Buying a car in many Asian countries can be extremely expensive. Malaysia is the second most expensive country to buy a car in, as regular models often sell at luxury car prices. This can mean that buying a used car at auction is the best option, as cars sell for cheaper prices. Used cars don’t have to mean you’re buying something that is unreliable or no good, but it’s important to know how the auction process works to make sure you get a good car for a price that suits you.
View the car before bidding
The organization responsible for the auction should have a warehouse with designated viewing hours that you can visit to view any available cars you’re interested in. This information is usually published on their website as part of the auction’s details. View the car and inspect it to make sure you know what condition it’s in and how much you’re willing to pay for it. It can be a good idea to pay a mechanic to come with you to inspect any cars you’re interested in, as this can save you a lot of hassle in the long run.
Get bidding
Make sure you register to bid on each sale you’re interested in. This is quick to do, can be done online, in person or on an app, and registers you as a genuine buyer. When it comes to auction time, you can either attend and participate onsite, online or with an app. It’s a good idea to have a set limit of how much you’re willing to bid on a car before you start, and stick to this. It’s easy to get carried away if you find yourself in a bidding war. If your bid is the highest, you’ll likely be expected to pay before being able to collect your car. Make sure you know what methods of payments are accepted, as some will be limited, which could slow down your purchase. You’ll also need to have insurance and road tax paid for before you’re able to drive your new car.
Arrange your insurance
The feeling of being the one with the winning bid on your car is exciting, but you need to be prepared to arrange your road tax and car insurance fairly promptly. Compare quotes on a comparison website, go directly to a provider, or visit a Post Office Malaysia, where you can get both your car insurance and road tax. Buying your insurance online is usually the quickest option. You won’t be allowed to get road tax without insurance, and some providers may insist on a certain level of cover, depending on your age and which car you want to insure, even though third-party insurance is the minimum compulsory insurance in Malaysia.
Buying a used car at an auction can be a smooth process that results in you getting the car of your dreams without making a huge dent in your wallet. Check the car out beforehand, set your maximum bid, and be prepared to arrange your insurance before you drive away.
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