Vehicle Auction: Is it safe?

Discover the advantages and disadvantages of purchasing a vehicle at auction

Benefits

Vehicle sales at auction end up being well below the list price, costing 30% less. This is because the vehicles sold are, for the most part, seized due to some irregularity with the law.

A great advantage is also the variety of models and condition of conservation of the vehicles, making it possible to find popular vehicles up to high-end models, such as Ferrari and Porsche.

Disadvantages

Most of the vehicles auctioned are seized vehicles due to some irregularity with the law, which is why they have particularities such as: irregular documentation, excessive interest due to delays, claims that were not reported to the buyer, mechanical breakdowns, among others.

It is possible, however, to circumvent these issues, or make them more of a part of your financial reality, as, in auctions that really follow the laws, it is possible to check the vehicle's documents, check the state of conservation and possible mechanical damage beforehand. of the purchase.

How to minimize risks of the purchase

There is no guarantee on a vehicle purchased at auction, which is precisely one of the things that makes them cheaper, so choosing a trustworthy auction house is the first step to avoid any unpleasant surprises.

If the auction vehicle presents a mechanical problem, the responsibility for repairs lies with the buyer, that is, yours, so be sure to check all the conditions of the vehicle you are purchasing before bidding on it.

Before venturing into the world of auctions, have a separate money, something that won't be missed, do this planning, because auction vehicles have cash payments, and generally a deadline to pay it off, sometimes with a fine if you don't do it on time.

Vehicle documentation is also the buyer's responsibility, so check the vehicle's fines and taxes before purchasing.

Idec tips when purchasing

THE Idec (Brazilian Institute of Consumer Protection), has some tips for when purchasing an auction vehicle:

• Participate only if you have money set aside: Payment is in cash and has a deadline.
• Take the vehicle to your trusted mechanic: make a safe assessment.
• Do not agree to pay anything more than the value of the vehicle: according to Idec, this is not legal and must be reported.