Purchasing a car from a car auction website is a convenient way of buying a car at a price significantly lower price than what a new or even used car costs car from a new car showroom.
Over the last several years, online car auctions have gained popularity; however, there are still many misconceptions out there about online car auctions that have left many people wondering whether or not to buy a used car from an online car auction is worth it.
To help debunk some of the misconceptions about online car auctions, below are five of the most common myths surrounding online car auctions with explanations as to how they’ve been debunked.
Myth 1: Car Auctions Aren’t For First-timers
It’s not difficult to learn how to maneuver through car auction websites. Most car auction websites are pretty simple and straightforward and designed for virtually anyone to use.
If a bidder has a question, they can refer to the car auction website’s FAQ section or contact the website’s customer support department.
Myth 2: Online Car Auctions Only Sell Totaled Cars
Online car auctions sell all types of used vehicles, and not all of the vehicles they sell have been totaled or severely damaged.
Some vehicles may need only minor repairs and others may need more work, but if you’d like to check the car your bidding on has not undergone any damage you can run a check on the vehicle’s VIN number which will give you information on the service history of the vehicle.
Myth 3: You Can’t Restore a Salvaged Vehicle
This is another myth that is simply untrue. The condition of a salvaged car and whether or not it can be restored depends on the type of damage the car has endured.
For example, a theft-recovered car will typically sell in good condition. In contrast, if you have your eye on a flood-damaged car, be sure to have a professional thoroughly inspect the vehicle before bidding on it. Flood-damaged cars typically require extra work to restore.
Myth 4: Online Car Auctions Only Sell Cars at a Rock-Bottom Prices
Some people are surprised when they visit car and truck auction websites and find that not all the vehicles on there are being sold for pennies on the dollar.
Indeed, prices are often much less than what a new car from a new car showroom will cost you, however one still shouldn’t expect all vehicles to be priced extremely low. Depending on many factors, including the condition of the car, a vehicle could be priced at a higher price point than you may have anticipated.
If there’s a vehicle you have your eye on and you’re surprised by the price, you can always reference quality sources such as Kelley Blue Book to see what the vehicle’s true value is.
Myth 5: You can’t inspect a Vehicle Before Buying
Most car auction websites do allow people to visit vehicle inspection sites before placing their bid to check the condition of the vehicle. Some car auction websites require people to pay a small visit charge though.
Be sure to check with the car auction website you’re using to see if they charge a visiting fee. Also, if you’re unsure of how much repair the vehicle you’re interested in needs, consider taking a mechanic with you to the vehicle inspection facility for a more thorough evaluation.
Do Your Research
Ensure you always research the vehicle you plan to buy. That way, you know exactly what you’re getting.
Also, be sure to research the car auction website you plan to buy from. Most online car auction scams happen on websites that don’t have the resources to properly service bidders. Taking some time to research your chosen car auction website can help ensure you’re buying your car from a credible source.
