How to buy a car at auction
Knowing how to buy a car is auctioning will allow you, among other things, to access luxury vehicles at a lower price than the market. In person or through the Internet, you will have the opportunity to offer a price to opt for the purchase of a car model that, otherwise, perhaps you could not afford because of its high cost. In .com we offer you some tips on how to buy a car at auction.Steps to follow:
In Spain, there is an official channel to buy a car in an online auction. It is about doing it through the route offered by the Ministry of Finance. To do this, you must access the following page of the electronic headquarters of this department of the Central Government:
Once inside, click where it says "Participate in auctions".
Now, you must choose a link or another depending on whether you have an electronic signature or not. If you still do not have it, you are interested in reading this article in which we explain how to obtain a digital certificate from the FNMT.
To make this explanation on how to buy a car at auction, we will do as if we did not have the digital signature, which will allow us to see the cars available at auction, however, to participate if we need to have the digital certificate. On the page where the link takes you, click on "Search for assets".
Now you have access to the search engine. In the fields of "Real Estate" and "Furniture" select the option of none, while in the "Vehicles" you must choose "Cars". In the type of procedure, choose "Auction". If you want to delimit a price, put the minimum and maximum, if not, leave these fields blank. Finally, click on "Search".
Then, you will see a list of vehicles at auction with their price, the date of the auction and a reference of it. Clicking on each of them, you can access to see photos, to know if the car you want to buy at auction has loads and other additional information.
When you know the car you want to buy in the online auction, what you have to do is go to the section of the auction page that allows you to create a deposit, that is, to contribute money. On this page you have all the options related to deposits:
You must provide personal information such as the DNI and also the financial institution, the account number and the amount of the deposit. At the end of the process, you will be assigned a reference number. On this page you can also withdraw your deposit.
Now on the page of the auction in which you want to participate, which you can access in the list mentioned in instruction number 5, you will have to prove yourself as a bidder, providing the reference number of the deposit and the rest of the data that you are asked for. . To prove yourself, you must have entered the page with your digital certificate.
Now to participate in the purchase of the car at auction, you have 2 options:
- Automatic bid: if you choose this option, you mark a maximum price and you will not have to do anything else. If nobody exceeds the amount, you can keep the car.
- Direct auction: in this case, you must connect the day and time of the auction and go bidding for the car.
If you win and you can buy the car at auction, you have a period of 15 days to present the rest of the money you have left to reach the price, discounting the deposit you already paid. You can pay online or at a collaborating financial institution.
In the event that you want to buy a car at auction in person, the procedure is similar. You have to provide a deposit, which you must make in a check made in favor of the Treasury. The information of the auctions can be obtained through the indicated way or in bulletins of official organisms. When you know the place and time of the auction, you must present yourself with your check and participate in person giving your offer.
In addition to this official channel, there are private companies that organize auctions and that have an operating procedure similar to the one explained in this article. Many of them also offer the possibility of participating in online auctions.