Car auction in the Philippines need a lot of planning. If you are having trouble with
your next one, these are some tips to help you:
Savings should be set aside for possible repairs
Second handed vehicles at car auctions in the Philippines are risky to bid for,
therefore everyone needs to have enough savings for repairs. A budget needs some
planning. You can easily plan you already have a trustworthy mechanical shop in
mind and know the prices of all their repair services. Some problems may be too big
for regular drivers to fix, therefore, a mechanic will be needed.
If you don’t have one yet, this can be easily done with some research. There are
several online threads where people ask for good places for car repairs, and online
reviews are posted if a business is popular enough. Lastly, check if the place you
want to go to was accredited by the Department of Tourism and Industry because it
is a good indication of their performance and safety.
Information about the auctioneers and the cars
Some auctions will post a list of the car models that will be sold ahead of time and
with this information, you can check for the current market value of each. If you can
see the car in real time, its VIN will give you a lot of information. The VIN can tell you
the country where it was made, the model year, manufacturer, and security code.
If you don’t want to decode it yourself, there are decoding smartphone apps
available. Auctioneers are required to have a license and there is public information
about their successes and customer complaints.
You also choose what type of auction you want to attend
Auctions vary depending on the type of vehicles available and the type of
auctioneers. Most car auctions are public or online, while government auctions are a
lot less. Government auctions usually sell police and government cars that are not
needed, and these draw huge crowds because bidders know of their history, since
all federal activity have to be documented. The downside is high competition and
high prices because of demand
It’s harder to research for a car’s history at public and online auctions. Not only that,
they are last resort for sellers who weren’t successful at more prestigious actions. A
lot of cars are buffed and shined to look a lot more expensive than their actual worth.
The upside is there will most likely be less competition and therefore, you don’t have
to spend as much
Your mental state has to be calm and collected
Bidders in car auctions can be loud and crazy, but if you take steps to calm
yourself, then you won’t be carried away by the noise. Most longtime bidders feel
mentally prepared after having done enough research because they know how to
deal with the adrenaline. If you a first-time bidder, it may take more than that.
Research has shown that deep and slow breaths before any stressful situation is a
good way of calming yourself.
May you be a first time or a long time bidder these are just one of those things you cannot forget and prepare beforehand, These are good tips to remember for any bidder who wants to do well in a car auction.