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How to buy a car at auction? What should be done to regularize a motor vehicle purchased through bidding in an event like this? Is it worth buying vehicles by bidding at auctions or not? Is there a way to know the vehicle's history before buying it at an online or even physical auction? How does it work?
Buying products at events like these is becoming increasingly common. In a market increasingly affected by global inflation, it is natural to look for cheaper options, even if they are through auctions. As we mentioned in our specific content about the event, cars are always cheaper at auctions.
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Therefore, for those looking for a vehicle in good condition, but seized and being made available by a price well below market, auctions end up being a great option to save money. And we are not talking about little money as savings, but a lot of savings, so you often leave 10 thousand saved in your pocket.
So, in this content, we will not only talk about the event, but also answer your main question, which is to know how to buy a car at auction. So, if you want to know more about it, follow us to the end of the article for more details. Come on, read with us!
Why are auction cars cheaper?
Before clearly mentioning how to buy a car auction, we need to understand why they are so cheap. In reality, you may have already researched this at some point, but we clarify again for those who still have doubts about the origin of a vehicle resulting from these events.
In practice, the vast majority of these are cars that were taken over by finance companies. This way, if a person is unable to pay a Santander loan, the bank in question goes there and takes the car for itself as a way of paying the debt. In short, all financing carried out by financial institutions are fiduciary alienations.
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This is a type of contract in which the financing has the vehicle itself as a guarantee of non-payment. Thus, when a vehicle is taken by the bank, the debt is paid off and the car goes to auction as a way for the financial institution to be compensated for the “default” it took.
As the banks just want to avoid losing money, as they have often already received more than half of the financing amount, the cars are sold at a bargain price: Sandero 2009 which is worth 25 thousand being sold for 14 thousand, S10 which is worth 120 thousand being sold for 40 thousand, and so on.
Is it worth buying a car at auction?
But after all, is it worth buying from this source or not? How to buy a car at auction? As mentioned by the term, a lot depends on the origin. Always before the auction starts, details of the vehicle are given so that bids can be made by event participants.
Then, the auctioneer will give details about the vehicle: whether there were accidents, crashes, thefts, the car being flooded, or whether it really and simply was a single debt that was not paid, and thus caused the car to be put up for auction. . So, if the origin of the car is good, yes, it is worth buying as the price is often half of what is on the FIPE table.
How to buy a car at auction?
So, how to buy a car at auction? Well, it's simple, just participate in the event. There are no restrictions other than the fact that you must be of legal age to participate in the auction. Furthermore, companies with an active CNPJ can also participate without any major complications.
So, do the following:
- Enter the auction;
- Make your registration online, if the auction is online;
- Wait for the bids to start;
- Place your bid as far as you think is financially valid;
- If your bid was last, the car is yours;
- Follow the procedures mentioned for removing the vehicle;
- Okay, the car is yours.
We always remember the importance of regularizing your car to avoid future problems. This was our guide on how to buy a car at auction, we hope we have answered all your doubts about this extremely valid subject. Have any doubts? Comment below. To the next!
