Explore the range of car auctions for used car dealers
Car auctions are a cornerstone of the used car industry, offering dealers access to a wide range of vehicles at competitive prices. For used car dealers, understanding the various types of car auctions is crucial to maximizing inventory quality, meeting customer demand, and ultimately driving profitability.
This guide explores various car auctions, their pros and cons, and tips for participating effectively.
The open auctions
For dealers, open auctions present an opportunity to find unique inventory and potential bargains, especially on a wide range of models. This popular type of auction works the same way as public auctions but at Arval Trading they are taking place in our online platform MotorTrade.
You can access data about the vehicle being sold, such as the model, mileage, damage, and the starting price of the car auction. Once the auction starts, you can view the last bid placed on the vehicle and decide whether to increase the bid or not. You can also fix a maximum limit you want to bid and let the automation bid for you.
At the end of the allotted time, the highest bidder wins the vehicle and will need to pay it in five working days.
The blind auctions
In the case of blind auctions, you will have access to the vehicle's information. But, in this case, you don't have access to other bids. At the end of the car auction, you will know if you won the vehicle and your final placement within all the bidders. This will help you in future auctions.
The strategy in approaching blind auctions is different from open ones because you can’t rely on others to place your bid.
The mixed quality of vehicles and the unpredictability of public participation necessitate a keen eye and diligent research. Successful dealers approach blind auctions with a clear strategy, thorough vehicle inspections, and set budgets to navigate the competitive and varied landscape, ensuring they secure valuable additions to their inventory at competitive prices. Knowledge about the market price of used cars will help dealers buy at the best price.
Buy now method
Used cars available for dealers in the buy now method is available to everyone at the same time. No competition, no bidding, the first click takes the vehicle.
This method is quicker as you don't have to wait for auctions to end. Replenish your stock in a fast and easy way.
A defined strategy will help used car dealers win more car auctions. Discover other tips to master your auction game here.
A large range of used vehicles
MotorTrade offers many vehicles, ensuring you will find what you are looking for. They are all coming from Arval end-of-lease contracts from all over Europe. Be assured that each used car is inspected before being published on MotorTrade.
Conclusion
Understanding the different types of car auctions is essential for used car dealers looking to enhance their inventory and maximize profitability. Each auction type offers unique advantages and challenges. By familiarizing yourself with the characteristics and best practices of each auction type, you can make informed decisions, minimize risks, and capitalize on opportunities.
Stay informed, stay disciplined, and leverage the diverse opportunities that car auctions offer to build a robust and profitable used car business.
Register today with Arval Trading and start your car auction journey!
