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Not so long ago, the only way to own a used car was through bulletin boards or car markets. But progress is inexorable and today you can buy a car as easily as you can buy household appliances or clothes – online. What is an online car auction, and what are the advantages of buying a car at such auctions – in our article?
What is an online automobile auction site?
Online auctions for used vehicles are special sites where cars, trucks, vans, motorcycles, and other types of vehicles are sold. There are auctions for individuals and for dealers. To participate in the latter, you need a license to conduct commercial activities.
The rules for participating in different online auctions may differ slightly, but the basic principles are the same. One of the conditions for participation in auctions is the presence of a deposit. Let’s focus on the main stages of working with an online platform for the sale of boo cars:
- Registration. Register an account on the online auction site.
- Vehicle selection. Search for a vehicle by filters, analyzing visual and technical information provided by the seller.
- Bidding. Bidders make bids – the winner of the auction is the one whose bid is higher than the others.
- Payment and receipt of the machine. After winning the auction, the buyer pays the price within a certain period of time. After that, you can pick up the vehicle or order its delivery to the specified address.
Open and Closed Bidding
There are auctions with open and closed bidding. The former allows you to buy or sell a car at a price determined by the market. To participate in them, you need to register and make a certain deposit. They offer a wide range of used cars that can be bought at fairly low prices, even with taxes and shipping costs.
Closed bidding auctions are available to licensed bidders. Closed auctions have several advantages over open auctions:
- Confidentiality. Only licensed bidders, companies, and dealers can participate in closed bidding, so the confidentiality of the transaction will be respected.
- Condition of the vehicle. Most often, insured cars that have lower mileage and minimal damage are offered at sealed auctions.
- Lower prices. A different competitive environment is formed in closed tenders than in open tenders, so, as a rule, prices for motor vehicles are lower here.
- Easy buying process. Closed auctions offer the opportunity to bid online or by phone. Selected auctions offer the opportunity to use automated transaction systems.
Advantages of Buying a Boo Car at an Online Car Auction
Buying a boo car at an online auction is beneficial for the following reasons:
- Attractive prices and technical condition of cars gives dealers and companies an opportunity to engage in the resale of vehicles. At online auctions, it is possible to buy a car cheaper than at official dealers, thereby increasing profits.
- Online auctions feature rare and collectible specimens, and they will cost much less than sellers specializing in these types of vehicles.
- At online auctions, you can find vehicles at an extremely low price. Very often cars with minor damage but in excellent technical condition are sold here.
And of course, the main advantage of online auctions is the fact that the buyer can buy a car without leaving home. By analyzing the technical condition of the car and checking the VIN code, you can be sure of a successful transaction no less than when buying a car in the traditional way.
About PLC Auction
Recently, those wishing to buy a boo car are increasingly favoring online auctions. This is an opportunity to buy a used car in the USA, Europe, Korea, and Saudi Arabia.
The most attractive lots at online auctions are insurance cars, which can be accessed mostly at private auctions. The PLC Auction platform gives you the opportunity to choose your car from thousands of used cars. Most of them are lots at the most attractive prices, which have minor damages but remain in excellent technical condition.
The main benefits of PLC Auction:
- the company has documents and licenses for the right to participate in dealer auctions and provides such an opportunity to its customers;
- the company accompanies the transaction until the car is received by the buyer, including the organization of delivery, paperwork, and other organizational issues.
