The Honda Accord has been a hot seller since its launch in 1976; however, these vehicles went out of production for a while, but Honda has recently introduced a new Accord model with advanced tech features and an updated powertrain.
Purchasing a Honda Accord for your first car is a very good decision because it is equipped with a reliable and powerful engine. When shopping for this midsize sedan, it is better to purchase an older model, as the price of a new one can go as high as $47,000. However, you can buy repairable or salvage Honda Accord with clean titles at a comparatively low rate from an auto auction like A Better Bid. Online car auction allows you to buy a car at wholesale rates from the comfort of your home.
Before you take up the virtual bidding paddle, it is important to learn these things about bidding on a Honda Accord at an auction.
Learn the Market Value of the Accord
Participating in a live auction is not the same as buying a car from a dealership. Live car auctions are quite competitive, as you have to outbid multiple individuals to get your hands on the selected model. You can easily get swept up in the excitement and accidentally bid more than your bank account allows you to spend.
Since car auctions like ABB require you to pay the total amount within three business days, it can become difficult to cover the entire payment. As a result, you may lose the buyer deposit, as well as your rights to the vehicle.
To prevent this downward spiral, you should learn the market value of the Accord and make the budget accordingly. Remember these values during the bidding war to ensure you don’t end up going above your budget or paying more than the car’s market worth.
Sign Up with a Reputable Auto Auction
Reputable auto auctions are registered with professional buyers and provide complete information about the vehicle on the listing. For example, ABB is a Copart-registered auto broker that provides vehicle details on the listing and offers a vehicle history report (to Pro and Premium members) to ensure you make the right buying decision.
ABB also allows you to bid on vehicles that are mostly available to car dealers, so you don’t have to pay fees to a middle party and end up buying a car at an economical price. You can even estimate the final tax cost before participating in the live auction by entering the VIN or Lot number on ABB’s fee calculator. This way, you can determine beforehand whether or not the listed Accord falls within your budget after sales tax and auction fee.
One of the best things about purchasing a Honda Accord from ABB is that you don’t have to hassle yourself with going to a dealership. Being a 100% live auction, all you need is your phone or laptop to shortlist a listed model, create an account, and place bids. You can receive the car at your doorstep using ABB’s shipping service.
Always Check the Vehicle History Report
The vehicle history report informs the buyer about the car’s previous owners, accident history, title status, odometer reading, damage detail, recalls, and repair history. With this information, you can decide the final value of the car and don’t end up bidding extra.
A vehicle history report also tells you the current condition of the car and whether or not it is reliable and safe for transportation. For example, a vehicle with water damage may have a spotless body, but it will not be safe to drive. If you bid on a vehicle without checking its vehicle history report, you may buy an Accord without knowing its driving condition and have to pay for necessary repairs.
To avoid these situations, you should always check the report and consult it with a professional mechanic to make the right decision. When buying a Honda Accord from ABB, you can request up to 50 vehicle history reports by signing up for a Premium or Pro membership.
Pay Attention to the Car’s Title
A lot of a car’s value is determined by its title, as it is given based on its history and current condition. For example, a salvage title Accord will cost at least 25% less than a clean title sedan. Most car auctions only provide clean and salvage title cars; however, there are four types of car titles, which are:
- Clean Title: This title means that the vehicle has never been deemed a total loss and has no lien placed on it. Therefore, clean title cars have a slightly higher resale value.
- Clear Title: This title shows the vehicle is free of financial bindings that can prevent it from being sold. It also means that the vehicle had minimal damage in the past, which is now repaired completely.
- Salvage Title: This title indicates the vehicle was extremely damaged due to an accident, collision, or a natural calamity. A salvage title is obtained if an insurance company officially states the car as a total loss, which means its repair cost is higher than the car’s worth.
- Rebuilt Title: Rebuilt titles represent cars that previously had salvage titles, but now they are completely repaired and declared safe to drive by the DMV.
Once you buy an Accord, its title will determine whether or not you have to spend more money to restore it to a drivable condition. Therefore, check the car title in the auction listing to ensure you are not blinded at the last moment.
Honda Accord is a comfortable and speed-loving car, which makes it a great first-time vehicle. To buy this car with a clean title at economical rates, purchase it from a reliable auto auction like ABB. However, make sure to check the Accord’s current market value, vehicle history report, and car title to make an informed buying decision.