by Mona Gallagher

Created on: October 14, 2007

Certain cars are ideal for selling at auctions. These cars are in varying conditions, some may be older cars and other cars may have collision damage. If your car needs costly repairs, an auction may be your only choice. Generally, selling your car at an auction is a last resort.

You'll get a better price when you sell your car to a private buyer, but there are times when it wouldn't work to your advantage to sell your car to a private buyer, like when the car is unsafe to drive. If the car is 10 to 15 years old, dealers usually don't want it as a trade-in.

IDEAL CARS FOR AUCTIONS

If your car is not registered, auctions can usually accept the car and wade through the required paperwork.

Suppose you have collision damage and have no way to fix the damage, or it would cost more than the car's worth to repair it? You can be sure that no dealer or private buyer is going to want your car either. This situation calls for an auction.

Is your car not running? Many auctions will accept your car even if it's not running. As long as the value is above a specified amount, your car usually will be accepted. That is a viable solution for some sellers who otherwise would have a difficult time selling.

One man had a car that needed a transmission replacement and didn't want to put any more money into his vehicle. Another had a damaged engine. If you live within 100 miles from the auction location, they'll tow your car and deduct the towing cost from your sale.

If the damaged or non-running car doesn't sell, you lose the entry fee, pay the towing costs and have to retrieve (if necessary) the vehicle. You could give it to them.

ONLINE AUCTIONS

If your car is in good running condition and in overall fair condition, you can choose to sell your car in an online auction. If you set the reserve at a fair price, and the car is a popular brand, you'll probably sell it at a decent price.

If you have a classic car, such as a muscle car, an online auction will bring the greatest number of interested buyers. Foreign classics do reasonably well in this type of auction too. Your reserve price is important, always.

The disadvantage of selling at auctions is that if the car doesn't sell, you still have to pay the entry fee. In some situations, auctions are a last resort.

All auctions have their own rules, so if you decide to sell in an auction, be sure to check the requirements and read the fine print.

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