Auto Auctions

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