If the purchase of a new passenger car is planned, in addition to the purchase from the dealer or private seller, the car auction is another option. But this possibility comes to the mind of the fewest buyers.
Car auctions generally arouse the fear of buying a "cat in a bag". Neither a test drive is possible, nor is the vehicle to be examined precisely before the auction. But an car auction represents a variant of the car purchase, where you acquire your desired vehicle with a little luck at a favorable price.
In this guide, we explain how used cars can be bought at auction and for whom this type of purchase is particularly suitable. In addition, we highlight the auction portals BCA and autorola and explain how a customs auction works. If you want to buy a car at a car auction? With our checklist do you have the perfect preparation.
1. How car auctions work?
In an auction, sales platforms are made available, with which the participants binding bids give on the presented objects. They then outbid each other until the highest bid for the product is reached and no more bidders can be found. So the one who within a certain period of time offers the most, the coveted object. auctions are available both locally, where the presence of the bidder is necessary, and virtually, where all you need is an internet connection.
The cars that are auctioned in this way usually come from manufacturers, small companies, leasing and finance companies, car dealers, car importers or banks. Car auctions are suitable for everyone who is interested in the bargain, on the other hand excitement factor when buying a car. It is not uncommon for models to be auctioned off at an amount significantly below the regular prices on the current used car market.
Auctioneers are advised to keep their nerves, because it remains open until the very end whether you have bought the car and if so, whether you have bought it at all, how high the price for it is. It should also be noted that even after a successful auction, it is not clear what you will get for your money. Details will be often not enough named or described, you have no possibility to test the car and you get to know peculiarities of the car only after the purchase.
Advantages of the car auction
- Partly favorable car purchase
- excitement at the auction
Disadvantages of the car auction
- no detailed appraisal possible
- bidding is binding
- Partly for commercial bidders only
|partly bargain car purchase||no detailed appraisal possible|
|excitement at the auction||bidding is binding|
|partly only for commercial bidders|
2. Car auction: BCA, autorola or customs auction?
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In germany there are different providers for car auctions. For example, the customs or other authorities auction cars that are for example seized were. But other suppliers are also present on the market. In the following, we highlight the most important companies and institutions that conduct car auctions.
British car auctions, or BCA for short, is an auction house that currently sells around 1.4 million vehicles in 6.500 sales per year. Originally British, is europe’s largest vehicle marketer now operating in 12 countries with over 50 locations. The branch in germany is considered the strongest auction location on the european mainland.
In addition to on-site auctions, the company also offers a live online auction, where bidders can participate virtually in an event and via chat contacting the auctioneer – this option has been possible for the first time with a car marketer since 2012.
In addition, there is the possibility of a pure online auction – over half of all cars are sold at BCA like this. If a business bidder wants to buy a vehicle at auction here, he has to prevail against an average of up to 600 competitors, and usually within a minute, because a car auction at BCA does not take longer than that.
Autorola.De is an online platform that was founded in denmark in 1996. cars are sold here within four days from commercial bidders auctioned. No costs are incurred by the buyer until the vehicle is purchased. If the car auction was successfully completed, a fee of 190 euros to 750 euros is due.
the amount of the fee depends on the minimum price of the car. The advantages of this portal compared to classic auction houses are that it is available around the clock and the offer of over 70.000 registered dealers can be reached from the comfort of their own homes.
customs or other public authorities sell confiscated and decommissioned vehicles at auctions. For these car auctions are commercial dealers as well as private individuals approved. Since 2009, the tax offices of the federal states have been required by law to auction off seized items on the customs’ central internet platform.
the police also offer seized or confiscated goods and found objects here, so that a customs auction may well result in an wide range of offers of vehicles can be found. Especially for craft businesses, this car auction of the authorities is advantageous, since a large number of trucks or transporters are offered here. In addition, the customs as a provider is to be classified as quite reputable.
However, there are also some disadvantages: the auction is simply canceled all of a sudden, for example, when the seized item is triggered by the owner. In such a case, the highest bidder has no right to claim that the purchase contract remains in force.
The offer of BCA and autorola is directed both at the purchase and at the auction only to commercial customers. In order to buy a car at auction from these providers, you as a private individual need the appropriate contacts.
3. checklist car auction
If you are planning to buy a car at a car auction, there are some important points to consider beforehand. We have compiled a checklist for you to check before the car auction whether you know all the relevant facts and complete your auction successfully.