Where and how confiscated cars are sold

Where and how confiscated cars are sold

Confiscated cars are vehicles that have been seized from owners for non-payment of debts by various financial institutions through charges. If the bank makes an agreement with the debtor and the vehicle is voluntarily repossessed, then depending on the decision between the parties, the sale can be handled by either the body or the perpetrator of the event himself. But if this obligation falls on the shoulders of the former owner, the bank monitors his every move, since the property belongs directly to him, which is confirmed, as a rule, the seizure pact. If the debtor evades payment in this way, the plaintiff proceeds to strict measures. The companies go to court, and if within 10 days the defendant has not filed an appeal, then after the meeting the bailiffs already decide the fate of the vehicle.

Forfeited car sales

There are several ways to sell such cars, let’s look at everything in more detail in our article.

Sale of confiscated cars

People are actively interested in seized cars because of their low cost and full technical inspection with the conclusion. So how does one go about buying a repossessed car? To begin with, the sale of impounded cars are engaged in various structures: the auction, the bank, the online store.

Stages of the deal through the bank

  1. Auction. Bailiffs take the car to auction after two months. This option for finding a car is notable in that you are shown a huge number of models. The procedure for participation is as follows:
  • you fill out a participation slip;
  • Throw down a deposit, the amount of which is due to the declared price of the car;
  • Pay the remaining amount, if you decide to buy.

Within 10 days the founders will draw up a certificate confirming the act of sale, and you will be given all the papers on the car and the keys. You will be required to have your car registered by the State Traffic Police.

  1. Bank. Often the banks themselves are the organizers of the auction, due to the terms of the verdict. What makes this auction different is that you can pay cash or take a loan (17-20%) from the bank. You just have to write an application to participate. The great thing about this is that you don’t have to wait, the buyer has the right to drive away in their new four-wheeled friend immediately after payment.
  2. Online Store. Sometimes banks turn to dealers and other firms that distribute model information for a percentage of the sale. The benefit of this method is primarily speed. Add to this that if you have preferred a firm that works with the bank, then all the papers and documents that you have to sign in the future will be in order. But among such entities often there are crooks. Therefore, take the time to study their certificates.
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Read also: Selling your own car in installments: how to do it correctly and without damage to yourself

Selling a car online

Whichever way you decide to go, before the sale of all cars are subjected to a complete inspection, so the technical condition of the acquired iron horse can be completely calm.

Pros and cons of buying repossessed cars

Undoubtedly, the most important factor determining this choice is the low price. Who wouldn’t dream of buying a good quality vehicle at less than market price? This is reinforced by the relatively good condition of the vehicle, which, in addition, will be checked by specialists. If you also make the deal through the bank, you will see two more positive aspects:

  • The contract will be drawn up in accordance with the law;
  • You will have the opportunity to obtain a loan from the bank of the curator.

The disadvantages of such an investment should not be overlooked:

  • If the sale of the car is engaged in the debtor, he can put above the stated, in order to appropriate the remainder of the profits and remain in an advantageous position;
  • In this business, the number of cheaters prevails, profiting from falsification of certificates of technical condition of your future iron friend and not only;
  • in connection with the previous point, the client will have to “probe” each of the participants in the transaction and keep track of all the protocols they have signed;
  • mandatory payment of VAT, commissions;
  • peculiarities of any bidding (for example, at the end of disputes the cost of the slot may jump much higher than the initial one).

Car seizure by court bailiffs

How to protect yourself when buying a confiscated car

As we have already voiced before, to protect yourself, take the purchase seriously and painstakingly read every sheet signed by all interested parties. In addition, you should have the following information:

  1. Find out under what conditions the car was purchased in the salon (whether the debtor took a loan). If necessary, it is better to ask for the seller’s credit history.
  2. Of course, look at the full documentation package, confirming the originality of the brand.
  3. Make a photocopy of the securities.
  4. Notarize the agreement of sale and purchase and condition it at the bank.
  5. The Federal Bailiff Service of the Russian Federation. By logging on to the official site of this service, you will find out the information you need about the welfare of the person selling you the vehicle. To do this, you will need:
  • Full name of the owner of the car;
  • date of birth;
  • The region of his residence.
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Buying a confiscated car

A way out of the situation can also be a trip to the traffic police to get information about the former owner.

During all stages of the transaction, the Federal Property Management Agency is responsible for the preservation of the property, as any bank is subject to the law. After the court, the vehicles go to the Federal Agency for State Property Management, where they are sold.

Where to buy confiscated cars in Russia

In our country there is a wide list of sites for this purpose. Forfeited cars are mostly sold at auctions and on official online services, which contain all the offers from banks, creating an excellent search base. You may also come across ads in print media.

In conclusion, we want to point out that there are more than just cars among impounded cars. You can make sure of this by looking through several offers. Moreover, if you choose your future friend wisely, you can find a new model with low mileage at a modest price. We hope the algorithm we have developed will help you in a safe car search.

