Registration and Membership
To participate in auctions, you need to register first. Usually, the websites require you to upload a copy of your photo ID and submit a refundable security deposit. Similarly, different websites have different memberships plans. For example, some websites have a basic membership plan, that allows you to purchase only one vehicle at a time, whereas a premium membership plan allows you to purchase or bid on more than one vehicle.
Online Bidding Process
Once you complete the registration and membership process, the next step is to bid on your favorite vehicle. Most websites would have the process mentioned in detail on their website in the FAQ section. Go through the process to understand how it works and to avoid any mistakes at the time of bidding. If you have any doubts call up their customer care to get your doubts clarified.
Inspection
One of the most important things you need to do before buying a vehicle from an online auction is inspect the vehicle that you’re interested in. Salvage auctions often allow you to physically visit the auction location and inspect the vehicle. Before you visit the location, contact the auction yard to confirm for the availability of the car and confirm their business hours, or if they have any fees to inspect the vehicle.
Payment
When you win a bid, you need to pay for that vehicle. If you’re unable to make a payment on the recommended date, a late payment fee may be added to your account. Usually, most websites require payment by a bank wire transfer. Do go through the FAQ section to read about the payment terms and conditions. In fact, this is something you must do, even before you bid for the vehicle.
Shipping
Once you win a bid, the online auction website may offer you to ship the vehicle to your desired location, or ask you to pick the vehicle from their location. If you are placing a bid from an international location, make sure the salvage auction site ships vehicle to international locations, too. Check the shipping charges to avoid any hidden charges. For example, some websites charge their customers extra storages fees for picking their vehicles late from the delivery site.
Must Read: Online Car Auctions: A few Things to Consider
Conclusion
Buying a salvage car is one of the best ways to buy a decent car at affordable rates. There are, however, some risks attached with buying a used car, for example, you may be buying a stolen car. To avoid such issues you must get a VIN check done. The best way however is to buy from a reputable online website so that you don’t end up being a victim of a used car fraud.