Trying to sell a used vehicle can be a tough process. There are several different avenues one can take from print forms like magazines and newspapers to millions of online resources. For some simply listing your vehicle information and asking price is the way to go. For others using auto auctions can have several benefits. For those who are considering using an on or off line auction to sell their vehicle I wanted to offer up a few tips and words of advice that can help make your experience better.
First off some those who are not as familiar with auto auctions may be wondering what are the real benefits? Well for starters the speed can be beneficial. Lots of people looking to sell a used car in any price range are looking to do so in a hurry in fact I see vehicles everyday priced very well, because the sellers are “motivated sellers". Often times moving, relocating, or simply wanting to purchase another vehicle can be key factors in looking for a quick sale. This is something a good auction company can offer, because they devote resources into bringing in a large number of interested buyers who are ready and willing to make a purchase. (which means more real offers and less tire kickers) Another benefit is the concept of bidding. Plain and simple the bidding starts and the price to be paid for the vehicle only goes up with each bid as opposed to a straight asking price which gets negotiated down.
If your looking to sell your vehicle at auction one must keep a few details in mind. First choose the right auction company and know the fees. The fees and charges associated can vary by company and some companies focus on particular types of vehicles. When submitting your vehicle you want to make sure that others like it are also being auctioned off and that will increase your chances of appealing to more of the bidders and therefore increasing the number of bids your vehicle will receive. Some companies work with all types of vehicles like CoPart for example. While others like barrett-jackson work exclusively with classics and collector cars. Getting information like how many buyers or bidders view the auction and what they are buying can be an important step in deciding if your vehicle will earn top dollar.
An aspect that may scare some sellers from using an auction service is the fact that you really can't know how much the vehicle will earn until its over. Getting the facts and rules of the company and asking questions like “can I set a reserve or minimum bid?" or “Can I choose to decline the top bid?" are very important if you are looking to earn a certain dollar amount on the sale.
So when your looking to sell a used vehicle keep in mind that there are several options available and choosing which avenues to take should be based on your priorities and comfort level.
About the Author:
Brian Ostrowiak is the co-creator of http://www.1000DollarAutos.com and an avid car enthusiast who often buys and sells cars and trucks for less than one thousand dollars.
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