Online public auto auctions can offer exceptional deals on various vehicle makes and models. Before participating, understanding key aspects will help ensure a successful buying experience.

Sales Status Types:

• Pure Sale: Direct purchase at listed price
• On Approval: Final high bid requires seller approval
• On Minimum Bid/Reserve: Seller sets minimum acceptable bid

Auction Stages:

1. Preliminary Bidding
   • Place bids after sale date is set
   • Use 'Buy It Now' option if available
2. Live Bidding
   • Occurs on designated sale date
   • Quick process lasting few minutes

Buying Power:

• Determined by security deposit
• Must be minimum 10% of intended bid value
• Example: $10,000 vehicle requires $1,000 deposit

Important Tips:

• Conduct license plate lookup or VIN check before bidding
• Get professional inspection when possible
• Research vehicle history thoroughly
• Pay attention to auction dates for structured buying
• Consider timing and availability of auctions

Safety Measures:

• Always verify vehicle condition
• Review all available documentation
• Understand auction terms and conditions
• Consider transportation costs
• Factor in potential repair expenses

A thorough understanding of these fundamentals will help you navigate online auto auctions effectively and find the best deals while avoiding common pitfalls.

Remember: Success in auto auctions comes from careful research, proper preparation, and disciplined bidding within your established budget.

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