What does Reported at auto auction mean?
This means the vehicle was registered for sale at a wholesale auto auction for dealers only. This is a common way for dealers and manufacturers to sell used and fleet vehicles to other dealers.
Is it bad if a car was sold at auction?
While some low-end auctions sell troubled cars, most cars at auctions are high-quality used cars. They’re also likely to get the cars repaired and cleaned up so they can sell them for more. However, it would be best if you still were careful when buying a car from a dealer that came from an auction.
What does red light mean at auction?
-IS
RED LIGHT – “AS-IS” – Signals that the vehicle is not covered by the auction rules for arbitration. Vehicles sold under the Red Light cannot be arbitrated for any reason except frame, odometer, flood, or title discrepancy.
How does an auto auction work?
How Do Auto Auctions Work? Most everyone understands the basics of how an auction works — participants bid on an item until one bidder is left. Many auto auctions are public, which means anyone can come to the event or place a bid online. These are advertised ahead of time, typically with a list of available vehicles.
How do I know if my car was sold at auction?
How to Find Out What a Car Sold for at an Auction
- Check the auction house’s website. Many auction houses list the selling price of vehicles from previous auctions.
- Call the auction that handled the sale of the vehicle. Most auction houses will tell you the amount the vehicle sold for. Sign up to receive newsletters.
What is green light car?
Yellow or amber lights often indicate a lower-grade hazard or warning, such as the activation of the traction control system when driving on slippery roads. Green and blue lights simply indicate that a feature is engaged, such as the headlights or cruise control.
What does blue light mean at auction?
– Blue Light – “Title Attached/Title Unavailable/Title Absent”: This light is used to announce that the title is not present at the time of the sale. For Auction rules regarding titles please refer to the Title Arbitration Policy section. If “title attached/ unavailable/absent” is not announced, a vehicle could be …
Can I see how much a car sold for at auction?
Most auction houses will tell you the amount the vehicle sold for. Many auctions will send you a monthly newsletter stating the selling price of vehicles from previous auctions.