Insurance for drivers news
07/06/2011
People advised on how to buy cars at auctions
A recent report showed that a growing number of people, including many who have invested in insurance for car owners, are willing to visit motor auctions.
Manheim Auctions said that two-thirds of British motorists would make a bid at an auction, as long as they were given a thorough account of their chosen vehicle's history.
It appears that people's perceptions have begun to change, as 85% of those taking part in a similar survey last year said that they would never have thought of buying a vehicle at auction.
However, many prospective buyers would now feel comfortable buying a car at an auction once they had looked for a warranty or guarantee of reassurance that nothing would go wrong with the new motor.
It is thought that used car sellers could generate further interest by offering one year's car insurance along with the motors sold at auction.
The Managing Director of Manheim Auctions said, "It's a common misconception that a car auction is an intimidating place. People mistake the car or van auction environment as a shady place where shady deals are done.
"But we know different and our research shows that consumers are now considering buying a vehicle at auction and opinion has shifted."
He went on to say that the company has been putting on workshops, where potential buyers have learnt how to pick up a bargain.
In other news, the recently published CAP Black Book revealed that used car prices have gone down by 8% over the last month. People who are set to renew their insurance for cars without a SORN certificate may be hoping for a similar reduction in the cost of premiums.