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What to expect
when you attend the King County Auction
Shopping
for a used car can be a frustrating experience for many
people. You can avoid all of that frustration by attending the
King County Auction. It's EASY! And to give you an idea of
just what you can expect when you attend, we've developed this
guideline:
How
much do you want to spend?
You may
already have a set amount that you want to spend. That's
great. But keep in mind that there will be a 10% buyers
premium (min. $250) added on to the hammer amount (the winning
bid amount) as well as sales tax and DOL fees. Here's an
example of the actual amount someone paid for a car.
Example
of Pricing:
|
Hammer
price |
$
2,000.00 |
|
Buyer's
Premium |
$
250.00 |
|
Doc
Fee |
$
50.00 |
|
DOL
License |
$
100.00 (varies) |
|
Sales
Tax @ 9.1% |
$
209.30 (if applicable) |
|
Total
vehicle price: |
$
2,609.30 |
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Financing
available for all credit situations:
Many
of us would rather let the bank put up the cash for our car.
If you'd like to know how much credit you qualify for just
click on our
on-line financing
application.
Fill it
out and email it back to us and we'll have your "credit
pre-qualified" bidder card waiting for you on Auction
Saturday. It's quick and easy. Or call 877 KING BID
(877 546 4243) to speak to a credit officer over the phone.
Then check out the photos of early arrivals for that perfect
car for you.
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Vehicle
Inspection:
With all
of the different makes and models out there, it's hard to
decide on just the right car. You don't have to wait until the
day of the Auction to see the cars that will be sold. Attend
our preview on Friday (the day before the Auction) from 9:00
am to 6 pm or on Saturday (the day of the event) from 9:00 am
to 12:00 noon. Select a couple of different cars that you're
interested in and inspect them carefully. Investigate as to
whether all of the interior controls (such as air conditioner,
wipers, lights, etc.) are in good working order. Start the
engine. Bring your mechanic to look under the hood if you
like. (Due to space and insurance considerations, you will not
be able to drive the vehicles.) And don't hesitate to ask
questions of our staff. We want you to feel knowledgeable
about the cars you may bid on.
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How
do I bid?
What if
the auctioneer talks too fast? We've all seen silly auction
scenes on TV where characters accidentally bid by scratching
their nose or pulling their ears. That could never happen at
the King County Auction. Our auctioneers speak clearly and are
easy to understand. The last thing we want is for you to bid
on a car that you don't want.
Each car
is parked at the Auction block one at a time. You simply wait
until the car you want is on the block. The auctioneer will
start the bidding at a reasonable amount. Listen for an amount
that you're comfortable with and raise your card high enough
for our staff to see it. One of the "ringmen" will
acknowledge your bid by walking in your direction and pointing
at you to confirm that you are, in fact, making a bid in that
amount. Nod your head to confirm your bid to the ringman. And
if you think there is any chance that the ringman thinks you
are bidding when you are NOT making that bid, clearly shake
your head "no."
Others
will be bidding, too. Continue to bid until either the bidding
has gone out of your price range, or the car is sold to YOU,
"the last bidder." If you are the last bidder, at
the point the auctioneer says "sold" you own the
car.
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How
do I go about paying?
Once
you've won the bidding on a car, one of our staff (known as a
"runner") will bring you paperwork showing you've
won the bid at the particular "hammer price" the
auctioneer called. She or he will show you to the cashier's
desk where you will need to pay for the car and fees in full,
or leave a non-refundable deposit equal to 25% of the total
cost of your vehicle. After the vehicle is paid in full, you
may then complete paperwork and take the car with you. If
you choose to only leave the 25% deposit you may then
leave the Auction to visit your bank or credit union to get
the remaining balance. Most Auction buyers utilizing
King County Auction financing will also be able to complete
the paperwork and take the car with them on Auction Saturday,
as well (bringing financial documents with you, like pay
stubs, landlord's address, etc., is key in speeding up the
financing process).
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When
do I get to take my new car home?
Take it
home just as soon as the pay off and paperwork are complete,
but no later than 5:00 p.m. on the Tuesday following the
Auction (or make arrangements with management for a later pick
up.) But please note, that if you win the bid on one of the
first cars on Auction Saturday, there may be a little delay as
we make room to get your new car out of the Auction line-up.
Paperwork requirements include: completing DOL forms and sales
contracts. The Auction staff handles all the DOL activities
for you and supplies temporary registration for your vehicle
on the spot. Then off you go in your new Auction car! (And
fast on the way to becoming the envy of your friends and
neighbors for your shrewd buying and money saving techniques).
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Price
Research:
After
you've attended our preview and have selected some vehicles to
bid on, we recommend that you do some price research. There
are several options available to you: on-line at
www.kelleybluebook.com. (To "book" vehicles at
www.kelleybluebook.com
, if vehicle mileage is not available, you could estimate
mileage by the "national average - rule of thumb" of
10,000 miles per year). Vehicle
trade publications, and the classified sections of the
newspaper can be also be helpful. Frequently, it's helpful to
compare the retail value, to the wholesale value of the vehicle(s) you have chosen - this can enable you to make a
more informed bid.
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Inventory
of Vehicles:
The
inventory of vehicles at King County Auction can vary from
month-to-month. Our average number of vehicles is 200 per
sale. Auction vehicles come from many sources: Repos, Law
Enforcement Seizures, Lease Ends, Fleet returns, County
Vehicles and more. (King County Auction will provide authentic
vehicle titles or their equivalent.) At any one Auction, there
can be vehicles from the mid to late eighties right up to
current model year. We want the buyers to have as much of a
selection as possible.
Note
that sometimes there are reserve prices that must be met with
a few vehicles. It is important that the bidders be realistic
when surveying our vehicle inventory - your fellow bidders
would never let you get away with, for example, a
fully-loaded, late model Jeep Grand Cherokee for $1500.
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It's
so easy!
And, as
always, our staff is available to answer any additional
questions you might have:
Call
us at 877-KING-BID ( 877-546-4243
)
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