THE auction cars has caught the attention of people who want to acquire a vehicle for a lower price. But it is essential to understand various details about the operation of this negotiation mode before buying a car and risk regret.
In the following lines, the Digital Look You have separated a lot of information on how the car auction works so that if you really decide to participate, enter the negotiation knowing important details to get along and also avoid getting into some complicated situation.
What do you need to know
What is car auction and how does it work?
Car auction is a form of public selling in which cars are offered to individuals or legal entities that enter a competition to finish the vehicle. Win who offers more money for him.
Next, we have separated all the details about this type of marketing for you to understand how it works.
Auction modalities
Legally, there are two types of auction that can be held in Brazil: the judicial, which happens in order of a judge, usually during processes such as inventory, execution of debts or bankruptcy, in which assets pass by attachment and are sold for debt discharge.
The other type is the extrajudicial, which occurs outside justice and is based on contracts or legal authorizations. This happens, for example, in finance with fiduciary alienation, being common in insurers, rental companies or financial institutions. It is noteworthy that there is no certain frequency for them to happen.
Who can participate?
To participate in the auction you must be at least 18 years old. In addition, the interested party must register, sending all the documentation required by the organization of the event and, after that, awaits the approval of the data. In auctions that are online, you can seek the driver’s tab for the chosen lot.
Rules
When sending your documents to participate in an auction, whether online or in -person, read the public notice, so you can follow all the rules and meet the necessary requirements in your participation.
Contact with the vehicle
During the bid or even on a previous date, the person who will participate in the auction may have contact with the vehicle. Even at the Auction Palace, one of the largest auctioneers in Latin America, it is possible to check the vehicle a day before with a technical professional.
This is a very suitable action to minimize risks when purchasing a car from an auction, as there are no guarantees and sales concessions equal to those of a dealership.
It is also essential to verify the administrative situation of the vehicle with Detran to see possible fines, insurance, IPVA delays and other details.
Vehicles offered
In an auction, it is possible to find different types of cars, such as utilities, which are cars used for work such as a Fiat Strada and Volkswagen Saveiro. You can also find SUVs, hatches, sedans, pickups, sports, even trucks and motorcycles.
Read more:
Car
The cars are sold and delivered in the state they are in, and can be classified as in good condition, that is, without malfunctions. However, there are also the damaged, which are divided by the following categories:
- Small mount: These are cars that suffered light damage, usually in external parts, such as doors, bumpers and headlights;
- Average assembles: Vehicles that have slightly more severe damage and may have reached structural and even safety parts of the car. Therefore, those who finish it will know that they will need to fix it and then submit it to an inspection by an accredited company, so that it can circulate again;
- Great mount: cars that no longer serve to walk. They are usually much cheaper and are bought by people who just want to enjoy the good pieces.
FAILURE AND PAYMENT
After finishing the vehicle, it is normal for the participant to have to pay within 48 hours. The amount must be paid according to the rules set forth in the notice (most of the time it is in sight, but there may be cases of installment in established deadlines). There are also events in which the deadline to give the amount of the finish is up to 7 days.
It is worth mentioning that there are cars that can be funded. For this, there is a credit analysis of the person who bid him. However, this type of information is also usually in the notice.
Documentation
After payment, it is necessary to sign the documents, register the vehicle in the name of the new owner and resolve any legal issues. Authorization for vehicle property transfer (ATPV-e) usually takes three to 90 business days to be issued.
In addition to the amount of the bid, the new owner of the vehicle must also bear other costs, such as the auctioneer’s commission, which ranges from 5% to 10% in relation to the bid. In addition, there are the administrative rates of the auction organizing company and there may be expenses with car transport and regularization of documents.
