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Posts Tagged ‘Auctions’

Online Auto Auctions

Thursday, July 23rd, 2009

There are many different forms of auctions online for vehicles and here are a few ways you can save quite a bit on your next vehicle purchase.

1. Check the VIN

For each car you are interested to bid for, find out the VIN from the seller on eBay and Yahoo auction. Run the AutoCheck Vehicle History Report and read up on the car history before you decide whether you want to bid.

2. Never Bid Unless Buying

Never place a bid unless you are sure you are buying the car. This is because once you win the bid at eBay, you are obliged to pay for the car. So be sure that you are confident before you put down your money. There is a way to safeguard your purchase by making use of eBay’s escrow service to ensure that the seller delivers the car before you make the payment.

3. Agree upon an inspection period

Did you know that buyer and seller can agree upon an inspection period where you can arrange for a certified mechanic to carry out a thorough inspection on the car to assess if there are damages that were undisclosed by the seller for dispute resolution?

4. Check the Blue Book Value

While these are online auto auctions, it does not mean that you should treat the bidding any different from buying a used car at the car dealer. Always find out about the blue book value of each car you are interested in before bidding. Bid lower than the blue book value. Be sure that you find out what prices the local second hand dealers are offering for the car models and makes. This ensures that you are getting a bargain rather than suffering a loss. That is the whole idea of bidding at such auctions.

5. Check the reputation of the seller

Since there are ratings given for the sellers at the online auto auctions, make sure you check out the experiences of other car buyers. One trick is to see when the ratings are given. If this seller has been doing the business online for a long time and enjoys positive ratings, it is more assuring for you to bid.

These are some handy tips of bidding for a car at online auto auctions. Find out another great alternative for finding cars at up to 90% off retail values at my car blog.