If you haven’t attended an auto auction before, then you may be wondering why auto auctions are more popular than ever. The truth is that there are a lot of different reasons that people attend auto auctions. Not only are more people attending auctions, but they are choosing them over going to a dealership or buying from a private seller. In the end, it all comes down to benefits. Here is a closer look at why auto auctions are more popular than ever.
The biggest reason that most people become interested in auto and car auctions is because they give them a chance to save money, while still getting a quality used vehicle. There have been reports of people getting used cars at a 90% discount over what can be found a car dealership. Even if you end up paying more than the average price at an auto auction, you would still normally spend less than if you purchase one directly from a dealership.
Independent 3rd Party
Another reason why auto auctions are more popular than ever is because people are tired of negotiating with people and businesses that are out to serve their own interest. When you go to a dealership, they are trying to turn a profit and meet a quota. Neither of these facts benefits you. If you purchase from a private seller, they are in it for themselves. With an auto auction, the auction house has no stake in who the winning bidder is or how much they pay. Being able to deal with an independent 3rd party means that they are looking out for both the buyer and the seller equally. If they were to arbitrarily back the seller, then it would tarnish their image. This is very empowering for the average car buyer.
Easier Access to the Entire Process
Improved access has also played a large role in why auto auctions are more popular than ever. One of the biggest reasons that people used to avoid these auctions is because they either didn’t know about them or because the listing was never up to date. Now that more auctions are going online either in part or in their entirety, it is much easier for the average person to be a part of it. Another aspect of access that has become more friendly is the preference for open auctions. In the past, almost every auction was closed, which means that only people with a dealership license could attend and make a purchase. Lending institutions and government agencies have discovered that holding an open auction garners much more interest and gets much better results.
As you can see, there a number of reasons why auto auctions are more popular than ever. The biggest reason is that they can save people a lot of money. Second, people enjoy purchasing a car from people who don’t have a stake in what they pay, which means no incentive to inflate the prices. Finally, now that finding out auctions and getting access to them is easier than ever before.