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The world of online car buying is filled with different types of auctions, which can be easily found using the Mi Auto Auctions App or similar platforms.
Different Types of Online Auto Auctions
Public Auctions are open to everyone and sell a wide range of used cars, but the condition can vary.
Dealer-Only Auctions are for licensed car dealers. These often have high-quality, well-documented vehicles like lease returns or trade-ins.
Salvage Auctions sell cars that insurance companies have declared a total loss due to damage (accidents, floods). These are popular for buyers who plan to repair the car or use it for parts.
Government Auctions sell former government or seized vehicles, often in good condition because they were well-maintained.
Online platforms also use different bidding styles, like Live Auctions (real-time bidding) and Timed Auctions (bids placed over a set period), or a simple Buy Now option.