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What Do I Need to Know About Car Auctions?

Date: 10/22/2015 |Category: Car Auctions

Anyone interested in auction car sales needs to take the time to learn more about what they are, how they work, and whether it is the right buying option for them before they participate in one. Auctions can be a fantastic way for buyers to save quite a bit of money on the cost of the vehicle and to find many different makes and models that appeal to them. However, it is important to understand what it really means to buy from an auction.

You Can’t Return It

Most of the auction car sales are “as is”, meaning you are buying the vehicle as it is, and this means you will not be able to return it, as you might with a traditional dealership, if there are issues. You will not have a warranty for the vehicles either.

This means it is very important that you take the time to research the history of the vehicle through the VIN and get a history report. Know what type of damage the vehicle has and determine whether it is worth buying and repairing. However, if the auction misrepresents the vehicle and is not forthcoming about the issues it has, you have the right to notify the auction and not to buy.

It Could Need Repairs

The vehicle might need repairs before you can get a rebuilt title and get the vehicle on the road. Some of the cars have salvage titles, and this means different things to different vehicles. They may need to have substantial repairs that are more than you would be willing to pay for and make. Others are easier to repair and get on the road.

Know the type of title the vehicle has, as well as the amount and type of damage it has, so you can determine whether it will be a good buy for you or not. If you do not take the time to understand this, you may not be happy with your purchase.

Some Auctions Are Only for Dealers

One of the other things you should know about auction car sales is that some are not open to the general public. Some of the auctions are only for those who have dealer’s licenses, and this means you probably do not qualify.

Don’t worry, though. You can still get access to the auction by working with a dealer that can act on your behalf. You can get information on the vehicles available, let the dealers know how much you want to bid, and they will take care of the rest. As mentioned before, though, you need to research the vehicle to know exactly what you are buying.

Even though you need to be careful with auction car sales, you will find that the benefits outweigh the drawbacks as long as you research before buying. You can find some fantastic vehicles that need a little care before you get them on the highway again. Do not let the fact that it is an auction scare you away from buying. It can be a great way to find just what you need.

Explore our Vehicle Auctions, as well as finding more information about How These Auctions Work.

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  • Auction Process
    • Do you offer live bidding?
    • What is the difference between, “auction” car, and a “buy now” car?
    • What is a Reserve Price?
    • What does the bid amount include?
    • How does the auction process work?
  • Deposits and Pre-Bidding
    • Is the security deposit refundable?
    • How do international customers make a deposit in their account?
    • How does the security deposit process work?
    • Can I cancel a bid?
    • Can I inspect vehicles prior to auction?
    • Is automatic bidding or pre-bidding available?
    • What is the total bidding amount?
    • What is a bid in active status?
    • What is a bid in pending status?
    • What is the best way to win an auction?
    • How do I search for a car available at auction?
    • How does the auction process work?
  • Post-Auction and Payments
    • What does a customer need to do to get the title to a vehicle?
    • How do I pick up the car I purchased?
    • Are there storage fees if I cannot pick up my vehicle immediately?
    • Do you Issue Temporary Plates?
    • Can I pay in cash?
    • Are there late payment penalties?
    • What are the payment terms?
    • How do I pay for an auction?
    • What if I fail to may a payment as required?
    • When is the balance due on a purchase?
    • When will I be notified of the results of the auction?
    • Bidding has ended. Is my bid the highest?
    • Why did I receive notice after bidding ended that my bid is no longer the highest?
  • Shipping and Delivery
    • How will it be mailed to me?
    • When will I receive the title?
    • Can I have the title mailed to an address/name different from the address/name on my account?
    • I have an agent working on my behalf can this person pick up my vehicle?
    • Do you offer delivery?
    • When can I pick up a car I have won at auction?
  • Understanding Salvage Titles
    • What is NMVTIS and how is it used?
    • Understanding the salvage title/rebuilt title distinction
    • What are the different types of titles a vehicle may have?
    • I received a different type of title than the one in the description. I received an equivalent title from a different state. Why?
  • User Registration
    • What are the rules regarding new customers and customers not in good standing?
    • Can I just buy one car?
    • I do not have a dealer license; can I bid or buy a car?
    • What information do I need to provide to register?
    • Do I have to pay to register?
    • Do I need to register to bid?