If you are looking to buy one auction motorcycle, know that there are some advantages and disadvantages. This is because buying any vehicle at auction requires the customer to take certain precautions.
With this in mind, we created a list of tips for buying a motorcycle at auction and not fall into a trap or suffer many losses, check it out!
1. Auction company
Choose a reputable auction company, such as one organized by large financial companies or even government agencies. This way, you can avoid the risk of falling into a trap and being scammed.
In addition, there are many fake companies that create websites with auctions that do not exist. So, keep an eye out, as well-known companies in the market advertise the events on their official websites and in media outlets such as TV, newspapers and radio.
2. Model search
Before buying a motorcycle at auction, research the chosen model, how much it costs to maintain, whether it is worth it or whether there are any manufacturing problems, for example.
Likewise, this prevents you from buying a motorcycle that you have to constantly take to the mechanic for. And if possible, we recommend that you talk to an experienced mechanic about whether that model would be a good investment or would cause a lot of damage.
3. Have some money saved
Another important tip is to have some money saved so that, in addition to being able to buy the motorcycle and make good bids, you can cover all other costs, such as auction fees, regularizing the vehicle, paying off outstanding debts, and others.
This is because although an auction motorcycle is cheaper than those you would find at a dealership, the buyer needs to be aware that these motorcycles generally belong to other owners who probably lost the property because they did not continue with the financing, for example.
4. Description and analysis of the vehicle
Generally, before the event takes place, it is possible to access a website with complete information about the motorcycles for sale, including photos, etc. Therefore, it is recommended to read the entire description and also, close to the date, visit the company where the motorcycle is located to check the condition of the vehicle to avoid pitfalls.
5. Evaluate possible repairs and expenses
As we mentioned above, a auction motorcycle There will always be costs and that is why it is important to evaluate whether it is really worth buying it and whether all the expenses will not be too expensive, with maintenance and all regularization.
Finally, to buy one auction motorcycle know that even though they are cheaper, you will hardly be able to sell them for a good list price. This is because auction motorcycles when resold they cost from 5% to 10% of the price list value.
Therefore, when buying one, motorcycle at auction, evaluate whether it is worth it and whether you will be able to bear all the additional costs.