August 18, 2022

How to Buy and Sell a Car in an Online Auto Auction

Ove.com

If you have a car that you need to sell, or if you’re in the market to buy one, you can actually do so online. There are many online auto auctioneers, such as AWG, Manheim, Openlane, and others, that make it easy to sell or buy a car. Buying a car online means having access to information about the car and getting to see the interior and exterior of the vehicle without having to do a lot of traveling. Additionally, selling your car in an auction means that you get to be in charge of the asking price, and you’ll have professionals who can assist you with the sale.

There are many auctioning and remarketing services available, including AWG, government/GSA auctions, Manheim, Openlane, Smartauction, and others, such as repossession and insurance auto auctions. These services are often used not only by private buyers and sellers but by dealers as well in order to buy vehicles at the best price possible. If you’re in the market to buy a car, though, the first thing to do is know which auctions are available to you: some auctions are for wholesale only and not open to the public. Once you’ve found an auction and decided what sort of car you want, check a guide like Kelley Blue Book or Edmunds to determine the best value for a vehicle and set a budget for yourself. Typically, if you’re buying a car at an auction, you will work with a proxy dealer, or someone who is there to act on your behalf. Be sure that this is someone you can trust, and check this person’s credentials if necessary. You can use online auto auction software to follow the auction yourself online.

If you want to sell a car, the first thing you need to do is contact an auction house so you can physically bring the car to them. Some examples of popular auction houses for selling a vehicle are AWG, Manheim, Openlane, and Smartauction. Once your vehicle is inspected, and if the auction house decides they will sell your car, you will have to determine the price to start bidding. Keep in mind that the auction house typically takes 10% from the sale, and you may have to pay a small fee in order to register your car for the auction. The end result will either be that you successfully sell your vehicle, or, if you don’t, you can keep your car with the auctioneer and try again.

Don’t let your old car collect dust in the garage or take up space on your driveway. Use an online auto auction to sell your car and make money. And if you’re looking to purchase a new vehicle, too, using one of the many types of auto auction software available is a great alternative to scouring dealerships for your next car.

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