One of the best things about online auctions is that they get their inventory from a number of different sources, including ex-government cars, ex-police cars, cars from Copart and Insurance Auto Auctions, and more.
In an online car auction, the buyer competes with other buyers rather than the seller during the bidding process. Once you win the bid, the car will be awarded to you and there can be no refunds. So, you need to be extra careful about what kind of car you want and how much you are willing to pay for it.
When you start bidding on a car of your choice, you will see that the bids open with a too-good-to-be-true cheap price. This is the reserve price that is set by the seller and the lowest amount that will be accepted. If no one is willing to bid even up to the reserve amount, the car may not be sold. However, if a person makes a bid, whether at the reserve price or above it, if not else bids on it, he will have to complete the sale and buy the car.
The process is pretty simple, though you need to be cautious and do all your research to ensure you get the best car for yourself. Here is how you can do that.