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How do you know if your car is up for auction?? Is there a way to check if the vehicle was auctioned or not in the car's history? Is the type of research the same as that carried out in the case of motorcycles or not? What are the advantages of buying an auction car over regular dealer cars? How much do they cost financially?
Knowing about a vehicle's past is of paramount importance when buying. So much so that more and more people are looking for relevant information about the past of fines and other records of a vehicle, be it a car, a motorcycle, a truck or any other vehicle they are buying.
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In addition, there are also auction cars. They are not always cars with a bad past, quite the contrary: we could be talking about good vehicles, which just weren't fully paid, went to attachment and, finally, caught by the finance companies as a way to avoid an even bigger default.
In these examples, we are talking about cars in perfect condition. In today's content, we are going to tell you about How do you know if your car is up for 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!
How do I know if the car has been auctioned?
But after all, how do you know if the car has been auctioned? In reality, unfortunately, there is no way to know this information. Unless the owner who sold you the vehicle, and if this was the one you purchased at auction, tells you that it was sold at an event of this type, there is no way to know this information.
So no matter what you do researches direct by license plate number and Renavam, for example, there is no way to find out if the car was auctioned. But why? Because whenever you check the vehicle's history through Renavam, and check the owners, the most that will happen is that it was seized through fiduciary alienation.
Fiduciary alienation happens when the financed asset itself becomes the guarantee of the financing. So, when you finance a car and stop paying for it, the finance company can then take it back as a way of being reimbursed. In this way, in the history of owners, the bank/financial company will appear as the owner through the seizure of fiduciary alienation.
When you see this information in the history, you can then imagine that the vehicle may have gone to auction, however, it is not certain that this happened: many finance companies have large resales of semi-new and used cars, precisely to resell these vehicles that were not fully paid for .
Thus, it may be that your vehicle purchased at the dealership was then purchased at the dealership in a semi-new or used car company from a finance company. It may seem confusing, but, in short, there's no way to know if the car has passed through auction, only if the seller was the bidder and ended up telling you that.
How do I know if the car has been auctioned?: How much does an auction car cost?
But how much does a car cost? auction? In general, the price varies a lot since there is no specific value stipulated, mainly because we are talking about many cars, different models, brands and years, in addition to the condition of the vehicle that will directly influence its sale value.
Still, we can stipulate a rule: the 40% rule. This is an estimate that goes from the initial bid up to 40%. Generally, vehicles are sold for around 40% of the official value of their FIPE table. Remembering that it is a rule, but not an obligation: other vehicles can reach 70 or 80% of the FIPE value.
However, it is still a good value, since dealership and resale cars are always above the FIPE, vehicles sold by the owners are in the FIPE range, meanwhile, in an auction we can then have a discount of up to 60% on the real value of the car. Is it a good economy or not?
This was our guide on how to know if the car has been auctioned. We hope to have helped you with your doubts about the matter. If you still have any questions, ask below in the comments and we will answer you as soon as possible. To the next!
