The market for automobiles has been changed forever by the advent of online dealer auctions. Some websites that provide access to dealer auctions online now allow for ordinary consumers to participate in these auctions. Because of this, these auto buyers are now capable of enjoying the level of savings that’s long been the sole purview of dealers. These are savings that in many instances can total in the several thousands of dollars.
Still, despite the obvious benefits of online car auctions, there are many consumers who remain skeptical. This is especially true when it comes to buying a salvage car in an online dealer auction. Not only are people unsure of what an online dealer auto auction actually entails, they also fail to understand what a salvage car really is.
In order to allay common skepticism, we’re going to explore both topics below. In the end, you’ll likely see why it may make sense for you to buy a salvage car online in a dealer auction.
What Are Salvage Cars?
Many consumers make the mistake of believing that salvage cars are junk vehicles. While this may be true in some cases, it is definitely not true in all or even the majority of cases. Simply put, salvage cars are vehicles for which the insurance policy on the vehicle has been paid out at 75% or greater to the insured. (The precise percentage varies depending upon the state.)
An insurer may have a number of different reasons for paying out a policy. It may be due to a catastrophic collision or accident, or it may have to do with a vehicle being stolen. In this latter case, as an example, a vehicle will be designated as salvage regardless of its present state.
What Are Online Dealer Auctions
Dealer auctions are, of course, nothing new. They take place across the country each and every day. These are auctions wherein any number of used and salvage cars may be auctioned off. However, the majority of these auctions have been largely closed to the public.
Online dealer auctions have changed all this. There are now some websites that exist that allow ordinary consumers to access these auctions online. They function in much the same way as any other online auction site you may be familiar with – like eBay, for example. Much like these other websites, online dealer auctions are perfectly safe, offering a variety of protections for their users.
See What Salvage Cars Are Available to Buy in Online Auctions Today!
If you’re looking to purchase a vehicle at a fraction of its cost, then salvage cars are an excellent place to start. Through a search in an online auction, you should be able to find a salvage car to buy that meets your needs. If you’re looking for something that’s in serviceable to good condition, start your search with theft-recovery and repossession vehicles. If you’re looking for a project for your garage, broaden your search to all kinds of vehicles.
So, consider your options when it comes to salvage cars, and believe in the safety that online dealer auto auctions provide. Going this route just might be a decision that saves you thousands upon thousands of dollars on your next vehicle!