Buyers Info

The Role of Vehicle Auctions

The auction sector has, for many years, been a major contributory factor to the success of the used car trade in the UK. Auctions provide an important wholesale function to the trade, selling in excess of one million vehicles each year. They provide a fast and cost-effective option for selling vehicles, providing buyers with ready access to large numbers of cars. Vehicles are drawn from a wide variety of sources including fleet and leasing companies, local authorities and dealer part exchanges. Auctions act as agents, using their skill and expertise to bring buyer and seller together. Although primarily fulfilling a trade function many sales are open to the general public. This page is intended to provide guidance to private buyers at auction.

Why buy from auction?

Over the last ten years car auctions have become much more popular with private buyers as organizations such as the Society of Motor Auctions have sought to raise the profile of the sector. There’s no better way to save money on the price of a car and it’s great fun and surprisingly simple to take part. Auctions offer a large selection of vehicles to suit everyone’s budget. Often these are well maintained ex company cars complete with full service history. And for the convenience of the buyer East Anglian Motor Auctions segregate different vehicles into specific types of auction sale.

It can also be safer than buying privately where the legal redress is minimal. Vehicles at auction are checked with Experian’s Car Data Check to seek to ensure that good title is being passed and that there are no outstanding financial agreements against them.

Tips for buying at auction

1. Arrive at the auction in good time and check out the vehicles in the compound to see which meet your requirements. Always try to give yourself a choice of vehicles.

2. Go with a knowledgeable friend if you have little product knowledge. There is not much time to check the car and no road test is possible prior to purchase.

3. Check the auction’s terms and conditions of trade as these may vary between different auctions. Some companies read out a synopsis of the main conditions and auction procedures prior to each auction.

4. Decide in advance how much you are prepared to pay and remember to take the buyer’s premium or fee into account.

5. Never bid over your budgeted amount – there will be plenty of other cars from which you can choose. Buy a model you know, since you will need to make an on the spot decision. You will usually be able to view cars beforehand but can examine the engine only when a car is started up and driven into the auction area.

6. Read the notice on the windscreen. All the relevant information will be on it. Year of manufacture, make, model, if there is any MOT or road tax.

7. Auctioneers do not always spot unfamiliar bidders so make sure that your bid is noticed.

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