If you are looking for a new vehicle, whether it be a car or a motorcycle, there is an option that may interest you a lot. I am talking about Car auction from Banco Santander.
The Santander auction brings together cars that the bank recovered from financing that went into default.
In general, these are cars and motorcycles that are in good condition and in many cases the cars have up-to-date documents.
At the auctions organized by the bank, you can find luxury cars available for bids. In one of the recent auctions organized by the bank, for example, a 2010 Jaguar XF V8 was available for bids with bids starting at R$ 77,000.
This value represents a very large difference in relation to the Fipe table. This same Jaguar model, for example, costs around R$ 124,000 in the Fipe table.
Another example is that in this same auction a 2011 BMW X1, which costs around R$ 53,000, had initial bids starting at R$ 21,000.
In both cases we are talking about practically 60% less than the value of the car. It is a discount that you can find elsewhere. This is the very advantageous opportunity that Santander Bank vehicle auction can offer to you.
How to participate in the Banco Santander car auction
There are plenty of alternatives. But because of the pandemic, most auctions are taking place online.
One of Banco Santander's partner auction houses is Sato Leilões. And to have access to the auctions you must visit the website.
What to watch out for at auction
If you are interested in participating in the Santander Auction, pay attention to these guidelines:
- Search for Information
Haste can be a great enemy and can lead to losses. Therefore, before bidding at an auction, do your homework and conduct thorough research on the vehicle you are interested in.
Search for the car on the auction market itself. Try to find out about the debts and the condition of the vehicle.
- Payment methods
Another very important element that you need to be aware of is the payment methods accepted by the auction.
This is very important, because once you have won the vehicle, in most auctions, you can no longer back out of the purchase.
In some cases they allow you to cancel the purchase, but only upon payment of a fine, which can vary from 20% to 30% of the value of your auction.
- See the vehicle in person
Although most auctions are online due to the Covid-19 pandemic, many auction houses are open for visits on special days with a reduced number of visitors.
This visit is essential so that you can personally assess the condition of the vehicle. Making an assessment based solely on the photos published on the website could lead you to make a big mistake.
So the tip is, nothing replaces an in-person visit if your goal is to buy a car in good condition.