Online car auctionsNovember 28th 2018
Vehicles aren’t exactly cheap to own. The fact they depreciate in value at a fast rate doesn’t help much either. Still, the promise of convenience and ease of mobility makes it impossible for many to avoid car ownership. The rising popularity of the used car market, therefore, comes as no surprise, since people typically care more about functionality than prestige. The used car market presents different options for making smart car purchases.
Back in the day, dealerships were the only relevant players in the used car market. However, with the proliferation of new styles of selling, prospective car owners are beginning to appreciate the online market as a haven for choice across all price ranges. You can buy cars of excellent quality at ridiculously cheap prices if you carefully navigate your way in the auction market. But this is not the only perk you get from purchasing your vehicle at an online auction. Online auctions promise unbeatable convenience that comes with little to no additional costs. You can select a car, bid, pay for the vehicle, and bring it home without leaving the comfort of your home. You’re probably already thinking about purchasing your vehicle at an online auction. Below is a short guide on the things you need to know about buying a car at an online auction.
It’s the easiest way to buy a below market value car
There is no easier way of purchasing a vehicle well under market value than through online auctions. The great deals you can get make it more appealing to companies, private buyers and motor dealers. Numerous auto auction centres in Australia organise regular car auctions. In our Search Car Auctions tab, you can view weekly timetables and find your nearest motor auction location. All you have to do is register for the auction before bidding. Online auctions allow you to check out the inventory pre-auction, so you’d know the kind of vehicles they have on offer. Typically, an online auction by a large auction company would boast a wide range of vehicles. The sheer number of options is a part of what makes online auctions appealing. However, the options could also mean you’ll get tired when looking through the inventory. Thankfully, online auctions allow you to search their inventories based on your preferences.
Research is important
As mentioned earlier, you’ll see all makes and models of cars and, of course, varying states of condition. Check out the condition reports of cars you’re interested in and see if you’re fine with their current condition. At some auctions, the older model cars do not come with condition reports. If you must bid for such cars, we recommend you go in person to see the vehicle. Making a decision from a place of zero knowledge is a choice you’re likely to regret.
Cast a wide net
While it’s good to have your eye on a car before the auction date, you’ll be doing yourself a favour if you are open to many options. Unlike brick and mortar auctions, online auctions are open to individuals and dealers all over the country. Naturally, you’ll expect a stiffer competition for available vehicles. Once a bidding war ensues and the price of your dream car may well go out of your budget, and the next vehicle might be a much better deal anyway.
Take advantage of all the help you can get
Online auction companies know that many people won’t have much experience in the process of buying at online car auctions. Thus, some of them have auction specialists that advise users so they can make informed decisions. They’ll help you with searching, bidding, winning bids, and other relevant details. If the auction company has such a resource, you’ll be shortchanging yourself if you do not use it.
Pay promptly to confirm your interest
Although some may offer it, when you’re buying at an online auction, you shouldn’t expect any form of financing. You can only purchase with full payment upfront and you don’t have much time in most cases. Most auction companies give winners a grace period of few business days. A failure to complete your final payment within the nominated period of time could see you lose your initial deposit.
How to bring the car home?
If you’re buying from a company that is outside your state or far from your home, you should expect to incur extra transport costs. Most auction companies have partners that can help winners truck their cars to the desired locations once their full payment has cleared. You can make this arrangement without leaving the comfort of your home and many people that purchase from car auctions do this.
There are a lot of advantages to buying at online auto auctions, from having extra data and information on each vehicle, the ability to view multiple auctions at one time, and most importantly, should you miss out on the day, not having had to travel away from your computer desk. You do not need to leave your home in order to follow any of the steps involved here and you’ll still get a great car at a cut of the market value price. We can bet there’s no other car purchase option that beats that. The next time you’re looking to save big on your car purchase while enjoying the maximum convenience possible, an online car auction should be the option that comes to mind.