Car auctions are the bets places to find cheap cars and with the advent of internet, the auctions are held online by many auction websites. Live auctions are also conducted and people in the local area will know the auction sites. While both live auctions and online auctions allow you to get your cheap car, the choice is available now and you have to make the best decision. There are several conveniences and disadvantages with both these auctions.
The major difference between live and online auctions is the physical auction site in the live auctions. To take part in live auctions, you must visit the auction place in person and take part in the auction. If you are far away from the auction site, you have to drive to that place and there is no guarantee that you will buy the car you wish. In online auctions, anyone can participate without any concern about the actual location. Sitting at your home, you can take part in the auction. But you cannot inspect the car prior to bidding in online car auctions whereas this is possible in live car auctions.
Length of auction
Live auctions start and end in a few hours. Sometimes, the cars will be sold in an hour after the commencement of the auction. If you are late to the auction site, chances are there that most of the cars would be sold already. Online auctions last for several days. Once the auction is announced, the participants can start participating in the auction and it will be open for a few days to allow more participants. Then the bidding period will be closed and the highest bidder will be chosen.
The number of participants in the live auctions is limited by the population in the locality. Only those people who can visit the auction site at low cost will be interested in the auction. But the car auctions may be dominated by the local dealers. These people will generally bid higher and decrease your chances of winning the car. Online auctions allow anybody from any place to participate in the auction increasing the competition for the car. You may not know who your competitors are because there will be hundreds of bids for the same car.
The live auctions are not advertised much. You can find advertisements of local auctions in the local media or you can get the information from the area website. Live auctions are hold once a week or the frequency is much less. Online car auctions can be found in the online auctions database. As there is no geographical limitation, many online car auctions are held in a day.
To register to participate in the live auction, you have to go to the auction site and register your name. You may have to pay a small fee to prove yourself as a legitimate bidder. Some local auctions allow free participation. You can register in online auctions with your home computer connected to internet. Here also, you may be charged a small fee to take part in the auction.