In this paper, we present and numerically investigate an auxetic metamaterial absorber based on vanadium dioxide (VO2), achieving more than 90% absorption of the incident terahertz (THz) waves between 4.15 THz to 8.43 THz with an average absorption of 98.4%. To our knowledge, the absorption bandwidth is higher than previously reported VO2-based absorbers. The proposed absorber contains two VO2 based resonator rings placed diagonally at the top of the dielectric substrate in such a way as to create an auxetic shape and provide more design space than the existing absorbers. Considering the vector nature of electromagnetic fields in three-dimensional space, numerical analysis is performed while keeping the phase-changing material VO2 in the metallic state. According to the full wave simulation, it is shown that under normal incidence, the proposed absorber provides almost flat and near-unity absorption, which covers from 4.82 THz to 7.53 THz. We describe the physical mechanism of the absorber through impedance matching theory, and the absorber performance is evaluated by observing the electric field distributions at various frequencies. The proposed structure also exhibits a satisfactory tunable range from 2% to 100%, which may satisfy the requirements of re-configurable metamaterial absorbers. We also show that the absorber provides better wide-angle absorption performance than the existing VO2-based models for both transverse polarization i.e., transverse electric (TE) and transverse magnetic (TM) modes. Owing to the higher absorption bandwidth and better tunable range, the proposed auxetic metamaterial has great potential applications in THz imaging, detectors, and sensing.