During marriage, there comes a point in time when a couple decides on selling their car for some urgent or important reason. Although, not having a car and having to use public transport may end up just as cost intensive as owning a car. Still, if selling a car is the fastest way to have instant access to cash needed to pay for a major expense, such as hospitalization bills, mounting credit card bills, or as down payment for a brand new car, they do so either through a used car dealer or by way of an auctioneer.
Choosing to Sell via Private Deals, Through Used-Car Dealers or A Via an Auction Center
Putting up a car for sale by way of a private deals may take longer, with most buyers trying to haggle for the lowest price possible. Unlike in an auction house, where interested buyers place bids that can win them ownership of a car sold “as is”. Used-car dealers, on the other hand, will immediately put a price to your vehicle the moment you decide to sell it; but know beforehand that they will be buying your car based on the prices commanded by vehicles in auction sales.
Now if you are selling via the auction route, the amount of cash the sale generates still depends on your car’s viability. At the auction lot, it will be lined up with other cars. Some of which came from a bank’s lot of repossessed cars or from a police precinct’s inventory of impounded vehicles, or include government service-cars due for replacements. This means there are some competition issues involved in the selling-by auction process.
Also, you will be asked to pay a processing fee, in connection with pre-selling activities that auctioneers work on before putting a vehicle on display in their catalogue, and on the auction floor. In most cases, the fee will just be deducted from the money you receive from the sale of your car. Should you change your mind about selling the car, you will still have to pay the fee,
In which case, assess if the fee is reasonable by knowing the pre selling activities an auctioneer does as part of selling services.
Usual Preseĺling Activities Carried Out by Auctioneers
Buyers flocking to the auction house on the day the vehicles are up for bidding need to have an idea about the conditions of the vehicle and the starting bid price. If you reside somewhere in the vicinity of Spokane, WA, you will find a number of spokane auto auction businesses that help sell vehicles in exchange for a reasonable fee.
Preparation of a Condition Report
Auctioneers prepare a Condition Report once they check-in a car, SUV, RV, truck, motorcycle or even a boat, a heavy equipment or snowmobile into their lot. It is important that the auctioneer hires only certified and trained professionals to write Condition Reports, since would-be bidders are inclined to rely on the information contained therein. Bidding and buying decisions depend on the reconditioning work recommended in the Condition Report and the estimated cost of related repairs.
Preview Day and Catalogues
Auction services may include holding a Preview Day before your consigned vehicle runs for auction on actual bidding day. Some others offer catalogues, with which you can view other transport vehicles to which your car will compete come auction day.
Marketing and Advertising
Auctioneers also use marketing strategies and advertising campaigns to make every auction day successful. Successful means having a considerable number of sellers and buyers in attendance to compete with the live bidding process. Otherwise, poor attendance will leave the sale of your vehicle to a mere handful of bidders out to snatch cars at bargain prices. Have an awareness that most used-car dealers acquire their inventory from auction sales, by buying them wholesale.