How to buy a confiscated car

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The sale of confiscated property in Russia today is a widespread phenomenon. It is quite profitable both for debtors, as it allows them to quickly get rid of the burden of loans, and for financial institutions wishing to recover the money lent to the population. One of the most common lots on the confiscation market are vehicles.

How to buy a repossessed car


How advantageous is the purchase of confiscated cars

First of all – low prices. The cost of confiscated cars is about 20 percent lower than the average market price. Other advantages of buying confiscated vehicles include:

    • low mileage (quite often such cars, especially if they were bought on credit, have not yet expired warranty from the manufacturer);
    • absence of serious technical defects (since the car has been exploited for some time, the factory defect would have already shown itself);
    • Low probability to run into swindlers (if the purchase is done through a bank or bailiff service – they are engaged in the paperwork of the transaction, so for its purity there is no doubt).

    Where to buy confiscated car

    There are several options for acquiring seized from debtors motor vehicles. This can be done through:

    • Bank;
    • FSSP;
    • On specialized sites on the Internet.

    Let us consider each of these methods in more detail.

    How to buy a car through bailiffs

    How to buy a car through bailiffs

    An impounded car can be sold at an auction or through one of the authorized companies. After the confiscation procedure, the car is placed in a specialized parking lot. An appraiser is invited to determine the value of the vehicle. Information about future auctions is placed in the media. Also the date of the auction can be found on the Internet at the official website of the Federal Bailiff Service. Bailiffs are obliged to place such information at least one month before the day of the auction. Everyone has the right to participate in them. To do this, you must:

    • apply to the FSSP;
    • Present a passport or other identity document;
    • Make an initial payment – 5 percent of the original value of the car, as determined by a specialist evaluator (if you do not win the auction, you must return the amount within 3 days).

    The winner of the auction is the one who will offer the highest price for the car seized by bailiffs during the auction. It is worth bearing in mind that the remainder of the funds must be paid within 5 days of the auction. Otherwise the deal will be annulled. The money deposited as a pledge will not be returned to a hapless buyer, and the car would return to the auction 14 days later.

    Bailiffs have 2 months for confiscated car sale. And if within 30 days the car has not found a new owner, its cost is automatically reduced by half. That is why you can buy practically a new car at an auction for half price, given a certain amount of luck.

    How to buy a car confiscated by the bank

    The procedure for purchasing a car seized from a debtor from a bank is similar to purchasing through bailiffs. Information about the sale of confiscated vehicles can be found on the official websites of credit institutions or on specialized Internet sites, such as konfiskator.com (only here there is more than 500 billion rubles worth of different property). So if you want, you can always buy a confiscated car according to your financial capabilities. The price range is quite large: from several hundred thousand to several million rubles.

    How to buy a repossessed car

    One of the main advantages of buying confiscated cars through the bank is the possibility to issue a loan. Financial institutions willingly offer such services at 15-20% per annum. You can not worry about the legal clearance of such a transaction – the bank will give you all the necessary documents for the car. If there are any doubts about the condition of the car, the credit organizations without problems provide it for inspection in the service center. You can also order a test-drive of the car.

    Disadvantages of buying confiscated cars

    One of the main dangers of buying such motor vehicles lies in the fact that sometimes the seizure procedure is conducted incorrectly. In this case, the former owner has the right to challenge the illegal seizure in court. There are several reasons for filing such lawsuits. In particular, the court will side with the former owner if:

    • the seizure of the vehicle occurred pursuant to a preliminary, and not a final, court order;
    • The interests of a third party (such as the debtor’s spouse) are affected;
    • If the vehicle is put up for auction at too low a price that does not match its actual condition.

    Money for the purchase, of course, will be returned, but the proceedings will take a long time. So before you buy an impounded car, it is important to carefully check all the documentation and the technical condition of the vehicle.

    A tip of the road

    Buying a used car directly from its owner, you risk to run into a crook who will not warn you that the car is in pledge and under arrest. You can read about the troubles that such purchase can bring to the new owner in a separate article “What is the threat of buying a car in police custody?

    If you want to avoid being in an unpleasant situation, use the checking service AutoCode. To get detailed information about a vehicle, its former owners, restrictions from bailiffs, and other useful information, you need to enter the registration number of the car in a special search form.

    If you are a professional car dealer, use “Autocode Pro” unlimited car checking service. “Avtokod Pro allows you to quickly check a large number of vehicles, add comments to reports, create your own lists of liquid vehicles, quickly compare options, and store data on cars in an organized form.

    In order to obtain accurate data on the technical state of your car, order the optional on-site check-up of Autocode. It allows you to find out all the details of the car, even if you are in another city. The wizard will do the inspection and send you a report with photos.

    We also advise you to check the owner of the car through a special service. The checkup will show if the seller has any legal problems, if his passport is valid, and if there are any debts and enforcement proceedings. If you discover any serious problems, it is better to refuse to close the deal. View a sample report

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