Buying a Vehicle from a Dealer or Private Party Individual in Denver, Colorado or surrounding areas?
There are several factors to consider when purchasing a vehicle. First, determine if the vehicle is worth what the seller is asking. Numerous sources can be utilized on the internet. Used car guides such as Kelly Blue Book (kbb.com) and NADA (nada.com) are good sources but do not always reflect the current market for a vehicle. Usually these guides will give you a range of what the vehicle is worth or could be selling for. We also recommend doing some research on the internet. Search for like vehicles and see what asking prices are. Some sites will even show sold prices. Compare the vehicle condition to the ones selling in the current market. Use this and book value to determine its range of what the vehicle is worth. If you are unsure or cannot find the information you are looking for, we recommend hiring a certified auto appraiser in the Denver, Colorado market to conduct a certified appraisal to show its current market value and condition rating. This should also include a liquidation value which banks and financial institutions use for financing your auto loan.
Next we recommend pulling a vehicle history report. Usually these can be found for newer vehicles or vehicles newer than 1990. A good source to use is either Carfax (carfax.com) or AutoCheck (autocheck.com).
Bidding on a Vehicle at Auction in Denver, Colorado or surrounding areas?
In today's Denver, Colorado used car market, its very popular for dealers and car collectors to purchase vehicles from car auctions. Numerous collector car auctions showcase the best of the best when it comes to collector or classic cars. Before bidding on a vehicle always do your research. Make sure the vehicle condition matches the price you are willing to pay. Sometimes car auction companies will post an estimate price range; use this in determining if the vehicle is worth what you are willing to spend. There are also bidder fees to consider. Most auction companies charge anywhere from 5-10% of the selling price of the vehicle to purchase a vehicle through their auction. This can be a huge factor in determining if you are paying to much for the vehicle your are interested in.