Top 10 Tips for Bidding on GSA Auction Cars
The U.S. General Services Administration (GSA) auctions off thousands of used cars and trucks from its government fleet yearly. These vehicles can be a great deal, but you need to know what you’re getting into. Here are ten tips for buying GSA auction vehicles:
- Do your research. Check out the GSA Auctions website and read up on registering, sales rules, fees, locations, and catalog listings before you bid. This will help you bid smarter.
- Know the car’s history. GSA provides vehicle identification numbers so you can research maintenance records, accidents, ownership history, and more through Carfax or other sources.
- Inspect thoroughly before buying. You can only start cars or test drive on-site at some auctions. Inspect wear and tear inside and out.
- Consider required repairs. Most GSA auction cars are sold “as-is” and may need mechanical work, body repairs, or detailing that can add to the total cost.
- Factor in fees and taxes. On top of your bid price, you will pay additional buyer’s fees, taxes, and title/registration costs. This can add hundreds or thousands to the total.
- Arrange financing and insurance ahead of time. GSA requires payment in full within five days, so don’t bid if you don’t have funding lined up from your bank, credit union, or other arranged sources.
- Know the location logistics. If you win a bid, you typically only have 2-5 days to pick up the vehicle, which may require renting a car trailer, taking time off work, or paying someone to transport it.
- Watch out for salvage titles. Some GSA vehicles have branded titles due to previous damage. Make sure you understand what you’re getting and the resale limitations.
- Set a max bid threshold and stick to it. It’s easy to get caught up in bidding excitement, so know your limit based on required repairs and fees factored in.
- Be vigilant about scams. If someone requests unusual up-front fees or payments outside the GSA process, it is likely a scam attempt. Report any suspicious activities.
With the proper preparation and expectations, scoring an auction deal on a GSA car can be a rewarding experience. Use this advice to bid smarter and own better.