Car auctions are a great way to not just quickly sell your vehicle but also buy your dream car at a pretty good price. If you are wondering what an auto auction is, how online car auctions work or how you can safely get your vehicle transported after you buy it from an auction, then this guide is just for you. We will discuss all of these things so make sure to stick till the very end. With that said, let’s dive right in:
What Exactly Are Car Auctions and Their Types?
A car or auto auction is basically a method of selling your vehicles based on the bidding system. The car is presented to the potential buyers (bidders) and then sold to the highest bidder at the end. There are many benefits of selling a car in auction ranging from getting a good price because of its competitive nature to quickly selling the vehicle instead of waiting for the buyers to approach you.
Now there are different types of car auctions and each has its own advantages. To fully leverage car auctions and benefit from them, you need to know about their types first.
- Private or Closed Auctions: These are private because not everyone can access these auctions. Only the licensed car dealers can get into these and only local dealers can buy/sell cars here.
- Public Auction: As the name suggests, these are accessible to anyone looking to do some bidding. These are usually organized by banks, car auction houses or insurance companies. The main idea is to sell the cars that have been repossessed from users because they were behind their monthly car loan payment or were damaged in an accident and insurance companies rebuilt them to sell to recover money.
- Government Auctions: Ever wonder what happens to all the stuff that is seized at the border? Well, all of that is auctioned after a certain period of time. This also includes cars, bikes, trucks, boats, and so on. Government organizes these auctions to get rid of the excess occupying space in their impound lot. Moreover, if government departments like police get new vehicles, they auction off the old ones.
- Online Auctions: This is the newest and most convenient mode of the auction, especially amid COVID19. Plus, people from any part of the world can access these auctions, which is not the case with physical ones. Mostly, used cars are put up for online auctions and people can register on the bidding website to view the car and register their bids. These are usually vintage collectibles or luxury/sports cars.
Role of Internet in Car Auctions:
Thanks to the internet and its continuously spreading roots with each passing day, people are now not confined to shop within their locality. Someone sitting in New York can buy traditional jewelry from Somalia or a handmade rug from Turkey and have it shipped in a few days. Similarly, car enthusiasts hit online auto auction websites to explore and buy the cars they cannot find within their vicinity.
Someone might need to drive around the Canada-exclusive Buick Allure on the roads of the U.S and for this, they can just use a Canadian car auction sites like Car Auctions Canada to see if someone is selling it. Once they find the car and win the bidding, they can use auto transport companies to have it shipped to their location in the U.S.
Similarly, sites like ACV Auctions can help people buy cars in the U.S and have it shipped using a vehicle transport company. The best part of using car auction websites is that you have access to hundreds of dealers and individual sellers online; you can use search filters to find the exact car you need and then quickly start your bidding.
Why You Need Car Auctions Auto Transport Service?
Buying a car right from the comfort of your home is one thing, but getting it safely transported to your location is a whole other experience that requires careful planning and execution. Whether you are getting a regular use car or a vintage collectible, safe transportation to your location is a must. You don’t want your car to get damaged while it’s being driven from the seller’s location to your place.
This is the reason why the majority of buyers that leverage online as well as offline auto auctions rely on car auction transport service providers. Their cars are picked up directly from either the auction house or from the location of an individual seller/dealer and safely transported to them.
Most of the time, cars, especially expensive ones, are transported in an enclosed container which is covered from all sides and offers greater protection to the vehicle so that it is well-protected from any potential scratches or dents during the journey.