If you know what to look for, auctions can provide some very cheap and good condition vehicles. The British Car Auctions such as Measham and Collick are used by BMW Dealers to acquire under 3 year old BMW’s, which they sell on for a decent profit. However it is just as likely you will purchase a complete wreck of a car without knowing where you are going, what you are looking for and the market values of the car in question. This area should provide some useful information and if you feel you can add some knowledge please send us some details.

I would recommend that the first time you attend an auction it is as a spectator so you can see how everything works. Try and decide what car you want before attending and set yourself a limit. I would also advise leaving the copies of car valuations at home because although you might not believe this some people (dealers) will bid on your car just out of spite. It is also worth attending the auctions where you can view the cars first, inspect the interior, exterior, documents and even test drive. Some auctions the vehicles are just driven out in front of everyone and sold without prior inspection. You won't believe the speed these cars sell at so try and take note if there is a lot guide before hand.

Check out the various online auctions as well, we have seen vehicles go at under 25% of there market value and it really is an excellent source of capital, especially if you have contacts in the trade or you are partial to a wrench.

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www.british-car-auctions.co.uk