What is Salvage title?

What to Know as a Complete Newbie to Car Dealer Auctions Online

By Mike Richards Updated: 05/22/2019 Posted: 08/01/2017

If you’ve been bargain hunting for a used car, then you’ve likely come across a service known as online car dealer auctions. In doing so, you’ve likely read that these auctions provide you with the opportunity to save thousands on a used or salvage car. Well, the claims are true, and there are even more benefits than this!

Most notably, online car dealer auctions allow you to enjoy the benefits of having a huge selection. Regardless of what type, age or kind of car you’re looking for, you’ll be able to find it in an online dealer car auction. In addition, you’ll be able to enjoy this incredible selection from the comfort of your own home! Gone are the days of having to travel to a used car dealership to buy a vehicle!

Given the above benefits, you will definitely want to give online dealer car auctions a try. With that in mind, here are some things you’ll want to know as an online car dealer auction newbie.

The Factors that Make Up Your Budget

Figuring out your budget for a used car in an online auction is a bit different. Of course, the substantial portion of your budget will go toward the purchase of a used or salvage car. There are other things to keep in mind, though.

First, remember that you will need to pay for shipping and delivery of any vehicle that you win. Also, depending upon the state of the vehicle you purchase, there may need to be post-purchase repairs made. Finally, there are usually relatively modest auction fees that will be assessed.

The Difference Between Salvage and Used Cars

The vast majority of vehicles that you find in online dealer car auctions will fall into one of two categories: used or salvage. The used cars that you find in these auctions will be just like those you’d find on a dealership’s lot. In fact, many used car dealerships stock their inventories with vehicles purchased through these auctions.

It’s salvage cars that warrant additional consideration. These are vehicles that have – for one reason or another – had their policies paid out by an insurer. In some instances this could be because a vehicle has been ‘totaled’. However, there are other reasons, for example a vehicles that have been the subject of theft and then recovered. Given this, salvage cars present perhaps the very best chance for getting an incredible deal on a vehicle in online dealer car auctions.

Research and Preparation Are the Difference Makers

Using online dealer auctions to buy a used car is ultimately about getting the best deal. In order for this to be possible, preparation and research will be essential. Before starting your search, be sure to get a feel for the prices of vehicles in which you’re interested. You might also consult the auction specialist assigned to you for help in this arena. Finally, be sure to request vehicle history reports through third parties for used and salvage cars you wish to bid upon.

With all of the above in mind, you should be able to use online dealer car auctions to your tremendous advantage! So, give them a try, and see for yourself how countless other auto buyers are saving thousands when they buy used and salvage cars!