Old cars need more maintenance than new ones and with money as tight as it is these days, paying large amounts to keep an old car on the road can be difficult and buying a new one may make a lot of financial sense.

The problem is that when even paying for the maintenance of the existing car is tough, how do you pay for a new one? That is why the wholesale car auction is becoming a popular option - it is where bargains not available elsewhere can be found. Of course, these auctioned cars are not new ones, but you will be able to find a replacement for your current car that is cheap to buy and also to maintain.

The cars on sale at wholesale car auctions are those which have been repossessed by the finance companies because the borrowers did not repay the loans. The financial institutions need to sell of these vehicles to recover as much as possible of the remaining loan amount and they need to do it fast. Leaving the cars unsold means the losses against the bad loan will only keep increasing. On top of that, they will be paying storage charges for the cars in their possession and the longer the cars remain in storage, the more they will depreciate in value and also begin to show signs of age.

It makes sense for these financial institutions to sell off these cars as quickly as possible and recover whatever money they can.

The key to succeeding at a wholesale auto auction is to understand that the lenders are in a rush to get back as much of their money as they can and will not hold back a car even if the last bid is far lower than the market value and that is why those who attend these auctions regularly keep their bids low knowing that if they miss out on one car, another will soon come along.

However, buying from a wholesale auto auction is not without dangers - keep in mind you are buying a used car with no warranties. When people know that their car is going to be repossessed they often stop caring for it and a car that looks good from the outside may be one that will give you endless trouble if you do buy it. If you are planning to buy from a wholesale auto auction, it is important that you check out the cars you are interested in completely before bidding on them.

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Posted under Cars

When most people pay to get damage to their cars repaired, there are some who spend their money to buy damaged cars. There is one simple reason for this - nothing is as cheap to buy as a damaged car; it may be available at a fraction of the cost of the equivalent new or even second had car.

If you have the interest and inclination to get involved in car restoration, then this could be the best way to get the kind of car you want for a fraction of what it would otherwise cost you. Buying from a damaged auto auction is very different from a general auction - the bidder has to balance his bidding with the expected restoration cost so that the final on the road price of the car is within his budget.

If you are one of those no knowledge of automobile mechanics, stay away from damaged auto auctions - while you may be able to buy a damaged car very cheap, without being able to understand the nature of repairs, you will not be able to control the restoration costs and this will make the whole exercise futile because the end result will be a car that costs more than you expected it to. The first thing to do is to study the list of cars available at a damaged auto auction and make a short list of the ones that interest you - this should be based on the type of car, the nature of the damage and the cost and effort of repair.

The cost and availability of spares for many older makes may be an issue so check on this before finalizing your shortlist. Get second opinions about the nature of the repairs required so that you can be sure that you have not bitten off more than you can chew - this involves getting an expert to inspect the cars you have short listed along with you. Once you have the cars and the repair costs available, make sure that an equivalent undamaged car would not be cheaper that what you will be spending.

Once you are sure that the economics of buying from a damaged auto auction makes sense, make sure that you do not let your self get involved in bidding wars and spend more than you planned - this will affect the final restored price of the car and could make to whole effort a waste of time. If you are willing to take all the time and trouble needed to restore a damaged car, you should be able to have a safe reliable car that will give you years of reliable service.

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Posted under Cars

Every year, millions of people choose to rent a car whether for business or pleasure. Because there are so many car hire agency offering a wide range of prices and options, it can be a time consuming and frustrating experience trying to get a good deal. Fortunately, there are a number of things you can do to narrow down your search and end up with a great deal. Below are a number of tips on finding rental car bargains:

1. If you wait until the last few days to rent a car, chances are you will find a good deal. It is important to start a few weeks before your rental date so you have enough time to thoroughly research your options and get a good rate. As well, you want to make sure that your preferred car is available for rent. Also, starting early allows you to comparison shop. The internet is a great source to research car rental companies and comparison shop.

2. Before you search for a rental company, determine how long you will be renting a car. The longer you rent a car, the better rate you will get. Companies will usually offer better rates if you rent for a week or more. There are also certain days of the week where one can get a better rate. For instance, most companies will offer special weekend rates.

3. When researching car rental companies, it is important to find out their minimum mileage for free program before they start charging for each mile driven. Mileage rates can vary and the minimum mileage for free can also vary. If you will be doing a lot of driving, make sure you go with a rental company that offers a high mileage minimum for free. Also, check to see what the mileage rates are as they can vary. If you find a bargain, book the car, and then keep searching in case you find a better deal. Make sure you understand their cancellation policy so that if you do cancel your reservation, you will not end up paying a cancellation fee.

4. Because the internet has many car rental companies competing for your business, look for companies that offer special discounts and incentives. For instance, there are companies that will offer discounts if you make your reservation online. If booking online, make sure you read all of the terms and conditions. If you have any concerns or questions, contact the company by phone for clarification. Also, look for coupon or promotion codes to put into the booking form on the company's site.

5. Check with your credit card company to see if they have any special deals with rental companies. As well, if you are a member of AAA or AARP, you can often get a discount on your car rental. You can also check with your employer to see if they will let you reserve your car through them and get an employee rate. Your auto insurance provider may also provide discounts on car rental rates.

Before you book your rental, it is important to always read the fine print of the rental contract. There may be a number of hidden fees and taxes causing the price to drastically increase. There may be some services that you do not need. If you carefully research your options, you will likely get a great bargain on your next car rental.

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