are damaged or wrecked cars. Car auctions offer classic cars, impounded vehicles, repossessed cars, and clean title automobiles too.

There are auctions specifically dedicated to damaged cars that are sold in shops for rebuilding and spare parts. When in doubt, you can always ask for a history report regarding the vehicle you’re planning to bid for. Make sure it has all the necessary details.

 

Not a Good Option for First Time Used Car Buyers

Another myth is that most buy and sell car auctions are not good for first-time buyers because of their intimidating and highly competitive nature. The truth is that the auction process, whether live or online, is simple and easy for both first-timers and experienced bidders.

A reputable auction company knows that the only way to survive in the competitive market is to make the process easy and simple for beginner bidders by providing comprehensive accommodations for any participant queries and even allowing offers from public buyers without having to attend. Today, most online car auction websites are user-friendly, have an FAQ section, and even customer support departments to resolve any inquiries from the bidders.

 

Salvaged Cars Can’t Be Repaired

Salvaged Cars Can’t Be Repaired

Another common myth among interested buyers is that the vehicles sold in car auctions are beyond repair and usually not qualified for insurance. While it is true that many of these vehicles need to have major repairs before they can be safely driven again, the condition of the salvage cars ultimately depends on the degree of damage.

Some theft-recovered cars are available in good condition and can be your best bet. If you’re planning to buy a flood-damaged car or cars damaged from natural calamity, you need to execute extra efforts by conducting thorough inspections to get them back in good use. You can find a number of great vehicles even with salvaged titles that only need a few patches and upgrades before hitting the road again.

 

All Cars Are Sold at Very Low Prices

Most places that buy and sell cars offer great deals on vehicles that you may be planning to buy. While you can save money at a public car auction, most places will place minimum reserved prices on a particular car. A good thing about car auctions is that the prices tend to be much lower than one might usually pay at a dealership. The key here is to remember to always inspect the vehicle you are interested in buying as thoroughly as possible and place your bid on what you perceive the value to be.

 

Moves Very Fast with Not Enough Time to Look

Moves Very Fast with Not Enough Time to Look

A typical misconception that plagues car auctions is that the process of going through each vehicle is too quick and insubstantial. But in actuality, most car auctions allow people to come early and look at the cars hours before the auction starts.

It is very important for every first-time and experienced car bidder to take this opportunity to check out the vehicles of the auction. To avoid future disappointments, never arrive late at a car auction or hastily select and bid on a car that you know little about.

 

Not Getting What You Expected

When you are at a quality auction, the administrators can help you find and bid on the vehicles. You don’t have to settle for less than what you want. If you don’t see the vehicle that you particularly like, you can always skip it and wait for the next vehicle to be showcased. You should never gamble yourself into buying a car without conducting any research into the vehicle you may potentially choose.

 

Key Takeaway

Despite the fact that many of these myths are still around and circulating, car auctions in the Philippines are still one of the best places to look for vehicles at the best price and with great deals among different brands.

No matter what you want to buy, a classic, luxury or any other type of car, there is a high chance that you may find it all at a car auction, whether through public or online platforms. A reminder is to always do your research before buying the desired vehicle to avoid disappointments in the near future. With that said, attending car auctions can be fun even if you don’t end up buying a car.