What Strategies Can I Use in Online Car Auctions?

By Mike Richards Updated: 05/23/2019 Posted: 06/15/2017

Savvy consumers are quickly discovering that there’s an incredible new way to purchase used cars and salvage ones as well. It’s called online car auctions, and these auctions are completely changing the game when it comes to purchasing a vehicle. Namely, they’re making it possible for consumers to enjoy the savings on vehicles that have long been enjoyed by licensed dealers.

Of course, if you’re going to buy used cars in online car auctions, you need to have your head on your shoulders. In fact, you want to know what the best strategy is for using online car auctions in the first place! Let’s explore just what that strategy is.

Setting a Sensible Budget

Approaching online car auctions the right way begins with setting a sensible budget. Remember that online car auctions do not permit financing, so you’ll have to commit to making a full purchase.

But, when you buy vehicles in online car auctions, you need to factor more than just the price of the car into your budget. If you’re going to consider picking up a fixer-upper, for example, you need to account for post-purchase repairs. In addition, one needs to remember that auction fees will apply, and that one needs to pay for shipping and delivery.

Conducting Thorough Research

The next step in any successful online car auction strategy is knowing how to conduct thorough research. Naturally, this will all begin with taking a close look at the pictures of the vehicles upon which you might bid. But, you need to be willing to take things a step further.

When you’ve identified the cars upon which you wish to bid, use their VINs to request history reports through a third party. Yes, this will be something of an upfront expense, but it’s definitely worth it. What you learn in the history reports can often make your bidding decisions for you!

Knowing When to Quit

Online car auctions are exciting, there’s no doubt about it! But, this excitement can often cause inexperienced bidders to get in over their heads. For this reason, always keep your budget in the back of your mind. If you do this dispassionately, then you should always be able to tell when its time to push away from the table.

Using Your Auction Specialist

But, remember that you don’t need to make your bidding decisions in a vacuum. The auction specialist assigned to you by the online car auction site is here to help. This individual has extensive knowledge of the market. Therefore, he or she should be able to steer you in the right direction for finding vehicles that will meet your needs and budget.

Win Vehicles in Online Car Auctions Today!

Online car auctions are much easier than most would ever expect. The only way to see how this is the case is to sign up. So, find an online car auction site that works for you, and see what’s out there. You’ll soon discover how incredibly simple it is to save thousands when you use these online auto auctions!