The car auction business in Mexico is booming, and the salvage vehicle sector is one of the primary engines driving this growth. While many of the same factors apply in determining whether or not to even buy a salvage vehicle, Mexico is certainly a viable option to pursue this purchase if you feel that you are still interested.
Auctions Galore in Mexico
The first thing you need to know about salvage auctions in Mexico is that they are in plentiful supply. Many of the vehicles come from the United States. In fact, many of the auctions have so many cars and customers that it is often difficult to make sense of it all. The following tips will help you get prepared to successfully participate in a car auction in Mexico.
Avoid Unlicensed Auctions
The primary thing to remember in Mexico is that auctions can be unlicensed, so you want to go to the effort of selecting only events that are officially licensed. A licensed auction provides a layer of security that you will need when dealing with a vehicle purchase in a foreign country. This is also important as it helps to ensure the integrity of the vehicle, which means that you can reasonably trust the information that is given about each car and truck available at the auction.
Get Information on the Vehicles
Mexico is very similar to the United States in that much of the information about vehicles to be sold at each auction is made available online prior to the event itself. It is strongly recommended that anyone interested in buying a salvage car or truck do his or her homework prior to ever purchasing a vehicle at auction in Mexico. Attending a licensed auction does not guarantee the quality, or lack thereof, of the cars and trucks being sold, so keep that in mind.
Consider Transportation and Customs
If you are from the United States, it is often recommended that you purchase the vehicle at an auction that is near the border. This will help facilitate the process of returning the car back to America should you choose to do. This process actually involves the vehicle being taken to a Customs processing center, such as the one located in Nogales, Arizona. This process will take about a week, so you will need to be patient.
Many auctions in Mexico operate in a similar fashion to those in America in that minimum prices are set for each vehicle. If a bid lower than the minimum is offered, and there are no competing bids, then approval must usually be granted by executives controlling the auction. The moral of this story is do not hesitate to bid below the minimum if you know that you are the only one interested in a vehicle. You just might get a great deal that way.
Many of the sellers are not interested in retaining ownership of the car after the auction, so the minimum bids in Mexico are often seen as a way of trying to drive up the purchase price. Go ahead and try to get that deal, as it never hurts to ask.
Attending an auction in Mexico can be a great experience. Just remember to do your homework, and conduct your due diligence on any vehicle that you are interested in purchasing. Remember to factor in some extra expenses if you want to bring the car back to America to make sure that it is worth your while in the end.