Buyer Tips

Advantages of Buying Used Cars at an Online Auto Auction

By Odet Garcia Updated: 06/09/2023 Posted: 05/12/2020

Buyers can step into an online auto auction with many questions and doubts. It’s normal. These auctions are gaining popularity, but they can also be very controversial. There are still some skepticals that worry about scams. But the truth is, buying used cars at online auto auctions can have many advantages. We’re going to tell you all about it in this article.

online auto auction

Before we go into more details, we should first take a look at the types of auctions available. There are two main types of auctions: public auctions and dealer auctions. Public auctions are open to the general public. Dealer auctions, on the other hand, are only available to buyers that have a dealer license. This means that these auctions are exclusive for dealers. This is where online auto auctions come in.

Further Reading

  1. How To Buy a Used Car Through Online Auto Auctions 
  2. Rebuild Vehicles: Buying at Insurance Salvage Auto Auctions Online 
  3. Advantages of Online Auto Auctions Every Nigerian Should Know Of 
  4. About Copart Salvage Auto Auctions and Using Auto Auction Mall to Help You Buy Cars from Copart 

Buying at an Online Auto Auction

Online car auctions can seem confusing, but they are actually a very simple process. Generally every online auto auction platform works the same way. First, you should register for an account. Next step is making a deposit to your account. After this is done you are ready to place the better bid. If you need it, you can also have the guidance and help of a live auction specialist. 

Now, you may be wondering how are online auto auctions different from a dealership. Well, it is a different process. This is why there are many advantages to purchasing a car online. 

Exclusive Dealer Auctions

For starters, online car auction platforms give you access to major auctions that are exclusive for dealers. These platforms have their own dealer license that buyers can use to participate in auctions. This means that you can purchase your vehicle from the same auctions where dealers get their inventory. Exclusivity is a major advantage.

Wholesale Prices

Another one of the main advantages of online vehicle auctions are prices. Buying a car online can help buyers save thousands of dollars. Since online auto auctions are exclusive for dealers, prices are also targeted for dealers. This means that buyers can purchase a vehicle at the same price as dealers normally do. 

The great advantage of wholesale prices is that you can purchase a vehicle that would normally be over your budget at a dealership. Of course, dealers mark-up the cars they sell and that were bought at auctions.

Large Variety of Vehicles

Major car auction houses have a very broad inventory, including motorcycles and SUVs. Buyers can find used cars with different titles, like salvage cars, and even insurance cars. Even repossessed cars can be a good find for a buyer. These types of cars can even be in almost brand new conditions, and at a very low price than a car at a dealership.

Finding many options is an advantage that buyers can’t have at a dealership. Ultimately, the budget can be very strict and this narrows down the options with dealer prices. However, at online car auctions there are much more options thanks to wholesale prices.

You Don’t Have to Leave your House

This may be the greatest advantage of an online auto auction. You can purchase your vehicle from the comfort of your own home. Doing this can help you save money and gas by not having to go to any dealership. You also save time by checking many auction houses without having to move from one place to another.

Finally, many online auto auction sites also assign you an auction specialist that can guide you through the whole auction and bidding process. This makes the process easier and very simple for buyers. As you see, there are many great advantages to buying at an online auto auction. Don’t wait any longer to try one out, online auto auctions are an excellent option right now.