Bidding Tips For Online Car Auctions
Bidding for a car online can be a very intimidating experience, especially if you are new to the process. By following these simple tips you will not only protect yourself from both false auctions and overpaying but have an enjoyable experience too.
1) Verify the Car Auction Site
Beware of professional scam artists running bogus online car auctions. Always make sure that the car auction site you choose is legitimate. If you have any doubts then look elsewhere. After all, you can usually find the same car for sale on several different auctions.
2) Choosing Your Car
Research the car you are interested in. The cars up for auction will have a photograph of the car and the starting price. Know the value of the car before you bid on it. And, if you plan on reselling the vehicle, be sure it is a car that is in demand and be aware of the resale value. This will prevent you from overbidding.
3) Hold Your Bid
Do not bid on the car you want right away. Instead hold back so you will not seem too eager. Wait until the bidding is almost closed. If you believe you can bid higher than the closing bid go ahead and cast your bid at that point.
4) Do Not Get Carried Away
It is very easy to get caught up in the excitement of the bidding and overbid as a result. Before the auction decide on a maximum price and do not go over that price regardless of how exciting the bidding gets.
5) Have the Cash
Many bidding sites require immediate payment once the bidding is over. Check before you start bidding how payment is expected to be made. Make sure you have the cash available to pay for your purchase immediately. If you do not you may end up losing the car.
6) Get Full Information on the Car
Do not accept a description of the car that simply says “good condition” as this could mean anything. You need to know the mileage, engine model, and the kind of fuel it takes. Look carefully at the online pictures and check for any damage. Ask about its maintenance record.
7) Bid Yourself
Do not rely on a friend or relative to bid for you. Too many times they will forget your wishes and overbid or bid on the wrong vehicle. No one looks out for your interests better than you! These are just some of the tips to follow to prevent any errors while bidding on a car. If you have not bid before, it might be a good idea to watch a few auctions before trying it out yourself.
