Buying a car is everyone’s dream. At one time or other, one wishes to buy a car, but still for many buying a car is not within their financial limits. Thus, leaving used cars only accessible way to the possession of the car. Japan used cars auction is a method of selling used cars and other vehicles based on the auction bidding system. The Japan used cars auction system provides high quality Japanese used cars at cheap prices, as these avoid the additional costs added by car dealers.
Auto Auction is a spot where used and new cars are sold at different prices. Every week around thousands of cars are being sold at auction halls. The auction is held in big halls with hundreds of tables with latest electronic devices and monitors with the images of cars being auctioned. In comparison with other types of auctions, it is quite evident that Japan auto auction events are much more popular. The reason that contributes towards their recognition is the reliability and superb quality of Japanese vehicles. These vehicles have magnificent built, finish and reliability. Along with these, buyers get the vehicle of their choice at very reasonable rates. Also, it avoids bargaining of customers with the salesman.
Buying a vehicle at an auction is not a difficult task, but only if one is familiar with the process. A lot of people still do not know how the process works. So, here are the steps that take to buy a used car at an auction to make people aware of the auction.
- Selecting an auctioneer
Japan used car auction takes place at various auction houses, where auctioneer auctions on behalf of buyers. The buyer should select an auction consultant and contact him regarding the car he is interested in buying. Importer should make sure that there are no restrictions on the import of the car in the country they are going to import.
- Security Deposit
Once the car to buy is decided, the importer should send a Telegraphic Transfer (TT) deposit to start the auction buying process. Without the deposit, the auctioneer cannot bid on any of the car on behalf of the importer. After auction deposits are received, an auction consultant will start locating your target car from auctions.
- Bidding Price
The buyer has to carefully make a bidding price to buy an auction car. Once car bidding price is determined, the auctioneer will bid on the car at the buyer's target price. Customers need to arrange the amount before the auction, in the account of their dealer who will be making the bid on their behalf.
- Auction result
If the buyer wins the bid, then the auctioneer will send the invoice to the buyer. The buyer has to send the remaining amount along with the agent's charges to the supplier's bank account. The buyer can even cancel the auction order before purchasing at the auction.
If the bid turns out to unsuccessful, then security deposit will be refunded to the importer or the payment will get allocated to another vehicle based on the customer’s request.
- Vehicle Shipment
Once all money is confirmed from buyer, supplier will ship the car to the buyer's port with the necessary documents.
- Export Certificate
- Bill of Lading
- Final Invoice
- Inspection certificate (if required)
Generally, wide range of vehicles are auctioned during March-April period as March 31, marks an ending for Japanese accounting year. There are large numbers of auction houses located all over Japan. These auto auctions are one of the best ways to find one’s favorite model of Japanese vehicle. Mainly used cars are sold at these auctions, but new cars are also auctioned.
Auction houses provide high quality Japanese used cars at cheap prices, as additional costs by dealers are not added. Buyers or Japan used car importers should decide a maximum price that they are willing to pay for the vehicle in the auction. It is important because dealer represent the customer at auto auction to place bid on customer’s behalf. This amount is refundable in case the bid doesn’t turn out to be successful or the dealer may ask for some another vehicle in the same range as per customer’s interest.
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