Buying a Car

Buying a Car

Once you’ve found a car you’re interested in, here are the steps you should take to bid confidently and, with any luck, win the auction!

1. Register to Bid

To contact the seller directly and place bids, you must first Register to Bid with a valid credit card and phone number. Winning bidders pay Cars & Bids a 5% buyer’s fee on top of the winning bid amount (minimum of $250, maximum of $7,500).

2. Perform Due Diligence

While we’ve tried to make buying a car online as safe and easy as possible, it’s ultimately your responsibility to perform your own due diligence and make sure that the car you’re considering is right for you – prior to placing a bid.

• Review the listing thoroughly, including known flaws, the vehicle history report, the vehicle inspection report (if applicable), recent maintenance, photos, etc.
• Ask the seller – via comments, Seller Q&A, or the “Contact” feature – any questions that you may have about the vehicle.
• Arrange to inspect the vehicle in person, or work with the seller to schedule a detailed pre-purchase inspection (“PPI”) at a reputable shop in their area (at your cost).

3. Arrange Financing and Logistics

To ensure a smooth transaction, you should have the following organized prior to placing a bid.

• To facilitate your purchase, we’ve teamed up with LightStream to make financing easy and fast for users with good to excellent credit. You can check out rates and payments - and apply for a loan - directly from each auction! LightStream financing is not tied to a specific vehicle, and you can get your loan funded - and money deposited into your account - as soon as the same day you apply.**
• As a reminder, if you plan to finance this purchase, work with your lender to get your financing approved ahead of time - and keep in mind that some lenders may require specific vehicle information and may have year and mileage restrictions.
• Discuss transportation and storage timelines (if applicable) with the seller, and if you’ll be shipping the vehicle, get a quick and easy shipping quote directly on the auction page before bidding.

4. Bid

We’ve made bidding easy!

• When you bid, we place a hold on your credit card for the buyer's fee – if you win, your card will be charged and you will pay the seller directly for the vehicle, otherwise, the hold will be released at the auction’s end.
• Bids are binding, so only bid if you fully intend to purchase the car and you have performed the requisite due diligence, because you might end up as the high bidder and there are no refunds.
• To ensure the bidding process is fair for everyone, bids placed within the final minute of the auction will reset the auction’s time remaining back to 1 minute – giving others the opportunity to bid.

5. Win the Auction

To buy a car on Cars & Bids, you must win the auction by ultimately being the highest bidder – and, if the auction has a “Reserve,” by placing a bid that meets or exceeds the seller’s hidden “Reserve” price. If the auction has “No Reserve,” then the highest bidder wins it regardless of the amount they bid.

After the auction closes, you’ll have the option to use Cars & Bids SafePay to complete your purchase quickly and securely, 100% online. You’ll also receive the seller’s contact information (and vice-versa) in order to finalize the details and logistics of the transaction. Buyers are expected to pay for the vehicle in-full within a week of the auction closing. Learn more about Finalizing the Sale.