The final bidding price of the auction is determined by competition with other bidders. Try not to get caught up in the excitement of the auction. You may even want to consider attending an auction or two prior to bidding on the car you want to get a feel for the process.
If you are the winning bidder, you will need to settle the payment with the transaction clerk. You can use cash, check or credit to settle the bid. Sometimes the Auction Company will offer financing. Terms and settlement conditions are listed in the bidding instructions. Read and fully understand the bidding conditions prior to making any bids.
After you complete your purchase, you will receive an invoice that will allow you to drive or ship your new car to your home. The Auction Company will guarantee clean title to your new car and will aid you in making shipping arrangements if you request.
Although the auction process is intimidating at first, it is well worth the trouble since you can save thousands purchasing repossessed autos though auctions.
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ABOUT THE AUTHOR
Howard Young is a freelance writer and car buff. He enjoys driving his BMW 530i.