3 Tips To Buy Motorcycles At Online Salvage Auction

If you have been looking to buy a used motorcycle, an online salvage motorcycle auction might be a great place to start. In general, online auctions feature a large assortment of motorcycles in varying conditions. Factoring in repair costs, you may be able to score a motorcycle for much less at online auto auctions than buying a new model. However, participating in motorcycle auctions might be scary for the inexperienced, given that the bidding process is fast and involves a cost-benefit analysis since there are salvage vehicles involved. In this blog, we have listed the key pointers that will assist you in buying salvage title motorcycles for sale at online auctions.

1. Find a reliable auction site

First and foremost, you need to find a reliable online salvage motorcycle auction site. There are certain risks involved with using online auction sites, some of which are distinct from typical physical auctions. For instance, you cannot physically inspect the vehicles and you have to rely on the images and information provided. So make sure to conduct a thorough research about the auction site you are about to deal with. Read their online reviews, and client testimonials and check whether they are associated with reputable shipping and car vehicle inspection companies. 

2. Do the math

One of the main reasons why people opt for online auction sites is that they want the convenience and time for assessing the value of a motorcycle which is not usually available at fast-paced physical auctions. Check the full information on the listed bikes including the damage and loss type, vehicle history, start code, and even estimated repair costs. Avoid bent frames or engines that aren't in working condition, unless you plan to perform extensive repairs. You should have a clear view of the expenses involved in repairing the salvage motorcycle. Now consider the value of the new bike of the same model, its depreciation, repair, and insurance costs to arrive at a fair bidding value of the salvage bike. If the repair costs are higher than the bidding price, then the deal may not be good for you.

3. Stick to a plan

Bidding can be a great way of finding high-quality repossessed bikes for a good price, but don't get sucked into a bidding war. There are always bidders who are trying to jack up the prices unfairly, so you should be cautious. Also, there are always multiple good-quality motorcycles available for sale at online auto auctions. So keep your options open and don't be scared to walk away if the bidding price for your shortlisted motorcycle is exceeding the amount you're willing to spend. You don’t want to end up paying a large sum for a bike that might cost you a fortune to repair. So make a plan, shortlist multiple bikes, decide on a budget and stick to it. 

Final word

An online salvage motorcycle auction can be a terrific option for you to buy a salvage bike that can be repaired for a much cheaper price than you'd find elsewhere. However, you must be careful and approach the bidding process with caution. Before participating in any live bids, do read the FAQs of the auction site and get acquainted with the bidding process through the tutorials provided by the site.