online-car-auction
Buyer Tips

Online Car Auction: How Does It Work?

By Odet Garcia Updated: 05/23/2019 Posted: 10/31/2018

An online car auction is an excellent option for auto buyers that are looking for an incredible deal. Auto auctions are an affordable way to purchase a quality vehicle. However, making the buy at an actual auction can be confusing and intimidating. There are a few things you’ll need to know before you consider buying at an online car auction.

car auction

In most states across the country, a dealer license will be required to participate in a dealer-only auction. However, some online car auction sites provide users with the access they need. At Auto Auction Mall we do the bidding for you so you can get the ride of your dreams without the hassle of navigating the complicated auction buying process.

Further Reading

  1. How Does International Shipping work for U.S. Dealer Auto Auctions?
  2. How Does Shipping and Delivery Work with Online Car Auctions?
  3. 5 Ways to Make Car Auctions Online Work for You 
  4. Are Auction Cars Good to Buy?

Online car auctions give you access to a broader inventory. This will make it easier for you to find the car you want at a much lower price.

The basics of an online car auction

Register to a car auction website

The first thing you’ll need to do before buying a car is register to a website that provides online car auctions. Registering at Auto Auction Mall is effortless. You will only need to fill out a simple form and provide your name, e-mail address, and phone number. Registering to Auto Auction Mall will give you access to dealer-only auctions that offer excellent cars while saving thousands of dollars in the process.

online car auction

Make a security deposit

Once you have a registered account, you will need to make a security deposit that will give you Buying Power. The deposit must be 10% of the amount you wish to spend on the car you will place a bid for. For example, if you wish to buy a car for $8,000 you will need to make a deposit of $800. However, if you wish to buy a car for $3,000 at Auto Auction Mall, the deposit amount must be $400 because it is the minimum security deposit amount. The security deposit acts as an assurance that you will complete the purchase of the vehicle.

Search for your car and place a bid

After you have taken care of these two main steps, you are ready to search for your car. Start by either searching from the 200,000-plus vehicles listed on our website at AutoAuctionMall.com to find the perfect car or just tell one of our Auction Specialists what types of models you’re interested in so they can find one for you.

online car auction

As you browse, be sure that you pay attention to vital information on the car. You can look into vehicle history reports and insurance repair estimates. Establishing what the full cost of the car will be, and not just the bidding price, is an important practice when buying a car. With that covered, you are ready to place a bid or use Auto Auction Mall’s Buy Now option.

Enjoy your new car

At Auto Auction Mall, once the car is yours we give you some options on how to get it to you. Whether it’s shipped domestically or internationally, we work with many shipping companies to get you the best rate. We also provide and handle all of the necessary paperwork along the way to make things as streamlined and convenient as possible for you.

As you can see, it’s a simple process that can give you many benefits. Just think of it as a stress-free way to get that next great vehicle – all without breaking the bank.

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