Participating in a car auction is a very interesting option for those who want to purchase a car in excellent condition and at affordable prices. However, there are some precautions that must be taken before participating in an event like this.
Adverts
See our complete guide on how to participate in a car auction and important tips to avoid fraud and theft.
How to participate in a Car Auction?
There are numerous public and private bodies that hold car auctions. Furthermore, both work in the same way, as you will be given step-by-step instructions on how to participate and then practical tips on how to participate. auctions.
Adverts
Register
The first step to take is to choose an auction house to participate in the car auction. Since there are many on the market, not all of them are reliable, but we will give you tips on how to safely participate in an auction.
Adverts
As soon as the candidate decides where they will participate in the auction, they must register; which most of the time only asks for the following documents: ID, CPF, contact details and proof of residence.
Finally, you must validate your registration and you will be able to participate in the car auction at the chosen house; In general, houses do not usually charge registration fees.
read more: How to participate in a Used Car Auction?
Notice
Immediately afterwards, the candidate must read the auction notice; where the official data will be contained; such as minimum bids, items auctioned and quantity of lots.
Many fail to read the notice and end up getting stuck; since the notice will contain all information about the vehicles; payment methods and additional information of utmost importance.
Attention: reserve a lot of your time reading the notice and deciding which car you want to purchase.
Since the notice will contain the dates and additional information for participation in the auction. After that, all you have to do is be present in the auditorium on the agreed date and start bidding on the desired vehicle.
How the Car Auction works
Some vehicle lots are made available to the public in the auction auditorium. And then, according to the notice, there will be a minimum bid value and above that, the others will bid and bid more.
There is a time limit for the highest bid, most of the time it is between 5 and 10 minutes. The candidate who bids the most for the car takes it home; From then on, the journey is just beginning.
It is necessary to regularize the vehicle, bring documents up to date and several other things; which can be seen in our article about details to sell auction car.
At the end of 'I'll give you one, I'll give you two and sold', the batch ends and another begins; there can be more than 01 in parallel.
How do you know if the auction is safe?
Some auction houses do not have an official auction accreditation seal; and then, no matter how organized it is, it is not in accordance with the union and can cause headaches later.
Therefore, the best way is to enter the website Safe Auction and by entering the company's data, you can have an overview of the house and its reliability.
In cases of car auctions held online, simple details can be checked in the website's spelling and writing, as well as possible design errors; Furthermore, always choose accredited and public bodies to purchase auction cars.