Protecting yourself when you buy a car at an auction

An auction is defined as a public sale in which property is sold to the highest bidder. While you can often find a good deal at an auction, you can also easily get ripped off. This is probably even more true when it comes to automobile auctions that sell used cars. There are several ways however, to protect yourself and make sure you don't drive away with a lemon.

Before going to the auction sign up to access the online CARFAX vehicle history reports that allow you to pull up all the information on the car by using the VIN#s.

Make sure your contract with the auction company clearly states the title indication light, which are either red, green or yellow. If the purchase turns out to be a red-light title problem later on, yet they told you it was green, you will be able take recourse against the company.

You will want to have a Kelley Blue Book, NADA guide or Edmunds book if you're going to a public auction. If it's a wholesale auction, bring a Black Book.

When you find the car you like, do a complete physical check. Above all, look for the VIN# stickers to make sure they all match. If they don't, this can tell you the car is either stolen or, it was in a wreck and fixed with parts from another car. To check the VIN#s use your computer to run a CARFAX report or call someone who can. Always verify the auction's title checks.

Be careful not to get caught up in the excitement of a bidding war and spend too much for a car. If you can't get the car for a comfortable price below published value, then the auction was a complete waste of time for you.

Gettin' DOWN - automobile insurance

Car-insurance rates are falling as boomers slow down and cars get safer. Make sure you get more than your share of the savings. Shopping for car insurance ...(Continue Article)

Makeover: when car insurance is a killer - Right Insurance, Right Price - Cover Story - Brief Article

With four cars--two driven by their sons--and a recently renovated 1852 farmhouse, Jim Matteson, 53, and Diane, 50, of Madison, Conn., are used to steep insurance bills. We found them big savings(Continue Article)

Guard Your Presents - need for auto insurance; mutual fund performance - Statistical Data Included

INSURANCE | The holidays are full of temptations--for THIEVES, too. AS IF YOU don't have enough to do during the mad rush of holiday shopping, take ...(Continue Article)

Choices, choices, choices: to land the best deal you better shop around - car insurance - B.E. Personal Finance, part 2

Insurance rates can vary by 300%, so a car owner should do some research. Tips are offered on how to get a good insurance rate. They include: decide on ...(Continue Article)

Insurance Made Easy - best Web sites for buying insurance

INTERNET | We found the BEST SITES for auto, life and health. IF YOU COULD LINE UP identical insurance policies a glass display case and dangle a price tag from each one, you'd uncover the insura(Continue Article)