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Buying a used car is a smart and economical way to purchase a reliable vehicle without breaking the bank. However, with so many options available and the competitive nature of the used car market, finding a good deal can be challenging. That’s why more people are turning to car auction buying services for a cheaper way of buying a used car. These services simplify the auction process and takes the hassle out of buying a used car.
In this article, we’ll cover everything you need to know about car auction buying services and how they can help you save money on your next used car.
What is a car auction buying service?
A car auction buying service is a professional service designed to assist buyers in purchasing vehicles from car auctions. These services are operated by experienced automotive experts who understand the auction process and can navigate it on your behalf. They take care of everything, from finding suitable cars based on your preferences and budget, to conducting thorough inspections, placing bids, and handling all the paperwork.
Essentially, they act as your personal representative at car auctions, ensuring you get a reliable vehicle that meets your needs without the stress and uncertainty of doing it yourself.
How does a car auction buying service work?
Using a car auction buying service can simplify the often complex and overwhelming process of buying a car at auction. These services provide professional assistance throughout the entire journey, making it much easier for buyers, especially those who are new to car auctions.
Here’s how our car auction buying service at SVS Cars works:
- Initial Consultation: The process begins with a discussion about your needs, preferences, and budget. This helps us understand what you’re looking for in a vehicle.
- Vehicle Search: We search through various car auctions to find vehicles that match your criteria, using our access to both public and dealer-only auctions.
- Inspection: We conduct thorough inspections to ensure the cars are in good condition and meet your standards.
- Bidding: We will handle the bidding process on your behalf, using our expertise to secure the best possible price.
- Paperwork: After winning the bid, we will manage all the necessary paperwork and legal documentation.
- Delivery: Unlike other companies, we even arrange for the car to be delivered to your preferred location.
What are the benefits of a car auction service?
Using a car auction buying service offers several advantages that make the process of purchasing a used car more straightforward and stress-free. These include:
- Expert Guidance: Our services are run by professionals who know the ins and outs of car auctions. Our expertise helps you avoid common pitfalls and make informed decisions.
- Time Savings: Searching for, inspecting, and bidding on cars can be incredibly time-consuming. A car auction buying service handles all these tasks for you, freeing up your time for other important matters.
- Access to Exclusive Auctions: Some car auctions, particularly dealer-only auctions, aren’t open to the public. Our services give you access to a broader range of vehicles and often better deals.
- Thorough Inspections: To avoid any unpleasant surprises, car auction buying services conduct detailed inspections to ensure the vehicles are in good condition and meet your standards.
- Hassle-Free Bidding: The bidding process at auctions can be fast-paced and overwhelming. We handle the bidding on your behalf, using our experience to secure the best possible price.
- Paperwork Management: The paperwork involved in buying a car at an auction can be complicated. Our car auction buying services take care of all the legalities and documentation, ensuring a smooth transaction.
How much does a car auction buying service cost?
The fees you are charged varies depending on the car auction buying service provider you use. When using SVS Cars’ car auction buying service, you only pay fees when you’re ready to place a bid on a car.
Here’s a simple breakdown of the costs involved:
Service Fees: SVS Cars charges a one-time fee when you decide to bid on a vehicle. This fee allows you to place unlimited bids until you successfully win a car at auction.
Hammer Price Fees: The hammer price is the final bid amount at which a car is sold at auction. On top of this price, there’s usually a buyer’s premium – a fee that the auction house charges for their services. This premium is a percentage of the hammer price and can vary depending on the auction house, usually ranging from 5% to 10% of the hammer price.
VAT: VAT is not payable on used cars under the governments VAT Margin scheme. If you are a private or trade buyer no VAT is payable on the final sale price of a car unless the car is classed as a commercial vehicle and fails to qualify for the VAT margin scheme.
Please refer to the GOV.UK for more information on the VAT Margin Scheme.
For more information on how our fees are calculated, feel free to visit our website. If you have any questions or need personalised assistance, don’t hesitate to get in touch.
Is using a car auction buying service a cheaper way of buying a used car?
Yes, using a car auction buying service can be a cheaper way to buy a used car because cars at auctions are sold at trade prices, which is what dealers pay. Dealers then add a significant markup, usually a few thousand pounds, to make a profit when selling to the public. By using a car auction service, you can save thousands because you’re cutting out the dealer and their profit margin. Instead, you pay a small fee for the service, which is usually less than 10% of the dealer’s profit. Since all car dealers get their stock from auctions, you’re essentially buying from the same source but at a lower cost.
What types of car auctions are there?
With various types of auctions available, it’s essential to understand each one’s unique features and who they cater to.
Here’s a breakdown of the different types of car auctions in the UK and who can participate:
Public Auctions:
Overview: These auctions are open to everyone, including private buyers and dealers. They offer a diverse range of vehicles to suit various budgets and preferences.
Participants: Anyone can participate, making them accessible to the general public, from individual buyers to enthusiasts.
Dealer Auctions:
Overview: Also known as trade auctions, these are restricted to licensed car dealers. They often feature a larger inventory of cars and can offer better deals due to the volume of vehicles sold.
Participants: Only licensed car dealers can participate, making them an excellent source for dealers looking to expand their inventory.
Online Auctions:
Overview: Conducted over the internet, these auctions allow buyers to bid on vehicles from the comfort of their home or office. They provide detailed listings and photos of the cars available.
Participants: Most online auctions are open to both the general public and dealers, depending on the platform used.
Can I see the cars before the auction?
At SVS Cars, we understand the importance of making an informed decision. That’s why we offer the opportunity to inspect the cars before the auction. During the preview period, our team can provide you with detailed inspection reports and assist you in conducting a thorough examination of the vehicles. This way, you can be confident about the condition and quality of the cars you’re interested in.
What happens if I don’t win the auction?
If you don’t win the auction for a particular car, there’s no need to worry. At SVS Cars, we offer unlimited bids until you successfully win a vehicle, so you won’t incur additional fees for multiple attempts. Our team will continue searching for suitable cars that match your preferences and budget, ensuring you stay in the game until you secure the right car.
What types of used cars can I find at auction?
Used car auctions provide a wide selection of vehicles to suit various preferences and budgets. At SVS Cars, we have access to major auction houses such as BCA (British Car Auctions), Manheim, and Aston Barclay. Our extensive network allows us to operate in trade, quality-assured, and private dealer auctions all across the UK. This means we have access to a diverse range of vehicles to match your specific needs.
Is there a warranty or guarantee on auctioned cars?
Most auctioned cars are sold “as-is,” meaning they come without warranties or guarantees. However, at SVS Cars, we ensure you have all the information you need by providing comprehensive inspection reports and assisting with vehicle assessments. While some newer or certified pre-owned vehicles may come with limited warranties, we make sure you understand the condition of the car before making a bid. Be sure to check with our team about any potential warranty coverage for the vehicles you’re interested in.
Why choose SVS Cars for expert car auction buying services
When it comes to buying a used car, SVS Cars offers unparalleled expertise and dedication to ensuring you get the best deal possible. With over 25 years of experience in the car and automotive industry, our team has the knowledge and skills to navigate the complexities of car auctions and secure the best vehicles for our clients.
Our seasoned professionals guide you through every step of the auction process. From the initial consultation to the final purchase, we handle everything to make your experience as smooth and stress-free as possible.
Choosing SVS Cars means partnering with a dedicated team that prioritises your needs and ensures a seamless and successful car-buying experience. Contact us today to learn more about how we can help you find your ideal used car at auction.
