October 12, 2018
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Why Bid in Online Auctions
An online auction is a good way to see many more cars for sale than can be held in inventory on your local used car lot. Many insurance companies, new car dealers, rental car companies, and other organizations with large numbers of used or wrecked cars to get rid of sell them through auto auctions. If you find a car that fits your needs listed for auction, you may be able to get a really good deal on it compared to what you would pay if you negotiated directly with the seller, whether a private owner or used car dealer. Work with i Bid Safely to get access to the best car auctions!
Look Carefully Before You Buy
Before you offer on a wrecked car to rebuild, find out what your state laws are with regard to salvage titles. Some states will reissue a clean title after a car has been rebuilt and inspected, while some require that the car stay under a salvage title so that future buyers will know it has been wrecked and repaired. A salvage title often drives the market value of a car down, but if you intend to buy the car for rebuilding and keep it yourself until you have squeezed every useful mile out of it, then the type of title you get will not matter.
Try to physically inspect any car you plan to purchase. Look for signs of damage that is worse than described in the auction listing, like water damage that could indicate hidden corrosion and future problems. If the car is still in running condition, ask to test drive it to check the brakes, alignment and general handling quality. If a car has a bent frame, you might be able to tell from the way it handles. Check inside the tailpipe for thick buildups of greasy soot which could indicate hidden engine problems.
Get a good handle on the total potential cost of your project before you bid. Look up used parts prices online or at your local parts store. Find out how much body work and painting will cost. Include fees charged by the auction house for transaction paperwork and shipping. With good cost estimates in hand, you can set your bid at a price that will get you a really good deal.