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How Do I Win a Car in an Online Auto Auction?

Date: 06/13/2017 |Category: Buyer Tips, Car Auctions

These websites provide online access to dealer auctions taking place across the country. Because of this, consumers can choose from an ever-rotating inventory of thousands and thousands of used and salvage cars from the comfort of their own homes. In turn, this allows consumers to potentially save thousands of dollars on their automotive purchases.

But, in order to reap those kinds of savings with online auto auctions, you need to know how to make a winning bid. For this reason, we’re going to review the steps that online auto auction newcomers should take when they try to buy salvage and used cars online.

Set Your Budget

Finding success with online auto auctions always starts in one place: setting a firm budget. This budget is key, because you don’t want to find yourself getting carried away when the bidding gets heated.

In terms of setting this budget, there are a few factors to keep in mind. The first is, of course, the final bid price of the vehicle. In addition to this, though, you will also want to leave room for post-purchase repairs, particularly if you’re going to bid on salvage cars. Also, remember that there are auction fees that will apply and that you will need to pay for shipping and delivery.

Define What You’re Looking For

With a budget set, you need to define what you’re looking for in an online auto auction. Naturally, you’ll want to have some idea of what make and model you’re looking for, but there’s another thing to consider.

Online auto auctions give you access to both used and salvage vehicles. If you’re shy about making repairs, then you’ll probably want to stick to used vehicles. However, if you’re not shy about repairs, then salvage cars may be the way to go. They’re by far the cheaper of the two categories, and there are many diamonds in the rough to be found among an online auto auction’s inventory.

Work With Your Auction Specialist

As a newcomer to online auto auctions, it’s important that you take every bit of help you can get. This way you’ll be able to enjoy the kinds of savings that are possible. For this reason, make sure to take full advantage of the auction specialist who will be assigned to assist you. This person can offer their expert opinion of the marketplace, devise bidding strategies, search for vehicles not available online and so much more!

Winning, Shipping and Delivery

With the help of your auction specialist, bidding on and winning a vehicle in an online auto auction should be incredibly easy. Given that, you’ll find that it only takes a few clicks of your mouse to enjoy the same kinds of savings that so many other consumers are. So, try online auto auctions today!

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  • User Registration
    • Do I need to register to bid?
    • Do I have to pay to register?
    • What information do I need to provide to register?
    • What are the rules regarding new customers and customers not in good standing?
    • I do not have a dealer license; can I bid or buy a car?
    • Can I just buy one car?
  • 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?