Car Auctions 101 Jacksonville FL

So you want to try your luck at a car auction? There are two basic types of auctions: Those open only to licensed car dealers, and those that are open to the public - including dealers.

Auctions open to the public are often best suited, in our opinion, for people who truly know cars and who know how to fix them or have access to a low-cost maintenance facility. At most public auctions you can walk around the car, open the doors, look inside, and open the hood to examine the engine; but you will not be allowed to drive the vehicle.

Full payment is required at the time of purchase, all sales are final, and the autos come "as is," which means there is no guarantee or warranty. While there are some good deals to be had, keep in mind that this is a high-risk proposition.

Who Holds Public Auctions?

1. The General Services Administration
2. The U.S. Customs Service
3. The IRS
4. The U.S. Postal Service
5. Your local police department (state, county and city)

To find out what auctions are being held in your area, check your local newspaper and television ads.

What You Need to Know

1. Find out when they are holding the pre-sale inspection period and take advantage of it.

2. Inquire about the terms of the sale.

• Do they require a deposit before permitting you to bid?
• How will they accept payment? Cashier checks? Credit card? Cash?

3. Determine how you will get the car home. Be wary of people selling temporary registrations at auctions. In most cases, you're going to have to tow or flat-bed the car off the auction lot. Generally, you'll find various tow services offered at the lot....