Buying a car is a complicated process when you’re buying a brand new one, but when you’re in the market for a used car, it can often be much worse. There are so many more things that you need to pay attention to, such as the condition, mileage, MOT etc.
While it is a bit more complicated, with a bit of perseverance and luck, you could find a bargain. There are plenty of used cars on the market that is still in great condition and cost much less than if they were to be bought brand new. Maybe you’re buying a second-hand car or a first car for your child, whatever it may be, revitalising a used car is a fantastic way to save some money.
Now that you have decided you want to buy a used car, where do you get it from? You may have seen some advertised by the side of the road with a piece of paper in the window with a price on, but that might not be the best route to go down. There are plenty of used car dealerships in the US where you can go and look at the cars in person. There are also online used car dealerships that allow you to compare second-hand cars from all over the country. But, the best place to find used cars in 2021 is actually at an online auction.
While you may be unfamiliar with online auctions for used cars specifically, in 2021 this method of obtaining a car has risen in popularity. Read on to find out all about online used car auctions as well as which ones are the best.
Different Types of Auction
For the non-petrol heads out there, you might think that there wouldn’t be many different types of used car auctions specifically, but you would be wrong!
Used car dealerships that can’t sell certain cars will try and sell them at an online auction. This could result in a great deal for the buyer as they will be willing to sell it for cheaper.
Salvage auctions exist for insurance companies to sell cars that are seriously damaged. This option will only appeal to mechanics or someone that is handy at fixing up used cars.
You may have heard that banks and insurance companies often repossess cars as collateral if people don’t repay their loans. Similar to salvage auctions, these cars can also be purchased at far below market value.
Lastly, is rental car auctions. When these cars reach a certain mileage and can’t be used by the rental companies any longer, they sell them at a used car auction.
How Do Online Auctions Work?
You’ll be happy to know that these online auctions actually work in a very similar way to the real-life auctions we all know and love. If you are familiar with eBay, then you are familiar with online car auctions.
Log on to your preferred used car auction site of choice, enter your search parameters or browse the cars. Once you have found a car you like, you will be able to see all the information about the car, how long is left on the auction and the current highest bid. If you don’t want to wait around, you can enter your highest bid at the start and then if someone bids higher you will be notified. If the online auction ends and you have the highest bid, congratulations, you are the owner of a used car!
The Best Online Used Car Auction Sites
Now you know everything you need to know about winning an online used car auction, you need to know what sites to use. With so many out there we thought we would do the research for you. Here are the top 5 online used car auction websites.
- RM Sotheby.com
Buying a used car can often be a better decision than buying a new car. There are good quality used cars out there at much cheaper prices than you would expect. Even if a car has been driven for a mere 10,000 km, it will be listed at these online auctions for sometimes 50% of the new sale price. When buying something so expensive, you want to make sure that the online auction sites themselves are reputable and will handle your money correctly. We have done the research and picked out the 5 best-used car auctions. If you’re dreaming of a new used car, your search will be enjoyable with these websites.