Being among the best shippers, Banems is constantly working with auto dealers and auctions as these types of businesses require for regular car transport services. We call ourselves real insiders and today we're eager to share tips for dealers on getting a good purchase on auctions.
What Is Auto Auction Industry?
Let's start at the very beginning. What is the car auction industry? It's a great way to get a vehicle of every type cheaply. They are held throughout the US with lots of automobiles represented. As usual, it's vehicles covered by the insured event. Sometimes, there are lots placed by banks or financial organizations taken for debts to a bank that was pledged as a credit guarantee.
Getting their money back, both insurance companies and banks sell autos for a minimal cost. Members compete for them bidding the higher price.
Who Buys a Car on Such Events?
This option is a perfect chance for a dealer. Lots of autos are bought by international dealers selling them abroad. Many are purchased by private persons. As usual, customers of bidding wars are the following:
- Private persons wanting to get a new automobile for an exclusively low price.
- Auto dealers who re-sell them to a terminal buyer.
- Repair shops acquiring vehicles to restore and sell further of needing spare parts for some exclusive orders.
In any case, you should be a member of an auction, registered and verified beforehand. There are often special paid options you're able to appreciate taking part in them. Options allow you to bid for lots of a more expensive segment or give an opportunity of taking part in multiple auctions instead of once-only membership.
Particularly, free membership allows you to buy an item that costs less than $1.200. Bidding for the more expensive one, you pay a deposit or receive a special membership option that requires payments.
Types of Cars Represented on the Auction
Appreciate quite a diverse choice of vehicles from passengers of casual brands to exclusives, sedans, convertibles, rarities, and top-notch models.
E.g. Banems's customers are ordering exotic car shipping from auction's warehouses.
Cars represented in the bidding war are divided into categories.
- Of a clean title are those who have no critical damages. They are in good or even the best condition, ready-to-go.
- Models with a salvage title are damaged not critically to be easily restored.
- Automobiles signed with a rebuilt title are already restored, damaged before. Now they're in a good condition.
- Water damage title is a sign a car had drowned or its engine was critically flooded.
- The most damaged cars are represented with junk title meaning unrecoverable vehicles or whose recovery costs above 75% of the initial cost.
You see you're welcome to choose an option of that condition you're suspecting.
How to Bid and Pay if You Win?
The process of bidding and paying is quite simple. Firstly, you need to register. It is better done in advance as the organizer needs some time for your verification. You should provide it up with your ID card/business license if you're representing an enterprise.
After the registration, you'll be informed about the exact time and date to take part. On the day, you can bid for an item you choose as on any auction. In case you win, you need to provide the payment within 3 business days.
Paying for a won vehicle, you're able to choose among payment methods provided by the organizer. There are some options for online payments and bank transfers available.
You're welcome to inspect a car personally before paying or to require more photos to evaluate its condition.
What's Next After You Win?
OK, the car is already yours. Now it's time for Banems auto transport company to take reins. We'll help you to get your purchase shipped to your residential city or to the showroom or the workshop – wherever you want us to. Car auctions and car transport companies are often counterparties. And we are glad to be partners with reliable auctions where you can buy an automobile for the best price making a win-win deal. And leave your car delivered to us. We'll do it.