Online car auctions have always been a useful route for trade buyers to source stock, but the move to online bidding has truly changed the game. Instead of travelling to a physical auction, you can easily browse an online catalogue of vehicles and bid from anywhere. If you’re looking to secure deals or shift stock quickly, here are the main opportunities of using an online car auction, along with some of the challenges to look out for.
Pro: Fast deals without the travel
One of the biggest draws of online car auctions is just how streamlined the process is – a real operational advantage for any time-pressed trader. Instead of spending an entire day to attend a sale in person, you can log into a car auction, view listings, and place bids in minutes – whether you’re in the office between meetings, on the forecourt, or even on the move.
With the flexibility of being able to bid with ease and respond to things quickly, you have the advantage of being able to jump on deals as soon as they appear without the need to travel between auction sites.
Pro: Expand your buying options with a larger car inventory
Online platforms make it easy to browse a huge selection of vehicles from across the UK – far beyond what a single physical auction could realistically hold. You can easily source the right stock that you’re after by using search filters on online auction sites, as they make things easier to filter through when you’re looking for a certain model of car. Whether you plan to look for a new car or older trade-ins to meet customer demand, you can quickly compare and check the specifications of models.
Con: The challenge of inspecting cars online
Virtual buying has its limits, and one big drawback is the total lack of hands-on inspection.
While listings often include photographs, condition reports and service histories, there is no substitute for being able to see a car in person. You can’t take the vehicle for a test drive, check for hidden defects, or gauge overall condition. This is why it is essential to work with reputable car auctioneers who can provide accurate and detailed information on the vehicle before purchasing.
Con: The risks of remote bidding
Bidding remotely brings its hazards. Hazards such as undisclosed damages, mispresented vehicle conditions and unexpected fees can all erode a deal’s value. Check the seller’s track record of sales, read reviews of the car model from previous owners and thoroughly scrutinise all terms before committing. Finally, set a clear maximum bid to avoid getting swept up in competitive bidding and overpaying.
Make online car auctions work for you
Online car auctions can be a valuable sourcing tool, but only if you approach them with a clear strategy. The convenience, speed and variety of choice can help businesses respond quickly to market demand. Whilst the lack of physical inspection of the vehicle and bidding risks requires caution. However, if you stick to using reputable platforms, scrutinise vehicle details and set firm limits, you’ll be able to make the most of this fast-moving marketplace.
