I’ve noticed for public auto auctions they say there is a non-refundable deposit you need to make. This is even if you don’t buy a car. Is there anyway to avoid these fees? Do some places not have them?
5 Responses
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gwhillikers2000 Says:
Check on govt auctions. I think private auctions use deposits to keep out lookers in favor of buyers. And a seller can always control the method of sale.
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frontstca Says:
An aution is like a contract you buy you bought it so if you do not complete the sale they have to sell it again and you lose your deposit…
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Grand pa Says:
it may be to stop foolish bidders. I have been told they plant bidders to drive up the bids Buyer Beware
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JetDoc Says:
It costs money to set up and run an auction, and the auction company normally gets a percentage of the sale price of the car, but if the car doesn’t sell, then the auction company gets nothing.
The non-refundable deposit is just a way for the auction company to cover their expenses for operating the sale.
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UCANTCME Says:
They all have them and there is no way around them, buyer beware at auctions.
