Auctioned Cars

[rAjOaNa]

Anyone has got an auctioned car before or know how this car auctioning works?

[GuiNNeSS]

Anyone has got an auctioned car before or know how this car auctioning works?

 

u mean sgcarmart those auction vehicle is it?

 

you need to go turf city there, got their agent i think is HHL or HLL i forgot le. See and inspect the vehicle, mostly can't test drive. Ask the salesman if they already have the key becoz most of them are kena tow back.

 

You can start the vehicle and check for electrical stuff if they have the key, if you're overall contented with the vehicle, approach the salesman for the form to submit your bid by fax.

 

Btw the salesman will not follow you around, and make sure you have enough knownledge on cars because you'll not be able to tow it to workshop for inspection. And yes, they can reject your bid if lowball.

 

Gd luck, don't make decision on the spot. The previous time i went there for steamboat, i happen to reach there early and took a walk and see on these auction vehicle. There was a couple viewing this particular wrx, so i also went to kaypoh becoz i driving the same brand. When they see me flipping the car high and low, i saw them quickly wrote the bid form and went in to the office. But, i notice the vehicle was a accident unit and i dunno why the couple still wan to buy even without starting it.

[cougar]

Usually vehicles auction are jialat cases, owners dun wan or no money for instalment. Finance companies either sell to dealers, if dealers dun wan, they boh pian auction, what do u think? If u notice, high end vehicles dun appear much in auctions, only the low end ones, 2L and below type, economical vehicles. Good vehicles, finance co. can easily sell to dealers to recover their costs liao.

[jB]

If you're lucky, you might strike a good deal ;]

[GuiNNeSS]

bid $1

[rAjOaNa]

thanks all for yar input. I have been there recently to see an i30 recently but decided not to bid for it. No key. CAnnot hear the engine n see if all other devices are working properly. Anyway more than wat u can see there, are there any hidden costs? Like aftr bidding if they haven't recovered their costs might ask u to pay towing charges or other costs from the previous owner?

[Supertoad76]

I went to check those auction vehicle once, saw a good number which are damage by the towing companies. It is not advisable to get auction vehicles as a good number do not have keys, to make keys or aquire new keys is not cheap.

 

Plus you have to content with a good number of dealer for those which are good.

[rAjOaNa]

I went to check those auction vehicle once, saw a good number which are damage by the towing companies. It is not advisable to get auction vehicles as a good number do not have keys, to make keys or aquire new keys is not cheap.

 

Plus you have to content with a good number of dealer for those which are good.

 

 

bro wat kind of damage u tokking abt? during towing or something else done intentionally?

[slutgarden]

even abandoned vehicles by expressways, towed back to tp, then the driver doesnt claim till like 3 months or so, the car will be auctioned..

 

any cars that got into accident, and the owner doesn't want to claim the car back, the car will be auctioned..

 

most of the times, cars that gets auctioned have gone through a rather unpleasant journey with the owners.

 

well but there are quite a few rare gems available.. it's just about the perfect timing till you get your hands on one..

[NoLicense2]

wa. must inspect clearly before making decision than, just curious am i able to bid below rebate value?

[rAjOaNa]

wa. must inspect clearly before making decision than, just curious am i able to bid below rebate value?

 

not too sure abt tht. But from my knowledge, if its too low for the auction coy, then can reject.

[Tyrian]

not too sure abt tht. But from my knowledge, if its too low for the auction coy, then can reject.

 

if there is no reserved price, they are legally bound to sell u the car even though you are the highest bidder of $1.

[rAjOaNa]

if there is no reserved price, they are legally bound to sell u the car even though you are the highest bidder of $1.

 

sure or not? Cos under their terms n condition or something liek tht they mention they reserve the right to reject yar bid. (of cos didn't mention they will reject cos its low but most likely tht wld be the reason.)

[GuiNNeSS]

They do reserve the right to reject your bid, and other terms and condition if u read the contract properly.

 

For the hidden cost wise, not that much i sort of known of but if u can't start the vehicle on viewing? how you know it can move when u bought it?

 

2nd - Rumors i heard of from other forum: A guy bought auction vehicle without key during viewing and in his knowledge he know the vehicle does not comes with key due to previous owner has yet to return. So the Guy who bought actually has 2 choice: 1 tow back to his own carpark & wait for key, 2 pay the space rental at the turf city till he get the key.

