Purchasing a salvage vehicle can be tough. Even with the many clean title cars AutoBidMaster sells, it can be difficult to know just what you are getting. Almost as important as what you are buying is how you, the buyer, approach the auction. With that in mind we have collected some of the most often repeated advice we give to our customers and are sharing this with you.
Research the Car Before you Buy
As the saying goes, ‘If you fail to plan, you are planning to fail’. This holds true for online auto actions as with so much. Make sure you go in to the auction knowing what vehicle you wish to buy and having a good idea of its history. If at all possible, inspect the car before you bid on it. Have a plan regarding what other cars if any you might be willing to bid on and don’t bid on something you aren’t sure about. Have a clear picture of what you want. This will help you stay focused and not get distracted by other deals that may not really be what you are looking for.
Know the Car’s Actual Value
Take the time to run through local listings to get an idea of what used cars are worth. You can find a lot of such information in classified ads or listings. The auction will often list the Blue Book value of the vehicle, but this is an estimate that may not apply to any given car or in your area. Watching our online auctions and keeping track of cars sold in earlier auctions, will also let you know what is a good price.
Observe Other Bidders
Make sure you know which way the wind is blowing when you look at your vehicle. Bidding is all about observing the process and placeing your bid when you know what you want. If the price goes up rapidly all at once, it may be becasue there was an automated upbidding between two people using Bid4U. If you are rabidly outbid after placing your maximum, don’t get frustrated, just be aware that someone else may be able to offer more or value the vehicle higher.
Don’t get Carried Away
Yes, there are always cars one will be tempted to buy without a second thought. Before placing down the bid, be sure the vehicle is something you want even if it is a good deal. This is because all bids, once placed, are final. It is also common for bidders during live auction to get carried away if the competition gets too fierce. Always think before you click.
Learn to use BID4U
One of the best services we offer is the BID4U service. Using this, you can place a preliminary bid with a set maximum. Once you have placed the bid, our system will then automatically bid one increment upwards everytime you are outbid by someone else. This even applies during a live auction. With a BID4U preliminary bid in place, you can feel comfortable that if the car is sold under your maximum you can win it and you won’t have to worry about overbidding in the live auction as the system will only compete within the maximum you set.
Buying from an online auction platform takes place in real-time. All these abilities come with time and, therefore, you must spend enough time observing others and try to understand current trends, before you can place that first bid. As you spend time in the marketplace, you will start to recognize both the best deals and how to get them. Of course, the longer you spend in the business, the better the deals you will be able to get.