Everything You Need to Know About Car Auctions

What To Know About Car Auctions

Car auctions: a way of buying and selling your own vehicle through a quick process that will give you immediate results. That’s how most car buyers and sellers define the car auction system, which, for most of them, is the best way of dealing and selling a vehicle. 

When attending a car auction event, you’ll be able to see a wide selection of used cars for sale, or you can also sell and deal your own. Most of the time, prices tend to be affordable and reasonable on car dealer auctions, which makes them so attractive to vehicle enthusiasts. Therefore, buying cars at an auction is a great way of getting a vehicle by saving money and even time.

Reasons Why Cars Go to Live Auctions

There are several reasons why vehicles end up in a car dealer auction. Some of these reasons are:

• Trade-ins for new cars

• Being too long at a dealer and not being sold 

• Vehicle repossession

• Damages by weather conditions indicated by the Salvage Title

• Small or major accidents

How do car auctions work?

Car auctions are very similar to other types of auctions. The only thing that differentiates them is the set of rules established by each individual car dealer auction.

The auction process is pretty much this way: the contenders bid an item (vehicle), they’ll increase the value of their bid, until finally one bidder remains. This bidder wins to become the new owner of the vehicle. 

Auto Auction Preparation

Before attending a car auction, it’s very important for you to read the rules prior to participating in the event. Since each auction has its own rules, you must know them beforehand in order to prevent any mistake or unexpected situation while participating in each live auction. 

The majority of car auctions are public events posted ahead of time in different media channels. Anyone can attend them, participate, and return home owning a new vehicle. You will have to verify your identity and funds to be a registered bidder.

Also, if you’re interested in selling your own vehicle at an auction, do a prior review of what your car’s price range should be depending on the vehicle’s history report such as make, model, year, wear and tear, mileage, among others. You can also take a look at the Kelley Blue Book in order to get full pricing information. 

What types of vehicles can be dealt at an auction?

At an auto auction, you’ll be able to find:

• Classic cars 

• Collection vehicles

• Repossessed vehicles from banks

• Wholesale lots of cars

• Flood junkers

• Bottom-of-the-barrel trade-ins 

• High-end sports cars and SUVs

  
  

These are some examples, however, auto auctions receive a wide range of vehicle types.

Government Auctions

At government auctions, city and county vehicles are offered to the public. Here are some examples of types of vehicles at a government auto auction:

• Police cars

• Buses

• Motorcycles

• Utility vehicles

Online Car Auctions

The internet has turned into the best ally for buying anything you want. From a simple pen to a brand new house, online channels and shopping have revolutionized the way of buying things. 

The fact that the internet allows millions of users to find anything they want simply by scrolling a webpage, purchasing and getting their order in a matter of seconds, makes online shopping so attractive and convenient for society. 

Since internet shopping has grown impressively through the years, car selling has opted to go through online channels as well. Online auctions have allowed people from all over the country and the world to buy their vehicles virtually, through easy, reliable, and friendly steps. 

Although it requires some trust on your part, online car shopping will make everything much more simpler and faster when it comes to buying a new or used car. 

How can I use an online auto auction?

Using an online auction is pretty simple and similar to an in-person auction. The difference is that the process turns out to be more simple and you can search for the vehicles you want while being peacefully at home. You’re also allowed to test drive and inspect the car after your purchase.

The steps for buying a car at an online auction are as follows:

1. Go to the auto auction site and click on the menu or search bar to specify the car you’re looking for and willing to buy.

2. If you don’t know exactly what type of car you want, there’s no problem with that. You can scroll down the menu and find the general car listings page. Here you will see absolutely all the vehicles available for sale, which include classic cars, hybrids, hot items, to name a few.

3. Once you find your desired car, the current bid will appear. This will allow you to know if you would like to add a bid of your own, or look for other available cars that are more proximate to your budget. 

4. If you pursue a bid on a vehicle, you’ll be notified at the end of the auction if you’ve won the deal or not. 

5. Right after that, you’ll be required to pay for your purchase. Escrow services are available during online auctions as a secure method of payment to avoid any kind of fraud. You can also buy through credit card payment, although the escrow system is highly recommended.

Top Online Car Auction Sites 

Here’s a list of the top 5 auto auction sites in case you’re interested in buying cars at a reliable auction site.

1. Barrett Jackson

2. ACV Auctions

3. IAAI

4. Autobidmaster

5. Copart

6. Auto Auction Mall

Transporting Your Auto Auction Vehicle 

After purchasing your vehicle at an auction, especially if it's online, there are several methods of moving your vehicle to your home or desired location. The most reliable one and favorite by car movers is hiring an auto shipping company to do the work for them. 

At AmeriFreight, we offer car shipping services from auto auctions across the country. We have years of experience in the industry and we ensure a successful and professional delivery experience in a matter of days. Call us and request a quote today!