Author: Jason / Date: September 6, 2022 / Tags: auctions
(RareCarMarket.com) – With the convenience of the internet, finding the classic car of your dreams is only a few clicks away. Like any sale, when purchasing through an online auction, there are a few pitfalls you should try to avoid.
Try not to let your emotions get the best of you. While you may have your eye on your heart’s desire, sometimes it’s okay to let the sale go — especially if the bids exceed the vehicle’s value. Bringing feelings into a business transaction can lead to you paying more for a classic than it’s worth. This brings up the next point.
Know the value of the car and whether a reserve exists on it before you bid. A reserve is the minimum dollar amount a seller will accept. If the bidding fails to reach this threshold, they have no obligation to complete the deal.
Buying a car online is convenient and saves time, but the biggest pitfall is also the hardest to overcome. You only get to see the vehicle virtually through images and videos. While auction houses do their best to give potential buyers an in-depth look, these methods can’t beat an in-person inspection.
Take delivery costs into consideration. Because of the online nature of the sale, you likely won’t drive off with the vehicle unless you arrange for pickup. In many cases, the seller prepares and ships the car at your cost, which varies on the method and distance between origination and destination.
As with any vehicle purchase, research is key. With a little time and effort, you’ll soon find that the car of your dreams is now a reality sitting in your garage.
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