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Online Used Car Auction Sites – Should You Join?
There’s a lot of talk these days about online used car auction sites. You might ask “Are these second-hand skincare online auction sites real?” and “Do I have to join an auto auction site?”
In this article, I will answer these questions about online used car auction sites.
Where do these used cars come from and why are they so cheap?
That was the first big question for me and basically what happens is people don’t make their lease payments or car loans on their new cars and because of that their cars get seized or taken over by various financial institutions. Once the car is seized, it is quickly sold at auction because the storage and maintenance of these vehicles entails significant costs.
I was surprised to learn that it is actually common for many used car dealerships to go to these auctions and buy multiple seized cars and then resell them at marked up prices! It’s a little-known secret that dealers really don’t want us to know.
How do these online used car auction sites get access to these cars?
These auctions of seized cars are a very protected and secret source of income for many car dealers and are never advertised to the general public. Thank goodness for the internet because these online used car auction sites are now able to obtain information and access rights to allow you to use many direct sources to get great deals on second-hand cars.
Can I check the VIN of the car I like?
Yes! I was happy to see that the majority of car auction sites include a CarFax VIN report that you can review before you even place a bid. It certainly lets you relax knowing that there is nothing fishy about these online car auction sites.
What condition are these cars in?
Another thing I was concerned about was the condition of the cars on these used car auction sites, as you cannot fully inspect the vehicles yourself. Well, the great thing is that government agencies take extremely good care of their vehicles and their maintenance is top notch. Compliance with workplace safety legislation is part of their organizational responsibility.
The majority of cars sold on these online used car auction sites come with service history information and various stamped logbooks. Not to mention that many cars are still under manufacturer’s warranty! The biggest part of these online car auction sites is that most cars are only 2-3 years old and the majority have only 40,000-60,000 km, or 25,000-40,000 miles!
I spent about a week researching and collecting so much information from various auction sites before finally joining one. I’m happy to say that these services are fast, easy to use, and most importantly, cheap! I ended up saving a ton of money by getting my dream car, a beautiful 2 year old red Mustang!
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