Might go to an auction for the first time, any advice?

[Golaboots]

I've been looking through various auction hoses stock of cars and am wondering at going and 'taking a punt' to get a car suitable for the cash for car scheme at work.

It strikes me that buying something within manufacturers warranty you've got far less to worry about, assumuing proper servicing etc has been followed.

I'm tempted to go and get a typical boring motorway mile muncher thats been returned mid lease.
What are other people's experience of this type of thing. Do you see much of a saving? Are there hidden risks?

Thanks

[300bhp/ton]

Golaboots said:

I've been looking through various auction hoses stock of cars and am wondering at going and 'taking a punt' to get a car suitable for the cash for car scheme at work.

It strikes me that buying something within manufacturers warranty you've got far less to worry about, assumuing proper servicing etc has been followed.

I'm tempted to go and get a typical boring motorway mile muncher thats been returned mid lease.
What are other people's experience of this type of thing. Do you see much of a saving? Are there hidden risks?

Thanks

Some places you need a registered account, you can't just turn up and bid. So check this first.

Also if its your first time, part of me says. Take no money what so ever. Just go and see what it's about and what its like.

If you do take money, be very strict with yourself and don't get carried away. It's amazing how much people will pay over the odds for cars at an auction sometimes.

Take someone with you, a second voice of reason might be needed to prevent you doing something daft.

And remember it is a bit of a gamble, traders buying stock like this are rarely concerned on how good the car will be to own for a few years. They just want to buy it at the right price to then sell it on for a profit. This means you sometimes get some cracking deals, but you can just as easily buy a wreck of a car and you won't know it until you jump in it to drive it home.

There are pretty much no returns and no refunds, so bear this in mind.

Take money for petrol (or a can) as they never usually have any fuel in them.

Learn what terms like "guaranteed mileage" actually mean.

Lastly do employ common sense and you should be fine.

[louiebaby]

I went to a couple as an observer. I was planning to buy something at some point, but that hasn't happened yet. I think the plan of "Go a couple of times to see how it works" is good advice, as mentioned above.