Who Can Buy from Automotive Auctions?July 28th 2017
Vehicle auctions are amazing places for people to go to pick up a car, bike or boat for the best deal. People can visit the auto auctions whether they are dealers who want to make a profit or regular people who just want to grab a bargain. Here is some useful information prior to participating in vehicle auctions. Once an interested person digests this data, he or she can go out there and get a great vehicle.
Who Can Buy at Auto Auctions?
Depending on the type of auction centre, anyone who has properly registered to purchase can buy from the auto auction. Dealers who intend to resell will be required to have a current dealer’s licence to legally purchase under the states resale regulations. Private buyers will be required to show valid identification for vehicle registration transfer.
Qualifications and Registration Process for Consumers
To qualify to participate in the auctioning process, one must first register with all the auction centres requirements. Some companies may ask for a deposit prior to the auction commencing, this will be refundable if nothing is purchased. The individual can either register as a dealer or a member of the public. The required forms are available either online or in the foyer. The applicant must answer questions about their name, address, contact details, date of birth and so forth.
The person will have to be able to present a form of identification such as a driver’s licence. Passports and regular identification cards may be acceptable, as well. After the registration is completed, you will receive a buyer number to use on the day of the auction. The applicant will need to sign and accept the auction centres terms and conditions before receiving your bidding number.
Qualification and Registration Process for Dealers
Private buyers have the same process that motor dealers have for the most part. The main difference is that they also have to provide their current dealer’s licence details at the time of application. Motor dealers may request a 7 to 30 day account, assuming the auction centre allows accounts. Depending on the auction centre, they may request for trade references, and, or a time period pass with purchases made before approving the account application.
The auction will sometimes offer a “buy it now” price and allow interested parties to buy the vehicles outright prior to running through the auction. Otherwise, such people will have to bid against other people who are interested in the same vehicle. If reserve is not met, the auction house may refer the price to the seller, either to accept the highest bid, or present a second chance offer to the highest bidder. Auction buyers have certain rights of protection when they buy cars from auctions. They are entitled to ask for a refund through the Australian Consumer Law if the vehicle is found to be stolen, major issues or has mislead the buyer about the car in some way. The consumer must try to resolve the dispute with the seller rather than the auction site. Consumer laws may be limited in traditional auctions.
Local auctions are a safe place for people to grab vehicles that they want for a discounted price. They are open to everyone who qualifies, and the process is easier than it sounds. If the thought of bidding for a bargain seems appealing, you can visit your local auction centre, and you may just gain access to an amazing vehicle for a fraction of the price.