Whether you are looking to buy a reliable family car or a speed monster, online car auctions are the way to go. By opting to bid on cars in online auctions, you not only get to own your dream car at an affordable price, but also get more than enough options to choose from. Though it goes without saying that online auto auctions can be the key to buy any car without having to break the bank, it is important that you don’t let your impulse take over and make an informed buying decision after considering all the factors that matter in the transaction. To help, we present a list of some such factors. Read on.
You may be the coolest kid on the block who drives the latest Mustang, but only until someone shows up in a 1968 Mustang Shelby GT500KR! When it comes to the market value of pre-owned and salvage vehicles, a lot depends on the variant up for sale. While limited editions models are usually priced above mass-produced models, the models with celebrity tags also go at much higher prices compared to stablemates.
Year of Manufacture
A salvage car may be looking as good as new, but besides the condition, its value largely depends on its year of manufacture. You also need to keep in mind any local laws that may restrict vehicles older than a certain age to be used on the road, and of course, emission norms, as noncompliance may lead to heavy penalties. It is therefore important to consider the year of manufacture when placing your bid on cars in online auctions.
Repair & Insurance Cost
FInding your dream car at an affordable price can make you take a hurried decision, without being fully aware of what you are getting into. While some of the options listed in online car auctions can be used after minor repairs, some can set you back by a significant amount. Moreover, you need to factor in the cost of insurance you would have to bear to make your prized possession road-ready.
Availability of Spares
Many people end up buying rare and classic cars through online car auctions, only to later find out that its spare parts are no longer available and that they have no means to arrange them. Make sure that doesn’t happen to you. Before you place your bid on a car in an online auction, be sure about the availability of its parts. You can also use social media to find people who can help you with hard to find parts.
While it is undeniable that, with the right approach, online car auctions are the place to be for every car buyer who is looking to buy their dream ride without having to break the bank, you must exercise caution when going ahead with a purchase decision. All leading auto auction websites allow inspection of the vehicles they list and all you need to do is a hire an auto service professional to assess the condition of the options that fancy your interest. Hope this read helps.