In the world of Independent Auto auctions there is a lot to know about companies who remarket and auction off excess or unwanted vehicles from a leasing company. companies like Manheim, Openlane, OVE, and SmartAuction serve as intermediaries for leasing companies who have cars they need to sell. In car leasing, a car is either returned to the leasing company at the end of the lease term or it is bought by the driver. The cars that are not bought are then remarketed with companies like Manheim or other automotive remarketing companies. The biggest thing to consider is that, should a car not successfully sell at auction, it will be disposed of because of depreciation or the amount of usage put on it.
GSA auctions differ a bit from auction like Manheim coordinates. General Services Administration auctions provide similar selling processes but is meant for items and property procured by either the government due to repossession or selling it off from a government agency or project that has since been disbanded or shut down. Where Manheim serves as an intermediary for vehicle leasing companies, GSA auctions act the same way for government property that is decommissioned or no longer in service. Insurance auto auctions also act this way in the sense that they resell vehicles that are facing total loss or have undergone serious amount of depreciating damage. Manheim typically offers used vehicles that have reached the end of the life on their lease as opposed to damaged items.
Despite what people think of when considering a live auction system like the one Manheim uses, there have been a lot of improvements to the process thanks to technology and the internet. There are a wide variety of new technologies and services offered by Manheim and similar companies that handle vehicle remarketing. The real beauty of working with online auction companies like Manheim is that you can place bids from across the globe thanks to the ability to view, stream, and participate in the auction as long as you have access to the internet. Take some time to learn about the online auto auction process and give yourself the option to skip the trip to the dealership by finding out how you can bid online.