Those that wish to buy a vehicle in Ontario have some great opportunities to do so. For those buying a new vehicle, they are many different car dealerships. Ones that will be more than pleased to serve them. For those wanting used cars, they can also go to used car dealerships. Another option is to buy privately. There is even an extra option. That is buying from public car auctions. Which there are several throughout Ontario.

Public Car Auctions Ontario

vehicle auction

 

Quite often those companies that get licenced to sell to dealers will also run live auctions for the public. There are several of these located across Ontario. Most of them abide by the rules and regulations. Ones that get put in place by organizations that oversee vehicle auctions.

Ontario Car Auction

There are different ways that the public can take advantage of an Ontario Car Auction. Some allow for attendance in person. During this time individuals interested in buying will get to check out the cars. Before the auction starting. This way they get to have a close-up view of the vehicle. It doesn’t give them the opportunity to test drive the vehicle. Which is one drawback of purchasing a vehicle in this manner.

Requirements for Vehicle Auctions in Ontario

Requirements

What one has to keep in mind is that there are different types of vehicle options in Ontario. There are those that are for wholesale buyers only. Then there are public car auctions were any individual wanting to buy it vehicle can go to. Most often those auction locations for dealers will run public options.

For the wholesale auctions, there are standards. Ones that most of the auction providers adhere to. These are National Auto Auction Association Standards. There is also the Ontario vehicle sales regulator which is an OMVIC.  It regulates sales of motor vehicles in Ontario.

What many people don’t realize is that a lot of used car dealerships go to these wholesale auctions. To buy their vehicles. They then bring them back and do whatever is necessary for them to get them in good sales condition.

Considering All Options before Buying a Car at an Ontario Auction

There are some good deals on vehicles that can get found at auctions. It comes down to the buyer beware warning. What you see is what you get. Once you buy a vehicle from a public auction, there is no changing your mind and returning it. There may be something seriously wrong with the vehicle. There may be some ways that you can rectify this. It will all depend on the company running the public auction. Also, it will depend on what gets written into the contract that one signs when buying a vehicle this way.

Auctions are a great way to find a car at reasonable pricing. One should check out their other options as well. Which means looking at used car dealerships. As well as private sales. But these too need to be approached with caution.

Tips for Buying a Car at a Public Auction

Prices

Many of the public vehicle auction organizers are now making use of the internet. Many of them have websites. They are using this platform to provide information. That which is going to be coming up about cars that may be available for their next auction. This is a great way for those interested to check out what may be available. This should be the starting point. A final decision should not get made just from the website. It may be that when one gets to see the vehicle up close, it looks a whole lot different than what it did online. Or it could be that the car is not longer available.

The best way for using this information is to make notes of what is available. This way there is a starting point to what may be of interest to look at further before the start of the auction.

Compare the Prices

Another great opportunity is to be able to utilize some of the Canadian resources. Ones for finding out what the current value of cars are at present. This allows the individual who is not too familiar with fair pricing for vehicles to gain some insight.

Get to the Auction Early

One of the big mistakes is arriving at the auction too late. It is not good enough to get there when the bidding starts. You want an opportunity to check out the cars that you get interested in. Be alert as to how many other people seem to be paying attention to the same vehicle. This is going to give you a bit of a heads up. To how heavy the bidding may be on that particular vehicle when the bidding does start.

Set Your Budget

Two things to keep in mind when it comes to the financial part of your vehicle buying. First, determine how much you can afford to spend. Then secondly decide on how much you are willing to pay for a particular vehicle that you get interested in. Stick to your budget in both of these areas.

Know What the Rules of the Auction Are

Every company that is running a public vehicle auction will most likely have a set of rules. For that those attending and buying at the auction will have to abide by. These will pertain to the actual sale of the vehicle. In most cases when a bid gets accepted the bidder will have to put a down payment down. Then the next day complete the purchase. A lot of times the rules will say that the sale is final.

Resources

https://www.omvic.on.ca/portal/
https://www.impactauto.ca/Support/AuctionRules
https://www.newswire.ca/news-releases/canadian-auctions-adopt-the-national-auto-auction-associations-naaa-national-certification-standards-580715361.html
http://www.moneysense.ca/spend/shopping/auto/public-auto-auctions-across-canada/
https://www.ontario.ca/faq/how-do-i-know-wholesale-price-my-car
https://www.canadianredbook.com/CanadianRedBook_V2/Redbook_01_HomePage.html
https://www.getrichslowly.org/reader-story-how-to-buy-a-car-at-auction/