Auctions 101: Buyer, be prepared.

Auctions are exciting and can be an excellent way for consumers to both learn about and purchase a favorite make and model. These fast-paced events, however, also require careful preparation. Here are a few pointers for your consideration:

1. Get your personal finances in order to avoid buyer’s remorse, such as a signed bank letter and a predetermined budget. Don’t forget to include any taxes, buyer’s premium, and shipping in your overall costs. Pre-qualifying for Premier’s Simple Lease is a sound option for those who wish to preserve their capital at auction.

2. Do your homework – study the catalogue for information about the car you wish to buy. Know the car’s value and what you can personally afford. Sign up for a service that can find and list a vehicle’s past history.

3. Ask questions at the event before the bidding starts. Enlist the help of a licensed appraiser and a mechanic to judge the value and quality of the car. Check all paperwork carefully and make sure the title of ownership is on site. Get to the auction early to beat the crowds and avoid distractions.

4. Remember not to get too caught up in the competition when bidding is underway. Keep a cool head and your car is within reach.

We welcome your questions. Contact us toll free, 877.973.7700.