GOING ONCE, GOING TWICE, SOLD FOR….

Buying a car on auction is easy and can be an exciting way to get your next set of wheels. Before you do, heed the following…

For the best chance of success at a car auction, it’s highly advised that you prepare well in advance. This means finding out beforehand which cars will be on auction. Generally, auctions are advertised either in print or online. You can even request or download the list beforehand. Errol Levin, COO of Auction Nation (which sells salvage vehicles) says the process is very easy. “You can either register physically at any of our locations or online via our website.” All you would need, as an SA citizen, is your ID. As a foreign national, you’d need a Traffic Register Certificate and a valid passport.

Motoring journalist and entrepreneur, Vuyi Mpofu, of Driving in Heels, advises that you attend an auction as an observer for the first few times to familiarise yourself with the process. But if you’re still unsure at the auction, put up your hand and ask questions. Some auction houses have staff on-hand to assist or explain things during the bidding. The more auctions you attend, the more experience you will gain.

Top tips for a great car auction experience

Know what you’re buying. There are a lot of cars at an auction, sometimes as many as 160 cars on the day. You have to be very careful what you buy, and look at the vehicle thoroughly. “Know the value of the vehicle you’re interested in before making a bid, so that you don’t overpay,” Mpofu says.

Understand the terminology used at an auction. A lot of vehicles are sold “voetstoots” which simply means “as is”. Vehicles at auction are sold as they are, “so we give the best description we

can on the vehicle (being upfront with what is wrong with the vehicle) but we do not guarantee anything, therefore there’s no legal recourse,” Levin explains.

Inspect the vehicle you’re buying. Mpofu recommends using the inspection day period wisely to check faults on any vehicle you may be interested in, such as rust, dents, worn cables and any other obvious faults. That said, don’t be fooled by superficial scratches either, which can easily be fixed without breaking the bank. Levin suggests bringing someone who is technically minded if you’re a once-off buyer or not technically shrewd. This can be your mechanic or panel beater, who can understand what is wrong with the vehicle and how much it would actually cost to fix it.

Don’t get carried away by ego or emotions. There can be a big hype and a lot of excitement at auctions. Levin advises that you know your budget and stick to it. When the bidding starts, there will be more than a couple of people bidding against you. This may result in you paying way more than you had intended because of the whole hype of the auction. “Be prepared to walk away from a vehicle which does not meet your budget or needs,” Mpofu cautions. Keep in mind the possibility of additional costs when bidding.

With Auction Nation, Levin mentions that all the bids on the vehicle exclude VAT, the seller’s commission (usually 5%), and the admin fee for lost registration.

Have more than one type of car in mind. Mpofu suggests keeping your options open. In the event of someone outbidding you, you should be able to make a bid on a different car, of the same model that you’d like to buy so as to avoid disappointment.