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Does your company car need to be replaced? Or do you need to add to your company’s fleet of vehicles? Then you should check out online auto auctions. That’s because you might just find there the perfect vehicle for your company.
Until recently, buying a used car involved wandering a car lot in search of a vehicle you wanted. Then you would have to deal with the car lot’s high-pressure selling tactics and salespeople paid on commission.
However, today’s technology makes aggressive sales pitches a thing of the past. These days, smart shoppers take advantage of online auto auctions instead. What’s more, many people are finding that they enjoy shopping these online car auctions from home.
Nonetheless, if you’re going to shop for a car at online auto auctions, some background investigation is essential.
Cars end up as at auctions for a variety of reasons. Among these reasons are high mileage, accident damage, or mechanical issues. Some cars even end up at auctions as salvages. Therefore, you need to read the description for each car carefully before you place a bid. It will also be important to note where the car is physically located. If you are bidding on a car, it could be anywhere in the country. Therefore, you want to double-check its proximity to you.
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Know the Car’s Value
Begin your search by learning the worth of the vehicle you have in mind. You wouldn’t want to bid $3,000 for a car is that was only valued at $1,500 by Edmunds or Kelley Blue Book, for instance. That would be foolish.
Moreover, if it’s a local auction, ask to take the car for a test drive and have a mechanic evaluate it. Finding out that a car you have already purchased needs lots of repairs could spell disaster for your company’s cash flow. On the other hand, if the car is not local to you, try to locate a mechanic near to where the car is. Ask that person to check the car out before you agree to purchase it. However, this may not always be feasible. Therefore, you might end up bidding on a car sight-unseen.
You Might Have Extra Costs
Odds are the car has a history of owners who were not exactly careful owners. Therefore, you might need additional funds for immediate repairs. Also, if you’re purchasing a vehicle from another state and it is not fully operational, you might have to make arrangements for the car to be transported.
Remember, cars that you acquire through online auction auctions are not likely to last as long as new vehicles. Therefore, know each car’s history. This can help you to determine what repairs might be necessary.
To find out more about cars at online auto auctions, obtain the Vehicle Identification Number (VIN). You can use this number to search a site such as Carfax or AutoCheck. These sites will deliver information about any reported incidents associated with that vehicle, such as an accident or flood damage.
Keep One Runner-Up in the Mix
You should choose multiple cars in online auto auctions, in case you get outbid for your first choice. That’s because you’ll always have competitors in the bidding.
What’s more, always bid an odd-number amount. That’s because most people will be bidding in even numbers, such as $500. However, you could win a car with a bid of $501 instead of a bid for $600. Then you could use the $99 you saved for any repairs or other costs.
However, some auction sites permit only even bids, so read the rules carefully. Review the frequently asked questions on the bidding site. When you do, you will avoid being blindsided after the bidding process has started. In other words, take care to completely understand all the rules and regulations before you start the process.
When you have placed a bid, remember to check back frequently. Moreover, the deadline for the auction generally has a countdown timer. Be sure to monitor it frequently.
Keep in mind, too, that someone could outbid you at the last second. That’s when others sometimes swoop in with a higher number just before bidding closes.
Happy Bidding at the Online Auto Auctions!
It’s pretty easy to buy a car from an online auto auction. However, getting a good deal requires some preparation. So follow the tips here if you are looking for a good used car. We wish you happy bidding at the online auto auctions!
