Want to know how to buy a vehicle in an online auction? You have arrived at the right place.
A Complete Guide To Buying A Car At An Online Auction
When it comes to finding yourself a new vehicle, there are a few good places you can try. There are used car dealerships to look at, garages near you to try, and online marketplaces where people try to shift old cars. If you don’t trust Facebook Marketplace as a reputable source of a new vehicle, though, going online might be the next best thing.
As we progress in the digital age, increased car dealerships are becoming digital. The pandemic put the final nail in the coffin for many a garage, but that doesn’t mean you can’t find a car. You could be buying a new car second hand from a well-established dealership, or even trying online car auctions, those are always a good alternative.
Here’s all you need to know to successfully buy a car in an online auction, without looking like you don’t know what you are doing.
How to Buy a Car at an Online Auction?
You can buy a car at an online auction in a few simple steps.
Step 1 – Before You Go
Before you set foot in the digital space, make sure you research the companies involved in the auction. Look at the cars, makes and models and values, and go in prepared. Those who go in blind to an online car auction tend to get ripped off.
Step 2 – Browsing the Vehicles
Have a good look at the products on offer. If you were attending in person you could walk around the showroom or forecourt and have a look for yourself. As it is, you need to browse the vehicles in the online space. The descriptions will be written by those selling the cars, so read them thoroughly. Pay particular attention to the specs since this will include things like mileage or known problems. Go through the images with a fine toothcomb. You buy as-seen, whether you see it in person or not.
Step 3 – Bidding
You need to register your interest before you can bid on an online auction. This prevents randoms from frivolously clicking to push the prices up. In the industry, they call these people tyre clickers. Once you register you will be given a code or number to bid with. Next, place bids until the time runs out.
Auction houses make their money by charging a small fee on top of what you pay for the car, and then you have VAT to think about, too. So if your maximum spend is £1000, don’t bid higher than £800 to be on the safe side.
Step 4 – Collecting your winnings
At the end of the auction, you will be invited to pay for any cars you have won. You will be able to collect your car or the auction company may offer to drop it off to you. Either way, you could be driving a new car in a matter of days.