OTAY MESA — If you're in the market for an affordable car and you've got an eye for detail, a taste for adventure and a stomach for risk, then an auto auction may be in your future.
Thousands of used cars are sold each week for less than half of their retail price at nearly a dozen impound yards and auction lots around the county. Most of the auction sites are situated in Otay Mesa along the border-hugging Interstate 905, but they can also be found from Mission Valley to Escondido.
On Saturday morning, more than 100 eager bidders showed up at Otay Auto Auction on Siempre Viva Road to check out the 145 vehicles and one motorcycle that would be sold to the highest bidder.
The buyers included parents buying cheap first cars for their teens; used car dealers and hobbyists who buy low, repair and sell high; and drivers who want a nicer car than their budget allows and don't mind the risk associated with buying cars "as is."
One such buyer was Andranae Bryant, a 19-year-old San Diegan who bought a Dodge Neon at auction for $2,000 a couple of years ago and was back Saturday to trade up to something a little newer and sportier. With her dad and her friend Amber Bolden along for second opinions, Bryant was hoping to find a Honda Civic for $3,500 or less.
A few yards away, Scott Gurnee was looking to buy two cars, one for himself and another for a friend.
The San Diego commercial diver said he'd bought four or five cars over the years and had always more than doubled his investment when he sold them. The first was a Chevy Blazer he purchased for $600 10 years ago. On Saturday, he was looking to buy either a 2007 Chevy Impala or a 2008 Toyota Prius for $2,000 or less.
Auctioneer Oscar Velez points to the highest bidder on one of the more than 100 vehicles auctioned off at Otay Auto Auction in Otay Mesa. — Howard LipinShare Photo
Auctioneer Oscar Velez points to the highest bidder on one of the more than 100 vehicles auctioned off at Otay Auto Auction in Otay Mesa. — Howard Lipin
AUTO AUCTION BUYING TIPS
• Do your research: Auction houses will detail their sale inventory online several days in advance. Buyers can check the mileage and resale value and use the Vehicle Identification Number to check the car's ownership and accident history.
• Let the buyer beware: Cars at auctions are sold "as is." Bidders can look over the cars an hour or two before the auction, but they'll see and hear it running for only a few seconds before bidding begins.
• Bring along a mechanic or car aficionado who can quickly spot serious engine problems: Some cars may need no repairs, while others may need minor work, like brakes or a fuel pump. But if the engine is ticking, smoking, smelly, has low oil pressure or slipping gears, you could end up spending a lot more on repairs than you did for the car.
• Bring cash and your ID: Once your bid is accepted, you'll need to immediately submit a cash deposit of $300 to $500 to secure the deal. Most cars must be picked up within 72 hours. Buyers must be 18 years or older and are required to pay an auction fee of about 10 percent.
• Arrive with a car and budget in mind, and stick to it: In the frenzy of the auction, buyers often get caught up in bidding wars and may pay much more than they planned. One auction dealer said an overexcited buyer paid $22,000 for a 2008 Mercedes — almost the same price it would've sold for at a used car dealership — but he never had the opportunity to thoroughly inspect the engine or test drive it, and it came without a warranty.
Source : http://www.utsandiego.com/news/2014/nov/15/auto-auctions-require-homework-and-cash/
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