Appearing a used car at the judicial auction is a way to buy a used vehicle exploited by very few and known by few people. On the other hand, judicial car auctions can be a great way to buy a used car at a competitive price. Vehicles that end up at auction, following legal proceedings, can in fact turn out to be real bargains for buyers of used cars in chandler.

Buying a car at auction can therefore allow you to make a good deal, but to do so it is necessary to know how the procedure works, also taking into account a series of potential risks that must be taken into consideration before making the purchase. To clarify all the doubts, let’s go below to better understand how to buy a car at the judicial auction, how to participate and what type of car you can buy.

Differences between auction at auction and without

To understand how to buy a car at auction, you need to take a step back and understand how the auctions themselves work. First of all it is important to know that there are two types of auctions: those at auction and those without. The main difference is in the way the offer is presented.

The auction includes a bid upwards and the car is awarded to the highest bidder. An “auction base” is established a priori , the minimum sale price which, if not reached, makes it impossible to sell the car.

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In the second modality – the auction without enchantment – the interested parties must deposit an economic proposal in a sealed envelope at the registry, which must also contain the indications regarding the payment methods and the delivery date.

Now that we have a better understanding of the types of auctions, let’s see who can participate in an auction to buy a car and how. At auctions you can find cars of all kinds , coming from seizures, bankruptcies, foreclosures, or bodies of crime. Sometimes they are old and in poor condition, other times you can find semi-new cars in excellent condition. It is not uncommon that – in the event of car dealers failing – real bargains, even classic cars, end up at auction.

But who can participate in a judicial auction ? Participation in the auction is public, so everyone can participate, the only foreclosure is addressed to any debtor . You can do this in person or by delegating an attorney. There is the possibility, if the auctions were also transmitted on the web, to take part in them also online.

Participants in the auction must also pay a deposit , which for the auction without auction is equal to 10% of the price entered in the offer. For auction auctions, on the other hand, the deposit is established by the judge , but in any case it cannot exceed 10% of the basic auction price.