Buying A Car At Auction (The Motley Fool)(Car Auction News)

It auctions vehicles on behalf of former owners such as car hire companies such as Lex Leasing, LLoyds TSB Autolease, and Pendragon — names familiar to anybody with a company car, for instance. You can always restrict yourself to buying a car no older than, say, two years, further minimising the risk of buying a faulty car. At British Car Auctions, a storage fee of Ā£17 + VAT is chargeable for each day or part-day the vehicle remains uncollected. Pick an example of the sort of car that you might be interested in, and follow it through from the compound to the hammer-drop — this is your opportunity to listen to the carās engine, ask the driver any questions, and generally make a judgement about whether you would feel happy to bid on the vehicle. And take your spouse or partner, if the car is for them — itās a little too late to discover they donāt like mustard-yellow when the car is sitting on the drive! None of the cars he has purchased at auction had any faults or defects, and his wife still mourns the loss of her favourite one — a mustard-yellow Mazda 323, bought at an auction in Leeds many years ago, having done 14,000 miles under one careful lady owner. read more

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