This is How to Buy Auction Cars to Get the Cheapest Price

The way to buy auction cars is a smart step that friends must know if they want to buy used cars at a low price. It should be noted that buying used cars at auction houses is more profitable.

It cannot be denied that the prices of used cars offered are usually below market prices. Don't be surprised to see many auction participants who are sellers or car showroom owners. It is clear what their goal is, especially if not to gain a large profit by buying auction cars to resell.

Before buying a used car at the auction house, it is important to know the following things to get the cheapest price.

1. Choose a trusted auction house

Currently, there are quite a few well-known car auction houses. Just mention IBID Serasi Auction House, Bidwin, and JBA. Government agencies also often hold auctions for seized goods, such as KPK or Lelang Indonesia. The only difference is the source from which the goods or cars come.

Learn the auction process at that place, know the schedule and location. In fact, some auction houses offer online auction services, so friends can participate in the auction without coming to the location. After that, friends just need to follow the existing procedures.

2. Check the condition of the car

Each auction house has a stock of used cars in certain conditions. Therefore, choose an auction house that is currently open house for the car you are interested in.

Before starting, it is advisable for friends to check the condition of the desired car, as one of the reasons for the low price of the car is that it is sold in its original condition, meaning without being polished. The units offered should also match their grade, meaning the higher the car's grade, the more expensive it can be. Prospective auction participants can find out the condition of the car through the auction lot list.

3. Fill out the form

After knowing the condition of the car, it is time to register as an auction participant by filling out the form according to personal data and signing it. Then there will usually be a security deposit as an auction deposit paid per vehicle that will be bid on.

4. The auction process

If you have received an Auction Participant Identification Number (NIPL), friends can participate in the auction process which will be guided by the auctioneer according to the schedule and location that has been set. Usually, the auction price has been set, for example, with a nominal increment of Rp500 thousand per bid. The auctioneer is the one who determines who the winner will be.

Auction winner

Auction participants are declared winners after there is the highest bidder and the gavel is struck three times, which indicates that the decision is valid from the auction officer. The winner is also required to pay for the car within the given time frame. If it exceeds that, it will be considered a breach of contract or the security deposit paid at the beginning will be forfeited and fully become the property of the auction organizer.

What about those who lose? Losing auction participants will have their security deposit returned within a certain time frame. The amount also depends on the applicable requirements. But for this security deposit, it is usually transferred 100 percent to the auction participant's account by showing the NIPL.

Car unit collection for the winner

Auction participants are expected to bring proof of payment to the counter at the auction house as proof of payment. Then a unit release letter and a BPKB collection letter will be given by the auction house. The operational team will conduct a checklist for the vehicle's exit and the signing process. After that, the car can be taken home and fully becomes the property of the auction winner.

Read also: Tips for Getting Cheap Daihatsu Cars Along with Recommendations

Author: Dinno Baskoro