| An auto auction is quite simply an auction | | | | use and the condition is as varied as the |
| for vehicles, usually cars.The auction | | | | amount of different vehicles used by a large |
| process takes place as normal, with the lot | | | | corporation. Repossessed vehicles have been |
| being displayed, and bidders contesting each | | | | recalled by companies either voluntarily in |
| other, with an auctioneer presiding. Usually | | | | the case of defects or product changes or |
| an auto auction takes place between car | | | | involuntary in the case of misuse.Auto |
| dealerships and is not open to the general | | | | auctions allow a dealer to get rid of old |
| public.Auto auctions often deal with | | | | stock that would not sell to the public. They |
| off-lease, off-rental, company cars, or | | | | keep the variety of vehicles moving and also |
| repossessed vehicles. Off-lease means | | | | allow dealers to assess the condition of the |
| vehicles returned to the financial | | | | market by looking at the quality of cars and |
| institution at the end of a lease term, and | | | | the actions of other dealers. The prices of |
| are usually only found at auctions. | | | | cars at auctions are not low enough to make |
| Off-rental refers to the practice of rental | | | | killer profits but do allow the dealers more |
| companies to update their fleets of cars | | | | freedom. One problem with auctions however is |
| every years, meaning that they have a stock | | | | that the vehicles cannot be inspected by |
| of well kept cars of a recent model and only | | | | mechanics or test driven until sale is |
| a short usage, which need to go. Car | | | | complete. Dealers are legally required to |
| dealerships will likely want these cheaper | | | | announce faults or problems before auction |
| cars to fill up their stocks. Company cars | | | | but still sometimes discrepancies lead to |
| and larger vehicles are a similar affair, | | | | unpleasantness. On the whole, however, |
| being constantly updated, but the amount of | | | | auction is a very useful tool to a dealer. |