I remember when my sister and brother-in-law decided to lease a new Ford Fusion Hybrid in 2015.
As strictly a used-car owner, I envied how shiny and clean it was.
It was quiet, complete with the latest technology and great on gas.
The only downside, in my opinion, was its lease price of $390 a month.
Four years earlier, Id only paid $10 morefor an entire car.
Thats right, I bought a car for 400 bucks.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
But if youre careful, you might score a serious deal like I did.
When we got the notice about the deal, I honestly didnt give it much thought.
It was my baby.
It was dependable and got me where I needed to go.
I had never given a car auction a serious thought.
I chose a fairly low bid of $300 on the Cavalier, thinking Id never win.
I upped my bid by $100 and was geeked to find out Id actually won the thing.
Now, I consider myself pretty darn lucky.
Not only was the initial cost low, but the car turned out to be a gem.
It was immobile when I purchased it, but all it needed was a new battery and spark plugs.
The mileage was low, and it had air conditioning the AC on my Lexus had stopped working.
The Cavalier lasted a good three years before it was totaled in a hit-and-run accident.
Had I not been rear-ended, I would have gotten more years out of it.
Could You Try Buying at a Car Auction?
She recommends seeing how the vehicle runs in advance of placing a bid.
If they allow you to test-drive, definitely take advantage of that, Gerjes said.
Thats the first thing I tell people.
Checking the value of the car beforehand is another essential task, Gerjes said.
Here are a few pieces of advice from my personal experience of buying a car at auction.
Dont ask me about the difference between a catalytic converter and a carburetor.
Im not going to know my transmission is going bad by how my cars running.
I also had family members I could call on should a problem arise.
Some car auctions also offer limited-time guarantees on certain aspects of the cars condition.
Generally, cars sold at auction are there for a reason.
Dont forget to consider towing costs if you cant drive the vehicle off the lot.
I bought my car with the mindset that it might not last very long.
This is probably going to be my No.
1 rule the next time Im part of any blind auction.
I could have saved $99 or $99.99 if theyd allow me to bid $300.01.
Nicole Dow is a senior writer at The Penny Hoarder.
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