Buying From Online Auto Auctions Is Risky Business
There are two simple rules to follow when buying a car on online auto auctions. People lie and pictures can be altered through the computer. That is not to say that every vehicle offered for sale at online auto auctions are a bad deal, rather it is meant as a caution when choosing to bid on a vehicle, sight unseen. Most online auctions consider a bid on the item as a contract between the seller and the winning bidder to complete the transaction within a specified time limit.
There is the possibility that if you win a vehicle from online auto auctions and when you go to pick up the vehicle it is a bucket of rust, clearly misrepresented in the auction photos and description, that you can get out of the agreement. Make sure you provide the appropriate feedback on the auction site for that seller as a caution to other prospective bidders.
Be sure to understand the terminology used when describing vehicles listed in online auto auctions and if you have any doubt about what a term means, ask the seller. If you are unable to get a response from the seller, do not bid. Terms like roadworthy may indicate to some that the vehicle is ready for the road. To others, it may mean it can be on the road provided you push it or hook it up to a tow truck. It could simply mean there is air in the tires.
Investigate Before Making Large Purchase
Typically, buying a car will be a hefty investment and having accurate information about the vehicle is important before making a bid. Another aspect of buying through online auto auctions is to insure the person selling the car is the legal owner and has the legal right to sell the vehicle. It is possible there are outstanding liens on the title and if you buy it, the lien holder will have the legal right to confiscate the vehicle without compensation.
Having the seller include a scan of the clear title, front and back, make offer some assurances that the vehicle is legal to sell. Remembering that many digital images can be altered on the computer and lien stamps can be erased. Some states offer title information through an online database and if possible verify ownership and liens through their site before making a costly investment mistake by buying through online auto auctions.
