Tips on online car auctions

Sunday, June 2, 2013

Tips on online car auctions

Car Resale Notions

The process of buying vehicles can be a tedious job. Previously, only professional car dealers were allowed to sell used cars in the market. Now that, the internet has changed our way of living, it has entered into the very core of our existence. Even complex processes like online car resell business have shifted online. Today, websites offer the service of “live auction” for buying nice cheap cars online. Online car auctions have accentuated the process of purchasing used cars via the internet. Car dealer auctions are specialized auctions, which are held privately. The types of cars sold in such auctions are listed below.
Image credit: viperagp / 123RF Stock Photo

Vehicles Sold in Car Dealer Auctions:

  • Off-rental: Often rental companies try to sell off their cars at minimized rates. These cars are sold to secondary markets and consist primarily of cars of late-model. The options availability is restricted to automatic transmissions and air conditioning facilities.  

  • Off-lease: The cars that are returned after the rental term is complete are sold as off-lease. These cars are usually owned by financial institutions, and they can place the car for online car auctions only in closed markets.

  • Fleet/company cars: Companies sell their trucks and vans after they have served for at least two years. The Government also gives away its vehicles, also known as “fleet vehicles”. These vehicles undergo lots of repair work. At times, companies also put out used sedans for auction.

  • Repossessed: There are times when cars are repossessed by the financial institutions due to certain delinquency or some other reason. This process can be voluntary or involuntary.
Checklist for the purchase of pre-owned cars:

  • Thorough research: As you decide to buy a pre-owned car, browse online for the car models and the online companies that will provide you the best deal. The advantage of using the internet is that you will get hold of a wide range of vehicles to choose from. Make the most of this facility.

  • Choice of online company: Look out for a company that has proper credentials for selling cars online. A well-reputed online company is the best choice for buying cars online.   

  • Car model for purchase: Before you buy the car, decide on the model you want to buy. If you want a family car, sedan models are best while you can look for sports car for personal purposes. But you must choose a model in advance, prior to your purchase.

  • Car inspection: It is not possible to check the car in person in an online auction while buying a car. However, one must try to get as many ideas as possible from the pictures available on the website. Many times the auction sites display the models pictures from different angles. This can come of immense help in purchasing the car.
These factors will assist you in buying a pre-owned car. You must not forget that a deal once finalized cannot be undone. Make up your mind after thinking over the deal and weighing out the pros and cons of buying from the online company. One last thing keep your money ready before planning to buy a used car. You may be obliged to buy from certain reputed companies when you finalize the deal. 

About the author-

Alex Mathew contributes regularly for online car auctions. Follow him on Google+.

1 comment:

webbrowan said...

The internet has helped to provide an abundance of opportunities for us in various forms either for personal reasons or business. It has turned the used car industry into an even more interesting trading ground where potential buyers can source for the best deals in town over a click of a mouse.

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