Consumers across the country are quickly discovering the myriad benefits of online dealer auto auctions. Through websites that offer access to dealer auctions, auto buyers can enjoy an incredible array of choices and the convenience of shopping from home. What’s better, though, is the fact that auto buyers can often save thousands on used, salvage and like-new vehicles.
Of course, in order to actually save money in dealer auctions online, you have to bid smartly. For this reason, you should strive to follow the five following rules when participating in online dealer auto auctions.
Rule #1: Be Cognizant of Shipping and Delivery Expenses
In setting a budget for dealer auctions online, it’s important to remember there are expenses beyond merely the vehicle itself. Due to laws and regulations, you will not be able to pick up a vehicle you win yourself. Instead, you will need to contract with an authorized agent and shipper in order to take delivery of your vehicle. Also, do not forget that some auction fees will apply.
Rule #2: Leaving Wiggle Room for Post-Purchase Repairs
In addition to the above, remember also that you may need to make repairs to your vehicle post-purchase. This may not be necessary with many used vehicles, but it could be. When you’re bidding on salvage vehicles, though, this will definitely be a factor. So, make sure you’re leaving some wiggle room in your budget for any vehicle repairs that might be necessary.
Rule #3: Always Stick to Your Budget
Taking the above into account, along with what you actually want to spend on a vehicle, you should arrive at a sensible budget. As you engage in the bidding process, make sure that you’re sticking to your budget. If you allow yourself to eat into your ‘wiggle room’, so to speak, then you could get yourself into trouble.
Rule #4: Know When It’s Time to Walk Away
For the above reason, be sure you know when it’s time to walk away. You may get invested in a particular vehicle, but if the bidding gets too high, then don’t be afraid to walk away. It might be difficult, but remember this: There are thousands of cars available through dealer auctions online. For this reason, it shouldn’t be difficult at all to find another vehicle (even one of the same type) that will meet your needs.
Rule #5: Never Skip Research… Never!
Getting the best deal in dealer auctions online requires that you be informed. For this reason, always thoroughly vet any vehicle upon which you wish to bid. To do this, you can use the VIN to request a vehicle history report through a third party. In addition, and particularly if you’ll be spending a significant amount, you may also consider hiring a third-party to enter the auction site to inspect the vehicle.
Online Auto Dealer Auctions Are Easy
If you take the above advice, you’ll find that it’s easy to save thousands in online auto dealer auctions. Remember that you don’t have to go it alone, though! Any good site will give you access to an auction specialist, who can ensure that you’re bidding smart and only buying a vehicle that’s right for your needs and budget.