Many people buy their cars at auctions with the goal of saving tons of money. Certainly at most car auctions, especially the police auctions, you can buy a car dirt cheap. However, before you leave the auction, make sure you get CARCHEX warranty insurance.
Many people buy their cars at auctions with the goal of saving tons of money. Certainly at most car auctions, especially the police auctions, you can buy a car dirt cheap. However, before you leave the auction, make sure you get CARCHEX warranty insurance. You may think you got a great car for pennies on the dollar, but you may have just inherited a massive headache.
Car Warranties are not Required from Auctioneers
The first thing you need to know is that impound auctions do not have to provide car warranties on the cars they sell. In fact, they do not have to provide any guarantees of any sort. Just like if you bought a car from Craigslist or from a friend, the cars are considered ?as is.? The only real difference between impound auctions and buying from an owner is that there is no question of if the title is clear in a police auction.
Naturally, that means that whatever problems the car has or is due to have are completely on you to deal with. If you even so much as start the engine and the car has a problem before you get a car warranty, any repairs or replacement parts are completely out of your pocket. Lemons are all too common at these auctions, too.
The Risks of Buying Cars from Impound Auctions
Even assuming that you ran vehicle history reports on all the cars you plan on bidding on at an impound auction, you really can?t be too sure of what you will be getting at impound auctions. While sitting in the impound lot or even at the auction lot (assuming that it?s a different place than the impound lot), there are a lot of things that can go wrong with a car that you may not see on a report.
First of all, it is bad for cars to simply sit for too long without being driven. The oil can expire, the gasoline can go bad and many other things can go wrong with the fluids, injectors and rubber parts. This alone is a very good reason to get a warranty before you leave the lot, and it?s also why it?s a good rule of thumb to immediately get your fluids serviced and get the car inspected when you buy it.
Another thing to keep in mind is that it sometimes happens that the previous owners will be at the auction. You can bet that they are not happy that someone else will get their former car. What you definitely should not bank on is that the auction?s security would keep them from sabotaging your car. There are ways that people can sabotage cars that can completely go ?under the radar? of security officers.
In the end, when it comes to government impound and surplus auctions, the best advice is ?buyer beware.? If you still intend to buy a car at one of these auctions, make sure that you get CARCHEX warranty insurance and head straight to the shop for maintenance when you leave.
Source: http://blog.carchex.com/get-carchex-warranty-insurance-before-leaving-the-police-auction/
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