How to Save Money at a Car Auction

The appeal of car auctions is both multifaceted and totally relatable. For some potential buyers, the primary appeal is the chance to access vehicles that would otherwise be out of financial reach. For others, it’s the opportunity to experience the excitement of venturing into automotive territory that relatively few people ever encounter. And for yet others, it’s a combination of both.

A Better Bid puts that excitement as well as the chance to save serious money within reach, giving you direct access to a huge online car auction marketplace where more than 300,000 vehicles are routinely on sale each day. This vast inventory includes cars with salvage titles, repairable vehicles that can be brought back into service with rebuilt title status, and other non-repairable vehicles that make perfect parts donors for that project already sitting in your garage.

Since no one wants to spend any more money at a car auction than they have to—even if they do walk away with a great deal—let’s take a look at how you can save even more money.

After all, getting just the vehicle you’ve been after is an exhilarating feeling, but getting the one you want at the best price possible is even better.

The old axiom knowledge is power certainly holds true for car auctions. If you educate yourself on the nuances of the vehicle(s) you’ll be pursuing, you’ll have a firm grasp on what constitutes a great purchase price, as well as gain insight into common problems a given vehicle has been known to have.

On the other hand, if you go into that same auction looking more for an adrenaline fix, things might not go as well.

In the case of many salvage vehicles, having a variety of issues won’t be a deal killer for educated bidders. These will already be factored into the maximum bid they are willing to make. Knowing what to look for, as well as what to look out for, will alleviate any surprises that might otherwise occur.

It’s also worth noting that the same required repair will have drastically different cost consequences on two different vehicles. For example, a “check engine” light often means that there is a timing chain issue to remedy. On a Chevy Traverse, replacing the timing chain is an expensive proposition, as both the engine and transmission need to be lifted in order to do the job. On the other hand, if the vehicle is a Chevrolet Equinox, the repair is much less involved and therefore substantially cheaper.

The above example took place not long ago at an in-person vehicle auction that was off limits to public buyers. That’s a barrier you won’t encounter with A Better Bid, as we are open to the public, but the situation we just cited is every bit as relevant for online car auctions.

Few of us tend to begin our participation in car auctions with a thorough, practical knowledge of a wide variety of vehicles. So it’s a smart idea to focus on those auctions that constitute a potentially good deal and are already of considerable interest, as opposed to other situations that might seem financially appealing but might not be what you were looking for.

Curious as to what vehicles are available? Use our Vehicle Finder to learn more.

Regardless of whether you’re planning to bid on a box truck, a convertible, or even a motorcycle, it’s a good idea to know just what that vehicle is going to need once you bring it home.

Car auctions can offer a consistent array of terrific deals, but knowing the way forward with the vehicle(s) you’re targeting is a big advantage. Not all repairs are created equal.

Of course, other vehicles may be non-repairable and won’t ever see the road again. These often have considerable value as parts donors, but even in such situations, you’ll want to know the exact extent of the damage the vehicle might have incurred. After all, you’ll want to make sure that the parts you’re intent on harvesting are intact and ready for future service.

While the vehicles that are up for auction almost always have descriptions that provide insight into their condition—including the nature of the damage in the case of salvage vehicles—you can always get deeper into the details through a vehicle history report. So if you’re really serious about a specific auction vehicle, it makes sense to obtain its VIN and get its vehicle history report.

We don’t equate bidding at a car auction with gambling in any sense, but in both scenarios, adrenaline and excitement can get the better of you if you’re not mindful of your practical limits.

Assuming that you have already done your research and know exactly which vehicle(s) you’re targeting, and you’re otherwise ready to bid, it’s a good idea to adhere to those bidding limits you’ve set for yourself. There’s always a chance that others have done their homework on a given vehicle but are nevertheless prepared to bid beyond its value. Stay logical and keep emotion out of it if getting the best possible deal on the vehicle you want is your prime motivator.

Sure, there might be rare situations where your one and only mission is to walk away with the vehicle being pursued, but for the most part, it’s a lot harder to come away with a superdeal when multiple bidders go after the same vehicle.

This is an obvious adjunct to the previous recommendation, know your limit, but if yougo into the auction fully confident in your ability to stick to the limits you’ve set before bidding on a vehicle, it will provide you with a sense of calm. Calm minds make better decisions.

When emotions enter the equation, we often tell ourselves we’re looking at the deal of a lifetime, a one-of-a-kind opportunity. At times this may be true, but it’s more likely that opportunity will present itself again in the form of another vehicle that will thoroughly capture your interest but has less insistent bidding competition.

Rest assured, we want you to come away with just the vehicle you’re looking for, but in those instances where you don’t, you won’t be out anything. The security deposit that determines your buying power can be put toward another vehicle or, should you so choose, it can be refunded to you.

There are plenty of great deals to be had at car auctions on a surprisingly wide variety of vehicles. Following the recommendations we’ve set forth here will greatly increase your chances of taking home just the vehicle you’ve been looking for at the best possible price.

We wish you happy bidding!