Vehicle auctions give you a wide range of choices for used vehicles, whether you’re buying them for repair or dismantling for parts. Since you’re buying at the start of the supply chain for vehicles that are put to auction by insurance companies, you get the cheapest deals.
Apply the following tips before entering the world of used vehicle auctions and get the right vehicles at the best prices.
– Research makes and models. You can cut your search time in half by knowing exactly what it is you need. Look for makes and models that are in high demand but with relatively low supply in your local market. This will give you maximum pricing power. Similarly, if you’re looking for salvage vehicles for parts then target the salvage vehicles with the parts that are in the highest demand with the highest profit margins.
– Research the market. A good place to research the market for salvage vehicles is to look through the sales data for the models that you’re interested in at the wholesale vehicle auctions. Find a company that provides professional exporting services that also has an online system where you can access this data for free. When it is time to buy, you can source from these auctions and from specialised salvage auctions in other countries.
– Consider high-kilometre vehicles. Aside from going with water-damaged or crash-damaged vehicles at vehicle auctions, consider high-kilometre vehicles, too. Demand for vehicles that reach or go over 100,000 kilometres take a dive in the used vehicle market and become salvage grade value.
– Get an idea of what it will cost to fix the damage on the vehicle. If you’re buying salvage vehicles for repair, then be sure to take a close look at the damaged areas of the vehicle and estimate the likely repair costs before bidding.
– Get an idea of parts value. Alternatively, if you’re buying salvage vehicles for dismantling for parts then it is best to estimate the parts value of the vehicle. Often you will be able to source whole salvage grade vehicles for around the parts value of the engine and transmission alone.
– Seek assistance from reputable sources. Finally, hire an exporting company that gives you the choice of all the quality used vehicle auction grades, from new to salvage, and can process your buy orders, arrange trucking to port, documentation and export to your destination.
These are simple yet smart ways to get the best deal from vehicle auctions.