How to increase your chances in winning a car auction

How to increase your chances in winning a car auction

Updated on June 12 2024

METRO MANILA,– Nowadays, more and more people are looking into the used market to purchase a vehicle.

Aside from the lower price compared to brand-new models, you can also shop around for any brand that you are eyeing. This makes online auctions beneficial for everyone who wants a car without paying for a large amount of money.

What is an auction?

Auction houses offer various vehicles to the public. Anyone who is interested in a unit must offer a certain amount as a bid.

It will start from the lowest price, also known as the floor price, and continues until the last person who offers the highest bid wins. After settling the payment, the winner will then get the car and take it home.

Unlike the traditional way of bidding items, online car auctions allow you to participate from the comfort of your home. All you have to do is use your smartphone to choose from the list of pre-loved vehicles on the website, offer your maximum bid and wait for the result.

No need to schedule several hours of your time to go to the venue or pay for the parking space. Just a click of a button and you are done!

The question is: Is there a way to win an auction for used vehicles? Well, there is no definite answer to that since auction houses differ from one another.

Fortunately, there are certain things that you can do to increase your chances of winning.

Be familiar with the rules

Before signing up for any online car auction, it is very important to know the rules of the auction house first.

This will give you insights on what to expect, especially if the repossessed car has been awarded to you. Moreover, this is an effective way to help you strategize better so that you can win.

Know what previous participants say

The next thing that you need to keep in mind is to do a background check of the company holding the auction.

As much as it is very tempting to believe their ads, learning about the business itself is something that will have a huge impact as a bidder, especially if this is your first time to join an auction online.

With that said, take advantage of the social media to find out if the auction house is worth your time and money. Usually, you can read reviews on the official social media pages of the company.

If most of the feedback is positive, it is probably safe to go on with the bidding. However, in case reviews are numerous complaints, it’s better to back out and find another auction house that you can trust.

Remember, there are a lot of scammers out there who looks like legitimate companies. Make sure to run away from them as much as possible before its too late.    

Pay in cash

If you really like the car that you are eyeing and want to win the auction, choosing to pay with cash is certainly an effective way to entice the auction house to grant your offer.

This is because not all customers can pay in cash. Most of them opt to get financing just to get the vehicle that they wanted. Besides, cash payments are obviously better for both bidder and auction house due to its convenience.

Automart.PH offers a wide selection of used cars at great prices, ranging from compact cars to pick-up trucks, that suit your needs.

And if you’re looking for the finest used cars, check out Automart.PH Certified Used Vehicles. These are restored until they feel like new again. They also come with a three-day money-back guarantee and, for Gold Certified units, a one-year warranty.

Automart.PH Senior Content Creator VJ Bacungan contributed to this story.