Whether you’re looking to buy clean or salvage vehicles, Salvagebid is the place to be. Not too long ago, salvage vehicle auctions were limited to individuals with a dealer’s license. Public car auction platforms such as Salvagebid have changed that for good, opening up these auctions to the general public. That said, if you are planning to buy a car through our public car auctions, it is important to understand the registration and membership process, which we will cover in this blog post. Read on.
How to start bidding?
To start bidding in our public car auctions, you need to register on our website, or log in if you already have an account. As a part of registration, you’ll be required to upload a copy of a government-issued photo ID, to verify your identity (buyer must be at least 18 years old) and ensure the accuracy of paperwork processed. In addition, you’ll be required to place a refundable security deposit that should be at least 10% of your intended bid amount (the minimum being US$600).
What are the membership options?
Guest Membership
Salvagebid offers a free Guest Membership that allows you to try out the platform. As a guest member, you can make one vehicle purchase up to $2,500. However, if you wish to bid over $2,500 or purchase another vehicle, you’ll need to upgrade your membership. Guest Memberships have transaction fees of 10% with a $299 minimum. Guest members cannot bid during Live Auctions.
Starter Membership
For only $69 per year, the Starter Membership offers you more features. With this membership, you can participate in both Preliminary Bidding and Live Auctions. You can purchase two vehicles, one at a time, with a maximum value of $5,000 each. The transaction fees for Starter Memberships are 9% with a $299 minimum. Additionally, you receive one free vehicle history report provided by ClearVin.
Also Read: Useful Tips When Bidding at Salvage Car Auctions
Premium Membership
If you’re looking for greater flexibility, the Premium Membership at $199 per year is an excellent option. There are no bidding or purchase limits with this membership. Transaction fees for Premium Memberships are lowered to 6% with a $250 minimum. Moreover, you receive ten free vehicle history reports and benefit from discounted transaction fees. Premium members also receive dedicated assistance from a representative throughout the buying process.
VIP Membership
The VIP Membership, available for $349 per year, offers the most comprehensive benefits. With VIP status, you enjoy even lower transaction fees at 4% with a $200 minimum. You also receive a 5% shipping discount and twenty free ClearVin vehicle history reports. The VIP Membership renews annually.
What is a “Bidding Limit”?
When joining Salvagebid, it’s important to understand that your Bidding Limit determines the maximum amount you can bid, regardless of your membership level. The security deposit you place is equivalent to 10% of your Bidding Limit. If you make a security deposit of $600, for instance, you can place a bid on up to $6,000.
How to proceed?
Once you’ve completed the registration process and placed your security deposit, you can start bidding on Salvagebid. The account information you provide on Salvagebid should match your driver’s license to comply with DMV regulations regarding ownership transfer and title processing. If you decide to cancel your membership, you can do so at any time through the “Renewal Settings” in your account. It is, however, important to note that membership fees are non-refundable.
Wrap Up
Salvagebid provides a convenient and accessible platform for anyone interested in purchasing clean or salvage vehicles through online public car auctions. With different membership options tailored to varying needs and budgets, Salvagebid offers flexibility and benefits to its users. So, what are you waiting for? Register with us today and take your pick from the largest auto auction inventory in North America. If you have any questions about our auctions or any of the clean or salvage title cars for sale featured in our inventory, simply call: +1 (360) 347-1300 or email at: support@salvagebid.com.
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