What Happens After You Won at a Used Car Auction?

Here Are the Things to Do After Winning at a Used Car Auction

The first thing to do after winning at a vehicle auction is to pay the remaining price offered. For many, this can be a complicated process. 

At Balai Lelang Serasi (IBID), auction winners can do it easily. Additionally, it can be done swiftly via the online system.

See also: Want to Win at a Car Auction Easily? Here Is How

Below are the steps to take to pay the remaining price offered at an auction by IBID:

1. Open IBID’s website or application, then go to your account and select transaction. Select the unit whose remaining price you want to pay and download the Auction Winner Confirmation (KPL) form. You can also find the KPL form in the confirmation email sent automatically to the auction winners.

2. Pay the remaining price offered as indicated on the KPL form via Mandiri or BCA Virtual Account (VA).

3. Winners must pay the remaining price offered no later than 5 (five) business days after the auction. The payment must be made quickly; otherwise, your winner status will be revoked, and you will be declared in default.

4. If you are in default, the retainer paid will be annulled and will not be refunded.

See also: Tips to Avoid Getting Scammed When Buying Used Cars at Auction House

Once you pay the auction price in full, you can pick up the car you won at an auction at the designated IBID branch by showing the payment receipt.

If you cannot pick up the car, you can use the courier service to deliver the car to your house. 

To do this, you must coordinate with the relevant IBID branch. Further, you must sign a statement saying that you hold IBID harmless if the car goes missing or is damaged during the delivery and that you will bear all the delivery costs.

During the pickup, IBID will give you all the car’s relevant letters or documentation. If such letters and documentations are not yet available, a notification regarding the availability of the same will be sent to you via SMS or email within 3–14 days.

See also: Weighing the Pros and Cons of Buying a Used Car at an Auction

At IBID, all post-auction processes can be followed easily. PT Balai Lelang Serasi has been conducting auctions under the brand name IBID.

IBID Offers Hassle-Free Auctions

In addition to being trustworthy, IBID offers another benefit: you may participate in live auctions via the IBID app, which is already available on the Google Play Store. Therefore, you can bid from anywhere without being present at the auction venue.

This way, you can participate in the auction easily and effectively using the Auto BID feature. Participants can place a more orderly and calculated bid.

With this feature, you refrain from overbidding as you have previously set the maximum bidding price and each bidding price. All you need to do is to monitor the auction process.

See also: Flash Auction: A Must-Try Car Auction Method

It is easy to use. Just activate Auto BID on the screen and enter the highest amount for each bid and the maximum amount you are willing to pay for the auctioned car.

This feature can be used for all IBID’s auctions, including Flash Auction. It can also be used via IBID’s website and application during auctions.

For those of you who did not know, IBID, the official auction house owned by PT Serasi Autoraya (SERA) was founded in 2007. Not only trustworthy, but IBID also offers the convenience of participating in live auctions through the IBID application available on the Play Store and App Store.

Thus, participants can submit bids from anywhere without coming to the location. It can even be accessed through the website and the IBID mobile application.