Hi Mabs
I am a 35-year-old single mom, I recently started a job as a sales agent in a highly stressful environment. When the job was advertised, they were looking for someone who owned a car. However, they were desperate for someone and asked me to start while I looked for a car. The hours are long and I often have to visit clients at their homes after hours. I get paid on commission and the pay is not enough to qualify for car financing. My dad recently passed away following a long illness and I inherited a sum of money from him. I would like to use it to buy a car from an auction. I don’t have much knowledge about how to go about and since this will be my first car, is the auction the best route to go?
I’m very sorry to hear about your dad’s passing. However, congratulations on your new job, and I wish you the very best.
Auctions have been around for a while, but have been in the spotlight in recent times. This is due to the fact that times are tough and the cost of living is escalating. Most people are barely surviving and lose their possessions such as homes, vehicles, furniture, and other valuables. These are then sold off on auctions by their creditors to recover the costs. They are often sold for as little as possible, hence the attraction to auctions.
Getting started at auctions
Auctions can be a good place to buy a vehicle, but there are pros and cons of buying a vehicle at an auction.
You need to first scrutinise the vehicle before lifting your hand to bid for it.
Before you get mesmerised by the shiny paint, the big wheels, and the Harman Kardon sound system, there are red flags that cannot be ignored.
Background checks
First things, do a background check on the vehicles you have earmarked before placing a bid. Check if the vehicle is not a stolen car, hasn’t been involved in a serious accident and the general mechanical/physical condition of the vehicle.
Check documentation such as roadworthy certificate and license disc.
Beware of “ghost bidders” trying to drive the bidding price high. Just like when hunting for any used car, you may also ask someone who has better knowledge of cars than you. Be ready to walk away if the car looks too good to be true and you haven’t done due diligence on it.
Leave emotions at home
I know you have little time and are under pressure to get a vehicle for work. Do not rush to place a bid, go around a few auctions and get the feel of their processes. It is always advisable to stick to your set budget, to filter in the extra costs that may arise from buying at an auction.
Start the engine and listen to it. Ask for documents such as service books, logbooks, and anything that could assist you in understanding the background of the vehicle. Bear in mind that goods at auctions are sold “voetstoot”.
Go for bank-repossessed and fleet vehicles
Most banks sell these assets through auctions to recoup their monies. The fleet vehicles at auctions mostly come from government departments, and big corporations disposing of their fleets which would have reached their end of “life”.
I wish you the very best in your search for your new set of wheels.
