How to buy cars at repossessed car auctions

In a world of buying a new car, second-hand or simply browsing and fantasizing, there is a small pocket of possibilities not so explored and not so contemplated. We talk about the repossessed car auctions by creditors, entities or the Spanish Treasury itself. Another possibility that does not follow any pattern and perhaps this is why there are more and more followers of them.

It is a path that has been there for a long time and that is often not exploited enough. Either from embargoes of the Treasury, Social Security, the administration of Justice or even the town councils themselves; there is a great variety. Throughout our territory we have an amalgamation of vehicles (also vans and motorcycles) that are very interesting and, if you are not in a hurry, it is a matter of waiting and bidding.

What are repossessed car auctions like?

First of all we have to know that the vehicle in question delivered as is. Without any warranty and with a small certificate of the vehicle’s condition. We will know the engine, variant and license plate and with this information we will have to use them to decide whether to buy or not. In some cases the lots can be visited but do not touch since they are legally sealed. It all depends on the situation of the vehicle and the means by which it is auctioned.

It must be said that there is private auctions and others that are public. The first are by companies that are dedicated to this and that get those vehicles repossessed and then put them up for sale. They tend to check the cars a little more and there is greater transparency in terms of information. The public They are the ones organized by the State, they have a greater number of seized cars, but that also means that they are not inspected and that they are sold as is. As for the system, everything is resolved online, from the bid to the corresponding deposit.

How to buy a repossessed car

You have to look at private auctions, which usually come out in limited quantities. Although to be on the safe side you can opt for the BOE auction website. Is he state portal that brings together all auctions and allows you to filter by province or by type of auction. We are going to analyze in depth this second type that is often unknown to the user and that can bring interesting opportunities to users.

The initial requirements to buy a repossessed car would be the following:

1. Here, as in everything related to national bureaucracy, you will need your digital certificate or Cl@ve and register as a bidder.
2. In the search engine on the main page we can filter by provinces.
3. in the search engine advancedApart from vehicles, we can see properties and select the origin of the auctions (judicial, notarial, tax, etc.) and see what is scheduled or ongoing in our province.
4. Once inside we can do the bid and the deposit, so before bidding we will have to have the amount of money since confirmed bids cannot be withdrawn or modified. Here you come to play and win.
5. If you have doubts You can always consult the FAQ’s section of the website to resolve the details before bidding.

What can you find

Out of curiosity, we have been checking some batches in recent times and found vehicles of all types. In fact, there are some for professionals looking for something affordable, others for everyday use, and even options with a certain level of luxury. Here are five proposals:

As you can see, the most varied lots since we have been able to find some classic cars in previous editions or legendary junk like a 50 cc Vespino for €60. Who knows what state they are in, but hey, a door opens to your restorative spirit. Not everything was going to be RM Sotheby’s auctions, right?

Advantages of repossessed cars

• Affordable prices and well below the average second-hand, it is possible to find bargains.
• Immediate availability at the end of the auction, eliminating the waits that we do see in other modalities.
• Very diverse options and all types of vehicles, from affordable cars, to sports cars, to motorcycles or trucks.

Disadvantages of repossessed cars

• You have to advance part of the money in the form of a deposit, which can be around 20% of the value.
• In this type of sales no type of guarantee is offered, not even for hidden defects, so the risk is high.
• They have not always been serviced and you can find cars that have faults.
• It is not common to be able to inspect the car thoroughly, so it is often bought blindly.
• You have to pay the car seizure, that is, assume the debt incurred by the previous owner.