When buying repossessed cars in auction it’s very important to remember the following:
1) No Warranty
Vehicles sold in auction are typically sold with no warranty. Repossessed sales mean that if something goes wrong with the car, it is you will have to pay up to repair the car.
2) Repossessed Cars Are Sold “As Is”
When you buy a repossessed car, the car is sold as it appears. It is down to you to properly check the car.
3) No Test Drive
Before any repossessed auctions, there is an opportunity to inspect all cars, but it’s important to remember that you will get to hear the car running, but there is no chance of a test drive.
4) No Refund
After the sale is complete, you are unable to request a refund under normal circumstances.
5) You Can Inspect The Car
Before the auction, you can look at the cars which will give you a good opportunity to assess the state of the vehicle. Check the locks to see if someone may have tampered with the car in the past. Check bodywork and paintwork thoroughly, rough spots or colour changes indicate the car has been in a previous accident. Ideally take a mechanic with you. They will be able to inspect the car properly.
6) Bidding
When bidding for repossessed cars have a maximum price and don’t exceed this amount. Do Not be drawn into bidding wars – sometimes the car is not to be yours. Don’t let your emotions carry you away.
7) Payment Method
Find out what payment methods are accepted at auction before you go.
Fees
When buying repossessed cars at auction, there are always fees which need to be paid following a purchase. Don’t forget about these as these will added to your accepted biid offer. Each auction charges its own fees so look to get the full breakdown from an auctioneer before the auction starts.
Read our guide on buying repossessed cars at auction.
Alternatively, visit the repossessed cars uk homepage.
