If you want to fix up a vehicle you already own, a great way to do that is to purchase a salvage vehicle that you can use for spare parts. Professional auto shops and junkyards do this all the time, and you can purchase a salvage vehicle as well.
One of the more popular ways to sell salvage vehicles is through auctions. Insurance companies will auction off salvage vehicles and city and state police departments auction off abandon vehicles, which are generally vehicles left over from accidents that were not claimed.
#1 Check Out the Vehicle
Most auction yards will allow you to check out the salvaged vehicle first. Even if you are only wanting to use it for parts, you still want to check it out. You should have a list of all the parts that you need to salvage from the vehicle for your car. You are going to want to check the salvaged vehicle and make sure that it has all or most of the parts that you need. You don't want to purchase a junk car that doesn't have the parts that you need.
It is helpful if you know how to check the parts and make sure that they are in operating condition. If you have some mechanical knowledge, that can be really helpful. On the flip side, if you don't have much mechanical knowledge, you can always bring someone with you who does have some to help you check out the vehicle.
#2 Get an Auction Number
Second, you are going to need to show up on the day of the auction. Most auction houses have a process for getting an auction number. You usually need to show some form of government-issued identification, such as a passport or driver's license, in order to get a number and put in a bid. For most auto salvage auctions, you do not need a special license to bid, although if you are bidding for business instead of for personal usage, you will need to present a business operating license and sales tax license.
#3 Bidding for the Vehicle
Make sure that you know how much you want to spend on the vehicle. Auctions can go really fast, and you need to know when to stop bidding and when to push it so that you can outbid someone.
Look at the vehicle and figure out the cost of the parts that you will get for the vehicle. You don't want to bid more than the vehicle is worth to you. Write down that number so that you have it in your mind.
You should get a bid list. Bring a highlighter and highlight the vehicles that you are interested in and write down your top bid as well. When your vehicle comes up to auction, hold up your paddle when the auctioneer starts the bidding. Put it down after you make your offer and hold it up again to make another offer if someone makes a counteroffer. Continue this process until you win or until someone outbids what you are willing to pay for the vehicle.
#4 Pay for the Vehicle
Find out the specific payment method for the auction ahead of time. Some auction houses require you to put down a specific amount and pay the remaining balance within two business days. For example, any winning bid may be asked to put down $500 and settle the balance within two business days.
Other auction houses require you to pay in cash the day of the auction for the vehicle. In that case, you would need to have as much money as you are willing to spend on your person when you attend the auction.
If you need a vehicle for spare parts, an auto auction can be a great place to get salvage cars for sale that you can use for their parts. Check out the inventory before the auction and find out how to pay if you win the vehicle you want at the auction. On the auction day, show up with the appropriate amount of cash and government identification so that you can get a paddle and bid on the vehicle you are interested in.
