Tips for Buying a Used Car at a Car Auction

Monday, 23 January 2023 | Hariestu W

Buying a used car is a great option for prospective buyers to save. But where are more sellers and buyers turning to for their vehicle needs? Auctions!

Buying cars at auction is the superior way to purchase your next used car as they can save you money, are simple and offer plenty of variety due to the high turnover of vehicles. And when purchasing through CARBIDS, you have the bonus of purchasing through Australia’s trusted home of car auctions.

At CARBIDS, we endeavour to make the auction process seamless for both the buyer and seller. When it comes to participating in the auction as a buyer, these are our four tips for buying a used car at auction:

1. Prepare.
   It is important to ensure that you know about the car, the auction process and the platform on which you will be participating. CARBIDS auctions typically run from seven to fourteen days. This gives everyone plenty of opportunity to view the cars we have for auction and the time to decide if the vehicle is right for them.
   
   
2. Inspect.
   At CARBIDS, we offer inspections of all the vehicles we have at our warehouses in Sydney and Canberra. We recommend that you, or someone on your behalf, take part in a pre-purchase car inspection to ensure that you will be happy with your potential purchase. We also detail in our online listings the appearance and functionality of the vehicle to assist you in your initial search.
   
   
3. Budget.
   As part of your research into finding the right car for you, you should also research the expected market value of the vehicle. This will assist your understanding of how much you should expect to pay for a car and set your auction budget. This is a vital part of a good auction strategy, as sticking to your budget will help to avoid emotions taking over in the heat of the moment.
   
   

4. Familiarise.
   As exciting as getting ready to purchase your next vehicle is, it is essential to familiarise yourself with the CARBIDS platform. Doing so means you can bid on your chosen vehicle stress-free and confidently on the platform. One great way to familiarise yourself is observing a few auctions as they take place while looking for your dream car. This could help you understand other buyers' bidding strategies and help you when it is your turn.

At CARBIDS, we are all about bringing the spirit of an in-person auction online—but making it easier for people to receive their items at a price they are happy with. That is why we created the maximum bid function. This allows you to place your bid in a ‘set-and-forget’ manner, as you can select the total amount you are willing to bid on the car and our market-leading platform bids on your behalf in small increments. This means you have to do minimal check-ins on the auction while it is taking place.

With that being said, we recommend that you pay close attention on the auction closing day so that you can be ready to place any final bids if you are outbid and are willing to spend a bit extra to receive the vehicle.

Now you have our four best tips for buying a used car at an online car auction; you are just about ready to start bidding on a used car. Do not forget to create a CARBIDS or ALLBIDS account and become a registered bidder. We have new listings going live weekly, so now is a good time as any to start bidding!