Car Auctions in Chicago

Why choose Chicago used car auctions over the countless number of dealerships in the area? Well, that answer is easy. Car auctions offer individuals a fast, efficient, and thrifty way to purchase used auction cars and to potentially walk away from the car auction site with a deal far better than at any used car lot. And if you do your homework, you could easily save yourself hundreds or maybe even thousands of dollars on your next car purchase by choosing one of many cars for auction in the greater Chicagoland area.
 
But what exactly is a car auction? A car auction typically runs like any other auction you might attend in Chicago (see About Auctions to get a feel for the basics). The pieces of the puzzle remain the same: the auctioneer, sellers, bidders, and items up for bid (in this case, auction cars) up for sale. What is probably most consistent with any Chicago auction you attend, especially car auctions, is that you will have the same amount of fun, competition, energy, and excitement. And hopefully, you will be able to drive home in your very own auction car, purchased right here in Chicago, IL.
 
However, before heading off to a Chicago car auto auction, you will want to know what type of car auction it is, because some are not open to the general public. Some car auctions are private or for dealers only. However, most car auction sites will have a list of the car auctions at which you can attend and participate.
 
Most South Chicago car auction sites hold weekly auto car auctions, giving you the opportunity to get the make and model auction car you want without too much trouble. However, here are a few things you need to know before going to a Chicago car auction:

• Do your car auction research prior to the day of the car auto auction. If possible, check out the car auction site catalog (sometimes even available online) to decide on which cars for auction you may want to bid. Be sure to check out the blue book value for a car in that listed condition, and then determine your maximum bid.
• Ask about the terms and conditions followed at that particular car auction site. For example, you will want to know whether that Chicago car auction site charges a buyer’s premium, a fee that could make a difference in how much you’re willing to bid. Also, be sure to check what forms of payment you can use to purchase your auction car.
• Get a Vehicle History Report on any auction car you’re considering. To make sure you don’t drive home from that South Chicago car auction with something less than desired, try to get the Vehicle Identification Number (VIN) from the seller and run a thorough Vehicle History Report to make sure nothing fishy shows up. If something looks off, then keep looking.
• Account for any Chicago area traffic and arrive early to the car auction site so you can inspect the auction car (or cars) with an eagle eye. Be on the lookout for damaged rims, flood damage, a rebuilt title, uneven tire wear (a sign of bad alignment), excessive damage, and anything else that does not look right to you. If you aren’t savvy with cars, you may want to bring along a friend who is.
• Enjoy the competition of a Chicagoland car auction, but leave your “at-all-costs” mindset at home. You don’t want to get entangled in a bidding war and end up paying more than what you intended for your Chicago auction car. Decide prior to the car auction that sticking to your budget comes before walking away with the win.

Another important detail you will want to know about used car auctions is the light system used at many car auction houses in the greater Chicago area. The light system (red, yellow, green) is used to let buyers know how much information the seller has disclosed about the auction car, not about the car’s condition. Many people confuse a green light with “no problems,” but that is not the case. The light system used at Chicago car auction houses are all about seller disclosure.
 
So when cars for auction are brought up on the block, a green, yellow, or red light will be announced (or displayed visually) along with any other details about the car. These car auction lights typically mean the following whether you are in Chicago IL or elsewhere:

• Red: You will buy the auction car as is—with no arguments or arbitration. If you purchase an auction car on a red-light status, you simply cannot have buyer’s remorse; the car is yours if you’re the winning bidder. If you’re a first-time car auction participant or if you aren’t an experienced car mechanic, you may want to steer clear of a red-light auction car.
• Yellow: This light is the trickiest, whether you’re attending a car auction in Chicago, New York, or small-town America. It means that the seller may have disclosed some info about the auction car, such as mechanical defects or a salvaged title, but you may not have every detail about yellow light cars for auction. Therefore, the purchase could go either way.
• Green: You can generally feel confident about a green-light purchase, in terms of knowing what you're purchasing from the Chicago car auction. A green light does not mean you are getting an auction car free of any repairs, but you will generally know that the car has been inspected and that major repairs have been reported by the seller. Green-light cars for auction may be your best bet if you do not want to take a gamble.