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Discover the Benefits of an Auto Dealer Auction

Date: 05/17/2017 |Category: Car Auctions

How recently have you purchased a new or used vehicle? Whether it was within the past year or even the past ten years, you know the drill. You head to the different lots, do some comparison shopping, and when you are pretty sure about what you want, you begin to negotiate with the sales person. There is often the need to deal with the financing, registration and other paperwork, and then in a few days or so, you can head to the lot and complete the deal. This is relatively easy, and it might be why you think that an auto dealer auction would not be such a simple way to get a car or truck.

Here’s the thing, as you drive off the lot, that new or even used car is going to lose a substantial amount of “value”. This is because it has been marked up to the market price, plus has the different fees and taxes tacked on. You are paying a serious premium for the convenience of buying off the lot, and yet you could save enormous sums as well as all kinds of time and energy by finding a way to participate in an online auto dealer auction.

What Is an Auto Dealer Auction?

There are a few ways that you might see an auto dealer auction run. There are some that are local and in-person, where licensed dealers alone are able to bid on and buy cars. There are also online auctions in which those same licensed dealers get their pick of the like-new, used or salvage vehicles.

Then, there are premium online auto dealer auction sites that allow you, the non licensed buyer to get your chance at the amazingly affordable cars or trucks available.

While you might already be thinking of reasons that it would be better, wiser and even easier to stick with the classic “off the lot” purchase method, just consider the many benefits of auto dealer auction sites online.

  • They save tons of money – It is not usually hundreds, but thousands that can be saved when you buy through an online auction. After all, dealers are buying these cars and then marking them up for sale. If they could not make the kinds of profits needed to remain in business, they wouldn’t buy from the auctions. Imagine buying at the price that they pay even before most buyers see the vehicles!
  • They are amazingly convenient – You can, quite literally, buy a car from the comfort of your living room, dining room or bedroom – even in your pajamas. This is because the online dealer auctions are just that – online. You can register your account, put down your deposit and then work with an agent to identify the vehicle you want. They handle the bidding and all of the rest.
  • They give you many choices – Lots or dealerships have only their own inventory, and tack on fees for accessing other lots. The choices in dealer auctions are immense, and nothing costs more because it is not currently part of a dealer’s inventory.

There are many reasons to buy at a dealer auction, and you may want to register with a reputable site right away.

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  • User Registration
    • What are the rules regarding new customers and customers not in good standing?
    • Can I just buy one car?
    • I do not have a dealer license; can I bid or buy a car?
    • What information do I need to provide to register?
    • Do I have to pay to register?
    • Do I need to register to bid?
  • Auction Process
    • Do you offer live bidding?
    • What is the difference between, “auction” car, and a “buy now” car?
    • What is a Reserve Price?
    • What does the bid amount include?
    • How does the auction process work?
  • Deposits and Pre-Bidding
    • Is the security deposit refundable?
    • How do international customers make a deposit in their account?
    • How does the security deposit process work?
    • Can I cancel a bid?
    • Can I inspect vehicles prior to auction?
    • Is automatic bidding or pre-bidding available?
    • What is the total bidding amount?
    • What is a bid in active status?
    • What is a bid in pending status?
    • What is the best way to win an auction?
    • How do I search for a car available at auction?
    • How does the auction process work?
  • Post-Auction and Payments
    • What does a customer need to do to get the title to a vehicle?
    • How do I pick up the car I purchased?
    • Are there storage fees if I cannot pick up my vehicle immediately?
    • Do you Issue Temporary Plates?
    • Can I pay in cash?
    • Are there late payment penalties?
    • What are the payment terms?
    • How do I pay for an auction?
    • What if I fail to may a payment as required?
    • When is the balance due on a purchase?
    • When will I be notified of the results of the auction?
    • Bidding has ended. Is my bid the highest?
    • Why did I receive notice after bidding ended that my bid is no longer the highest?
  • Shipping and Delivery
    • How will it be mailed to me?
    • When will I receive the title?
    • Can I have the title mailed to an address/name different from the address/name on my account?
    • I have an agent working on my behalf can this person pick up my vehicle?
    • Do you offer delivery?
    • When can I pick up a car I have won at auction?
  • Understanding Salvage Titles
    • What is NMVTIS and how is it used?
    • Understanding the salvage title/rebuilt title distinction
    • What are the different types of titles a vehicle may have?
    • I received a different type of title than the one in the description. I received an equivalent title from a different state. Why?