Have you been planning to buy your next (or your first) car? Is it the finances that are keeping you away from your own four-wheeled machine? Well, if your limited budget is holding you back, then it's time to relax and look for your own car.

Now you can participate in an online auto auction and buy a used car at a fraction of its market price. Yes, online car auctions that list wrecked, insurance seized, flood damaged, totaled and repossessed cars are a popular choice for car enthusiasts who are on a small budget. One can search online for insurance auto auctions and salvage car auctions.

Advantages of online car auctions

Car lovers can choose their next car from popular names such as Nissan, Toyota, Honda, BMW and more. Whatever model type you want - family sedans, 4WDS, hatchbacks, you can find them online. If you want to upgrade to a bigger car or want a second car for your growing family at reasonable prices, various online seized car auctions are nice options to begin with. Some benefits of participating in these online insurance salvage car auctions are outlined below:

• From the comfort of your home, you can view thousands of vehicles from different locations. One can search for vehicles using various criteria such as make, model, location and more. Further, the Vehicle Identification Number (VIN) given along with the vehicle details enables you to learn about the vehicle better.


• Most websites offer a free membership or registration. After registration, you can simply place a refundable security deposit and start bidding from any place across the globe.


• Online salvage car auctions list automobiles at very low prices. Even luxury cars are auctioned at throwaway prices. The online bidding could start at as low as $500.


• Online auctions keep one away from the stress of travelling to an auction venue and the hassles involved in dealing with the car dealers. Moreover, a physical search for vehicles involves a great deal of time and other monetary expenses.


• Since all transactions take place online, one can just sit back and relax.


• Most online auction websites assist with the delivery of the vehicle as per pre-set terms and conditions, which is a big thing.

Online auto auctions are a good way to buy a used car. However, there are a couple of myths associated with these. Let us see what they are.

Misconceptions about car auctions

• Misconception #1: It is almost impossible to insure a salvage car
  
  It is definitely not impossible! Since salvage cars come very cheap, their owners do not mind getting them insured. Most companies offer liability insurance instead of comprehensive or collision coverage that is why people opt for salvage insurance. This protects owners against a lawsuit that can arise from a collision.



• Misconception #2: Salvage vehicles are totally damaged
  
  Most totaled cars available on online salvage auctions are not completely wrecked. Flood or collision damaged vehicles may require massive repairs but insurance salvage cars at auctions are in fairly good condition and work well after little to moderate repair.

If you are willing to spend some time and do research, buying insurance seized vehicles online can be a wise decision. Moreover, those who love to rebuild cars can get amazing deals at such auctions.