Factors to Consider When Using Online Auto Auctions to Buy a Car

Are you looking to buy a car? Whether you are a single car buyer who only needs one vehicle or a car dealer who just opened for business, you may consider using online auto auctions to get a great deal. If this is your first time going this route, please keep these important points in mind.

There are hundreds of auto auction websites out there. On these websites, you will find a variance among the type of auctions hosted. While they do follow the general auction-style format, you will notice a difference. For example, eBay.com is an online auction website. Users can list vehicles for sale on eBay Motors. These vehicles are listed by a wide range of people; some dealers, some avid eBay users, and other are first-time sellers looking to tap into the growing popularity of eBay.

On eBay, you are more likely to find inaccurate and incomplete information as it is the individual seller who is likely placing the listing. On the other hand, an experienced auto auction house is likely to include more information, detailed information, as they know what buyers expect. This does not mean that you should avoid user generated listings, like those found on eBay.com. What this does mean is that you should be prepared to ask questions; lots of them.

At physical car auctions, you’ll find that some auctions are open only to licensed or certified dealers. You may come across similar auctions online. Don’t be discouraged if this is all your internet search pulls up at first. Dig a little deeper and you will find car auctions online that are open to the general public.

As with physical car auctions, you will typically find a numbers of fees tacked onto your buying price. It is important to keep this in mind when placing your bid or while in the mist of a virtual bidding war. Read the auctions full terms and restrictions head of time; will you be charged a 10% auction fee or buyer’s fee? If so, keep these fees in mind when calculating the overall purchase price.

You will find hundreds of legitimate online auto auctions; however, you will also run into a few scams as well. For example, eBay.com is a well-known target of scammers, as most items are shipped through the mail. Vehicles can be shipped via a transport service; therefore, risks do apply. It is always within your best interest to use your best judgment. Moreover, eBay sellers and many well-known auction houses will enable you to come and quickly inspect the vehicle before bidding, but you need to ask first.

As previously stated, there are a wide range of auctions for cars online. eBay.com is home to mostly new or used cars that are in great, drivable shape. When researching online, you will also find some auctions where the overall shape of the vehicle isn’t clear; you are agreeing to buy as-is. In this case, the vehicle’s VIN number is important to determining if the vehicle has a clear title. It is easier to attend virtual auctions, but the same level of organization and research should be performed ahead of time.

Penny Auction Strategies – How You Can Win

Many people take pleasure in taking part in penny auctions, the new type of auction website in which the cost of an item offered for sale increases only by a penny or two every time someone bids. These kinds of auctions are different from standard web based auction sites in two different ways:

Bidding isn’t free. Anyone who wishes to place a bid on an item must purchase a package of bids. Bids can be found in packages of between 10 to 100 bids, and they cost upwards of fifty cents for each bid. Sites generally auction off bid packages too, therefore it is possible to acquire additional bid packs at a reduced rate.

The auctions don’t end at a set time, but end about ten seconds following the last bid. Every bid placed in the final sixty seconds of the auction extends the length of the auction, usually by about ten seconds. This means that an auction that appears close to its conclusion may literally continue all day if individuals are bidding.

This unconventional system of selling makes it different from eBay, where the highest bid, regardless of when it’s placed, wins the auction. For this reason, penny auction strategies differ from those used in traditional online auctions. Although there is some benefit in bidding at the last minute on an eBay auction, for instance, there are plenty of auctions where people win by bidding early. In the long run, with eBay, the only thing that matters is that you simply offer the most money.

The possible lack of a defined ending time makes such strategies worthless on penny auction sites. Penny auction tactics are few, but the primary one is this – you should never, EVER, place a bid with more than a minute to go in the auction. The closer you are to the end of the auction when you bid, the much more likely you are to win. Bidding early won’t assist you whatsoever, as most of the bidding in penny auctions will happen in the last minute.

Additionally you may benefit from making use of the built-in proxy bidding “bot” that almost all penny auction sites provide. The computerized bidding program is something that you can set up in advance so you know that your bids are going to be positioned at the appropriate time. If you attempt to bid by hand, your bids will be put into a queue and they will usually be placed after the automated system’s bids. Because of this and delays in both the Internet and the auction system, you might find that last-second bids placed manually don’t get placed at all. When that happens, you lose.

Penny auction techniques are few; your ideal bet is to simply wait as long as feasible to bid, ideally with ten seconds remaining or less. You might catch the other buyers napping and get away with a last-second deal. Bidding early, however, just means that you are throwing your cash as well as your bids away and you do not want that.

Police Auto Auctions – What Everyone Should Know

Auctions are often a great source of excitement, hardships and happiness as it actually involves finding the right buyer for your product who provides you with a good price for the article if you are selling or if you are buying, it could mean wondering if the product that you have purchased is actually worth the amount you have spent for it. Police auctions are those where vehicles that have been confiscated by the government or those that may not be needed by the government are generally auctioned. Here are some tips to help you make a good buy at an auto auction.

o Check for the vehicle’s history before buying. A used car with an extended warranty is more beneficial as you will have to spend less on maintenance.

o In an auction, the user has no time to get the car he is planning to purchase, inspected by a mechanic. It is not wise to go by the seller’s promises about the performance of the car as he is no guarantee to the car’s performance after you have bought the car.

o Note that a buyer’s premium is applied to the highest bidder which could be a small percentage of the price bid or even a larger percentage. This sometimes can make you pay more than what you would have paid for a new car of different make perhaps. So keep your cool and avoid hasty decisions.

o Avoid thinking that you will buy a car at a very cheap rate at a police auction for a police auction is no different from a normal one. In fact the vehicles here are also not in a very great condition as they have remained unused for a long time.

So think, analyze and take your time before you make the final decision.