Advising Center

Global Economic Crisis. Credit Crunch. Catch phrases we have all become too familiar with in recent times. With official figures showing new car sales in decline by 20% it’s no wonder we are all nervous about investing in the second most important purchase after our homes.

It’s not all doom and gloom for the general public, however. Smart buyers are cashing in on the bargains available through auction houses. With prices below retail and a huge range of vehicles available at all times, it appears that it pays to start bidding for a bargain.

Even better, it’s no longer only used vehicles going under the hammer. Dealership liquidations, whilst unfortunate for the automotive industry, are providing a win win situation for car buyers.

In the Melbourne suburb of Sunshine last December, 55 new Holden’s went under the hammer. Every single lot sold, with an estimated value of $1.4 million dollars.

But buying at auction isn’t a new phenomenon. With products ranging from general and government vehicles, to classic and prestige, trucks, machinery and earthmoving plant equipment, damaged vehicles, IT equipment and general goods all up for the taking, auction houses are not only surviving current economic conditions, they are thriving. And in return, major savings are being passed on to final consumers.

With economic times making us all increasingly budget conscience it’s important to maximize your dollar, wherever you are spending it. If a new car is on the list of “to do’s”, why not explore the option of buying at auction? And take note, if bidding in an auction is too overwhelming, many auction houses now offer consumers a buy before auction facility, allowing you to secure a vehicle at a set price.