How Much Can I Expect to Save in Online Auto Auctions?

By Mike Richards Updated: 07/26/2022 Posted: 06/19/2017

People are using a number of different methods to buy used cars these days. No longer do used car dealerships have a monopoly on the market! This is because much of the used car buying process has gone online, especially due to the rise of online auto auctions.

It’s these online auto auctions in particular that have captured the interest of consumers. This is because they offer a number of benefits that one simply can’t get anywhere else!

Naturally, one is able to enjoy the unparalleled convenience of shopping for and buying used cars online. In addition to this, one is able to enjoy a massive selection, making it possible to find precisely what you’re looking for. But, the biggest benefit of all is the savings.

If you go about using online car auctions in the right way, the potential for savings is absolutely incredible. But, how do you do that, and how much can you save? Let’s explore.

Going Used or Salvage

When you use online auction to purchase vehicles, you’ll essentially have two categories of vehicle to choose from: used and salvage. Depending upon your goals for saving money when buying a vehicle, you may wish to consider one over the other.

Without a doubt, salvage cars will be the cheapest available through online auto auctions. Do not make the mistake of believing that this is because all of them require significant repairs. As it turns out, some salvage cars – like theft-recoveries, for example – may be in close to or fine working condition.

Research Maximizes Potential Savings

In order to maximize your potential savings when using online car auctions, research will be of paramount importance. Thankfully, these websites make it easy to conduct thorough research of any vehicle upon which you might wish to bid.

For one, you should always have access to a vehicle’s VIN. This will allow you to request a history report through a third party, with which you can learn a great deal. In addition to this, many online auto auction sites provide users with access to auction specialists. These individuals can provide tremendous insight into different vehicles and can even arrange for in-person inspections should you deem them necessary.

Minimizing Additional Costs

By conducting research as outlined above, you should be able to identify cars that will require minimal if any post-purchase repairs. But, there are more costs to consider. For one, you will need to pay for shipping and delivery. Here your auction specialist will be of great use. In addition, auction fees will generally apply with online car auction websites, so make sure you research what those fees are.

Save Thousands in Online Car Auctions

Provided you take all of the above advice into account, you should be able to save a tremendous amount on vehicles in online car auctions. In the end, how much you’re able to save comes down to your perspicacity and flexibility. However, you should find that it’s quite easy to save thousands when you use these auction sites.