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What to Know when You Buy a Used Car in a Dealer Auction

Date: 07/31/2017 |Category: Car Auctions, Used Cars

Consumers have been quick to discover the myriad benefits that online dealer auctions for used cars afford. Through websites where you gain access to dealer auctions, you’re able to enjoy a level of savings once thought unthinkable. In fact, some buyers have found they’re able to save as much as 80% on the cost of a used car. Beyond this, there are more benefits, including the convenience of being able to shop a huge selection of vehicles from the comfort of your own home.

If you’ve yet to try dealer auctions online for used cars, then you’ll want to make sure you go into the process prepared. With that in mind, we’re going to take a look at three key things you should know when you buy a used car in a dealer auction online.

There Are More Costs than the Final Bid Price

When you’re bidding in auctions, it can be all too easy to get caught up in the final bid price of an item. Unlike with auctions for ordinary consumer goods, though, there are additional costs you’ll need to factor in when setting your budget for dealer auctions.

For one, remember that you’ll need to pay for pickup and delivery of any vehicle that you win in a dealer auction. In addition to this, remember that some post-purchase repairs might be necessary. Finally, be sure to understand whatever auction fees may apply with the website that you’re working with.

Salvage Cars Might be a Great Option

As you look at the inventory of cars available through dealer auctions online, you’ll likely come across many salvage vehicles. Many who are new to these auctions are quick to write salvage cars off, but this is a mistake.

On balance, salvage cars can often present the savvy bidder with the best chance for an incredible deal. Provided that you’re able to make repairs yourself, or else know an affordable and reliable mechanic, the total cost of getting a salvage vehicle back on the road might be far less than the purchase price of an ordinary used vehicle.

Conducting Thorough Research Is Paramount

Whether bidding on salvage or new cars, there’s one thing that’s vitally important to finding success in online dealer auctions: You have to conduct research.

Ultimately, when you’re trying to determine what to bid and whether or not a vehicle is worth it, the more knowledge you have the better. For this reason, be sure to note the VIN of cars that you’re interested in. If you’re really interested in pulling the trigger, use this VIN to request a history report through a third-party like CarFax. What you learn might just make the difference between bidding or not bidding!

Online Car Dealer Auctions Offer the Best Deals

As long as you understand all of the above, you should have tremendous success when using online dealer auto auctions. Simply put, there’s no more convenient and affordable way to buy a used car. So, try online car dealer auctions today, and see for yourself why so many others are using them.

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  • 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?
  • 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?