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Buying a Car from Auction

Buying a Car from Auction

The number of participants in the tenders held by the enforcement offices for the confiscated vehicles is increasing day by day. In these auctions, new cars can be purchased at more affordable prices than in the market. Announcements of vehicles that have been confiscated and are waiting in the parking lot draw attention on the web pages, in the newspapers or in the newspapers. Except for the dealers who participate in the tender and buy and sell the cars they buy, anyone who wishes has the right to participate in the tender. In the continuation of my article, I will talk about the conditions required to get a vehicle from the execution.

Who Can Participate?

The person can participate in the tender himself or through someone else’s representative. Anyone over the age of 18 has the right to participate in the tender voluntarily, and this is the most important thing that must be fulfilled for participation. In order to be able to buy and sell cars in the tender, the person participating must be a Turkish citizen and must bring their identity document with them when applying.

Margin Fee and Other Transactions

You have to pay the security fee, which shows that you can meet the value of the vehicle you want to buy with the bank or in cash. The security deposit varies from tender to tender and will be refunded if you fail to win the tender. In addition to the deposit fee, the participation form must be filled and submitted.

Matters to be Considered Before Participating in the Tender

The tenders may vary according to the directorates in the provinces. Before participating in the tender, you should follow the tender details of the province from the announcements made by the enforcement office. In addition, you must record the file number of the tender you are participating in and complete the necessary documents for the conditions completely and completely. If the vehicle is not sold in the first auction, 2 auctions can be held with an interval of 5 days. As always, in these cases, you should follow the announcements of the enforcement offices.

Vehicle Must Be Checked Before Bid Starts

It is important that you carefully read the report prepared by the expert, in which all information about the car you participated in the tender is written. In the parking lot and warehouses, it should be checked beforehand whether the vehicle has damage records and debts. It is also necessary to check the insurance record. These reviews are very important to avoid extra costs after the vehicle is purchased.

Tender Termination Condition

The prices of the vehicles in the tender are generally below 50%. If the vehicle goes out to tender for the second time, the rate may drop to 40%. Bids are given on the “e-sales” website of the ministry of justice, provided that they are 1 day before the sale. If the tender does not go well or there is irregularity in the tender, you have the right to file a lawsuit for the cancellation of the tender within 7 days. If the tender has progressed in its normal course, you must first deposit the price of the vehicle you purchased to the enforcement office where the vehicle is registered within 10 days after the vehicle is purchased.

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