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Buying a used car at an auction is a great option now. It offers competitive prices, a wider range of vehicles, and a much simpler auction process.
However, a common concern for auction participants is the source of the used cars. Bidders naturally want to know where the vehicles come from to ensure they are not purchasing cars with unclear histories.
One of the most trusted auction houses regularly holding used car auctions is IBID, a subsidiary of PT Serasi Autoraya (SERA). The used cars auctioned at IBID come from a variety of sources and meet specific standards and qualifications.
See also: Auction Terms You Need to Know About
The first source is individuals who consign their used cars to IBID for auction, which can include passenger cars as well as commercial vehicles.
Many used car dealers consign their vehicles to IBID to minimize losses from excess inventory. This method also helps maintain inventory turnover.
Dealers prefer auctions because they offer faster sales. In fact, the buyers are often fleet customers or companies that purchase in bulk.
Besides individuals, used cars at IBID auctions come from financing companies and banks. These vehicles are often repossessed from borrowers who fail to repay their loans.
The next source is car rental companies. Typically, reputable rental companies replace their fleet with newer models.
See also: IBID Logistics: Delivering the Car You Win at Auction
They usually do that to attract customers. Vehicles that have reached the end of their rental life are then consigned to IBID for auction.
Similar to rental companies, logistics companies often dispose of their operational vehicles when the vehicles reach the end of their service life.
This helps avoid the rising costs of maintaining older vehicles, including service, repairs, and component replacements, which can become a significant financial burden.
Insurance companies sell vehicles covered by their insurance policies to boost their profit. Usually, these vehicles are damaged, but some parts may still be usable and in decent condition.
See also: Here’s How You Consign Company Cars at IBID
You can join online auctions and use the live auction feature on the IBID app. Download the app from the Play Store or App Store. Experience the ease of participating in auctions directly from your phone.
For more information, visit www.ibid.astra.co.id and follow @ibid_balailelangserasi on Instagram.