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The buyer must submit: A completed Application for Title or Registration (REG 343) form. The cost information must include the labor cost, even if the labor was provided or done by the applicant. The vehicle license fee (VLF) class is based on the cost shown. A REG 31 form.

Sometimes the car is a trade-in. Some cars at auction are from rental fleets, retired because of age or high mileage. Other cars at auction are repossessed by a bank because of missed payments, for example, and sold to the auction.

Most dealerships have a firm policy, typically 60-90 days. If a pre owned vehicle sits there for that long and doesnt sell, it gets sent to auction. Correct, not always a bad reason. There are auctions that cater to the independent dealers and public that are looking for the cheap stuff.

No. You get what you pay for. Many, many cars at auction are cars that broke down before the loan was paid off, so people traded them in to dealers who then turned around and sent it to auction because the car is so broken that they'd never turn a profit by fixing it and selling it on their lot.

Commission: Auctioneers often charge a commission, representing a percentage of the auction's gross sales. A 10% to 15% commission is typical for this profession. Depending on the deal, they may also receive bonuses.

Once an item is placed for sale, the auctioneer will start at a relatively low price to attract a large number of bidders. The price increases each time someone makes a new, higher bid until finally, no other bidders are willing to offer more than the most recent bid, and the highest bidder takes the item.