Trying to bid for cheap cars online in Nebraska doesn't have to be a complicated process. The key is understanding how online auto auction websites work as well as what to expect in Nebraska. While everyone has their own process once they get comfortable bidding online, there are five basic steps which everyone needs to follow the first time they sign up for an online auto auction site and bid on cheap cars in Nebraska.
How to Bid for Cheap Cars Online in Nebraska
1. Sign up at a Reputable Online Auto Auction Website
The first step is signing up at a reputable online auto auction website. There are a growing number of online auto auction sites to choose from, but not all of them are reputable. Ideally, you should choose a website which has been around for at least a few years. This will give you an opportunity to look for feedback about other people's experiences with the site. Additionally, most auction websites don't last more than a year or two if they treat buyers poorly or follow poor practices.
2. Decide What Type of Online Auction You Want to Participate In
The next step is deciding what type of online auction you want to participate in. In most cases there are three options. The most common option is proxy bidding. In this situation, you will place the highest bid you are comfortable making on your target vehicle. The bid increments will continually increase over time until the specified auction closing time is reached. This is the same format most popular auction websites, such as eBay, utilize. The second option is live online bidding. In this scenario you will be watching the auction happened live from your computer. All of your bids will be placed in real time. This is exactly like a live auction except you don't have to leave your front room. The final option is the live/online auction format. In this situation the online auction is coupled with a live auction. You will normally be given the option to either place your maximum acceptable bid or to bid in real time in conjunction with the live bidding.
3. Look Through Listings to Identify Target Vehicles
Once you have decided what format of auction you are comfortable with, the next step is looking through the available listings to identify vehicles you are interested in. You can decide what your target vehicles are based upon any criteria you want including make, model, color, age, mileage, and starting bid.
4. Research All Potential Targets and Set Maximum Bid
Once you have selected your target vehicles it is time to start researching them. Reputable online auto auction websites will often share the VIN number of a vehicle on the listing. This gives you an opportunity to do detailed background research into each vehicle before deciding how much you are willing to pay for it. As you research each vehicle make sure to note a maximum bid or ceiling that you are not willing to go beyond. This is especially important if you take part in live auctions because it is easy to get caught up in the action and bid higher than you actually want to.
5. Follow the Outline Procedures to Pay and Receive Vehicle
The final step is following the procedures outlined by the website. These procedures detail both the auction process as well as how you will pay and receive your vehicle. Keep in mind that in Nebraska a majority of vehicles up for auction are located in either Lincoln or Omaha. This means you'll either need to pay to have them shipped to you or you will need to go pick them up. If you will not be picking them up within a day or two following the auction, you will likely need to submit a payment online. If you plan on picking it up immediately then you can usually pay in person.
2007 Cadillac C/T
This white 2007 Cadillac C/T was sold near Lincoln, NE at an online auction for only $2,000. It had 104,000 miles and a 3.6 liter V6 engine with rear wheel drive. The reason it was so cheap was because there was noticeable hail damage across the top of the vehicle. The estimate local value when repaired was nearly $12,000. The reason there were few bidders is because the damage would be prohibitively expensive to repair. This is typical of high-end luxury cars which is why hail damage is an ideal way to purchase them at rock bottom prices. Even if they are never repaired the damage will not affect the durability or reliability of the vehicle.
2004 Pontiac Grand AM
For some reason there is consistently a surplus of older used Pontiac cars in Nebraska. This 2004 Pontiac Grand AM didn’t even have 100,000 miles on it but still sold for only $600. This red four door sedan was valued at $6,000 and required no repairs. Online auctions make it easy to spot deals like this because you can filter the listing results based upon make and model to identify current surplus levels which inevitable lead to lower prices and more savings.
2003 Volkswagen Passat W8
It is easy to find a lot of cars like this for sale at online auctions in Nebraska because they were likely brought into the state by college students. This particular 2003 Volkswagen Passat sold for only $400 even though it was valued at more than $11,000. It did have noticeable hail damage; however none of it was severe enough to affect the durability or reliability of the vehicle. The damage was entirely cosmetic. This 4 door sedan had only 90,000 miles on it and a 4.0 liter V8 engine.