30 Jun Top Tips to Avoid Storage Fees at Auto Auctions
(Buying vehicles from an auction; The EASY way!)
We all know how convenient buying a car from an auto auction can be. We hear things about how cheap cars are, and how with a little bit of work you can have a vehicle that is worth more than what you paid for it. With these thoughts in mind we assume that with a good mechanic on call we can strike gold. This can be true in some situations, but there are also flaws to the process of buying cars at an auction. Most general buyers are unaware of the right way to purchase and, it might end up costing a little bit more than you expected due to hidden fees. Most notably, storage fees will increase the cost. These can be especially high if the auto auction company has little room for inventory.
When getting a car from an auto auction, if you don’t reside in the area or city of the purchase, chances are that you might require a car shipping service to transport your vehicle. These services are the safer and most convenient way to transport your car.
Nevertheless, car auctions give on average two business days to pick up the car and one day to pay the amount that the car was bought for in full (these conditions may vary depending on the branch). If you can’t pay or pick up your car within the given time, fees and extra charges will be placed. This can be scary for someone who just bought a car and now has to spend even more money to transport it to a mechanic or to his/her home.
Here are a few ways you can avoid a situation like this and have a great purchasing experience with auto auctions.
Make sure you have the funds for the purchase
Many people engage on buying a car from auto auctions without having enough funds to pay for it. Make sure you have all the funds and that you pay the total amount of the car, otherwise the company won’t let your car leave. Having the money up front ahead of time will help you give yourself a budget when bidding so that you don’t end up spending more than you wanted and regretting it later. Keep in mind that you will need some extra money set aside for transportation, to fix mechanical issues, and tax, tag fees. Having these things organized ahead of time will ensure a smooth buying process.
Notify with anticipation to your car shipping company
Usually, car shipping companies don’t have immediate availability. If you know there is a chance that you will be purchasing a car from an auction that needs to be transported try to gather as much information as you can on the vehicle you have in mind. Call the car shipping company ahead of time and share the information you have collected. Even if you don’t know the exact make or model of the car you will buy, knowing whether it will be a van, truck, compact car or etc. will help the company give you a better estimate. Also be aware that because you do not have all of the details at the time of call, the estimate may not be the same as the actual cost once you are able to provide more concrete details.
Confirm and ship
Once the funds are confirmed, and our car is paid for in full, the vehicle will be released and you are ready to finally ship your car on time, preventing any extra storage fees.
These 3 steps will help you ease through the car buying process at an auction. Vehicle transport companies and auctions deal with these situations on a daily basis so do not feel uneasy about only knowing bits and pieces of information about what car you hope to buy. Anything can happen at an auction! That is what makes them fun. Keep the details in mind, be prepared and you will surely strike gold.