The bidding at car auctions can be fast and furious, so keep your eyes and ears open.

When it comes time to buy a new or used car, most Americans head down to a local dealership and take a walk around the lot. But there's a far more exciting way to purchase a vehicle, and that's at an automobile auction, where cars of all makes, models and qualities come up on the block. With a little knowledge and a cool head, you can pay a visit to a car auction and come away with a great vehicle at a great price. You might even have a whole lot of fun in the process!

Craig Pasquinzo is a producer for the Long Term Care Network and has been a car lover since he was a kid. His interest started early with model cars and progressed to rebuilding and customizing real vehicles in high school. Here he gives us a peek into the world of auto auctions:

• Variety and value. The best thing about auto auctions, Pasquinzo says, is that you're likely to see a wider variety of vehicles that you'd see on a typical dealer's lot. And there's always the possibility of getting a fantastic price, depending on how the bidding has been going that day.

• Know the car. It's always important to know what you're looking for and what you're looking at, so do your homework beforehand. Know the value of the vehicles you're interested in and don't be shy about taking a really close look at the actual cars that are up for auction. If you're going to be bidding your money, you'll want to know about any potential problems.

• Know your budget. Set basic limits before you start bidding and try not to get carried away. You may be bidding against seasoned veterans or professionals who have deeper pockets than you do, so you may have to walk away from something you like. Conversely, on a good day you could end up with exactly what you want for far less than you were prepared to pay.

• Fast bidding. According to Pasquinzo, bidding at auto auctions can be very fast, so keep your mind focused. You may not get the car you're after the first time out, but participating in an auction can be a lot more fun than visiting dealer lots, so show up for the thrill of it, and have a ball!

Insurance Auto Auctions
home.iaai.com

US General Services Administration: Fleet vehicle Auctions
www.autoauctions.gsa.gov

BSC America Auction Group
www.bscamerica.com/ag.html

Kelley Blue Book
www.kbb.com

Auto World
www.autoworld.com/autopr.htm