 

Either way he's screwed for sure

[rAjOaNa]

They do reserve the right to reject your bid, and other terms and condition if u read the contract properly.

 

For the hidden cost wise, not that much i sort of known of but if u can't start the vehicle on viewing? how you know it can move when u bought it?

 

2nd - Rumors i heard of from other forum: A guy bought auction vehicle without key during viewing and in his knowledge he know the vehicle does not comes with key due to previous owner has yet to return. So the Guy who bought actually has 2 choice: 1 tow back to his own carpark & wait for key, 2 pay the space rental at the turf city till he get the key.

 

Either way he's screwed for sure

 

Ya bro, most cars there without keys. So the best option is to tow to the workshop n get tht sorted out, but then again i wld rather go for those which have at least 1 key, At least u know wat u r spending on irregardless the amt u r spending.

[Tyrian]

sure or not? Cos under their terms n condition or something liek tht they mention they reserve the right to reject yar bid. (of cos didn't mention they will reject cos its low but most likely tht wld be the reason.)

 

if under the terms and conditions did state this, then too bad. they can reject your bid as long as they are not making a profit out of it.

 

under dictionary.com, auction means: a publicly held sale at which property or goods are sold to the highest bidder.

 

since the auction cars being auction are subjected to t&c, do u call it a true auction or a qualified auction?

[Tyrian]

Ya bro, most cars there without keys. So the best option is to tow to the workshop n get tht sorted out, but then again i wld rather go for those which have at least 1 key, At least u know wat u r spending on irregardless the amt u r spending.

 

those without keys, my advise is better don't get it

 

who knows one day the previous owner who still hold on to the key, decides to start the engine and run away?

 

even those with keys, it is equally dangerous.

 

all auction cars are being auctioned for a reason. most of them is failure to pay up on time. do u think when the tow truck tows their car away will ask for their key?

[NoLicense2]

those without keys, my advise is better don't get it

 

who knows one day the previous owner who still hold on to the key, decides to start the engine and run away?

 

even those with keys, it is equally dangerous.

 

all auction cars are being auctioned for a reason. most of them is failure to pay up on time. do u think when the tow truck tows their car away will ask for their key?

 

 

Maybe some parts are broke....

[Gerald]

I tot if your car still under instalment, the finance company should have a set of your keys right?

[GuiNNeSS]

I tot if your car still under instalment, the finance company should have a set of your keys right?

 

By right = yes, by left they prefer to let u wait becoz if they give you 1 then they got 0 and they will not duplicate a 2nd one

[SPTourer]

All cars have a minimum paper value rebate upon dereg at any time. I think the finance house will rather dereg the car , sue the owner than selling at $1.

[Lmodel]

Anyone has got an auctioned car before or know how this car auctioning works?

 

1. Auctioned cars are usually recovered from the owner who has defaulted on payments for over 2 to 3 months.

 

2. The Finance company may or may not have the keys to the car.

 

3. The Finance company is not liable for any problems to the car after the completion of the sale.

 

4. The bidder will have to arrange for full payment upon 7 days (IIRC) of notification as the successful bidder. Take note that there shall be no negotiation for a later date, to secure a loan first.

 

5. The successful bidder shall be liable for any outstanding road taxes owed to the authority, prior to the transfer (in the event road tax has been defaulted).

[kk88]

1. Auctioned cars are usually recovered from the owner who has defaulted on payments for over 2 to 3 months.

 

2. The Finance company may or may not have the keys to the car.

 

3. The Finance company is not liable for any problems to the car after the completion of the sale.

 

4. The bidder will have to arrange for full payment upon 7 days (IIRC) of notification as the successful bidder. Take note that there shall be no negotiation for a later date, to secure a loan first.

 

5. The successful bidder shall be liable for any outstanding road taxes owed to the authority, prior to the transfer (in the event road tax has been defaulted).

 

Is it a close or open bidding?

Do i need to pay a deposit after i succeded in the bid?

[Lmodel]

It is an open bidding system but I only see them updating the systems at times. Either or, the bids come in only till the last minute.

 

No deposit required as they are likely to inform the highest bidder within the next few days.

 

Get ready the cash though.

[NoLicense2]

It is an open bidding system but I only see them updating the systems at times. Either or, the bids come in only till the last minute.

 

No deposit required as they are likely to inform the highest bidder within the next few days.

 

Get ready the cash though.

 

Do u work for any company that does auction vehicle?