Tips on Buying Cars/get deposit back

Advertisement


Question
Hi steve

I went to a certain car auction that I thought would be a good place to purchase a vehicle. The auction allowed you to return a vehicle within 24hrs if the transmission or engine was bad. There was a $300 deposit that you supposedly get back if you dont purchase a car. With that said, I went to the auction an 1 away and got there an 1hr late after they started. I seen a certain car that I like on the Internet like a week before. I seen the car when I got there, wasnt expecting that, even though I emailed the website about my interest in the car. I got an Email saying that can is still available, come check it out.  I thought it would be gone by then. I seen it there when I got there and was excited. The car came up for bid shortly after my arrival, so I bidded. Won the bid, for 6000. Oh and the car is a 2002 bmw 745i,  with 180000 miles which I didn't know about either.  When I checked out the car and notice the radio didn't work I wasnt sure if the speakers worked as well. Wires were coming through the seat in the trunk.  The Weather strips on the rear windshield  was bad and the ceiling looked like there was water damage.  So I told them I didnt want it before I paid for it. I was told I couldn't have my deposit back. Early before that I did that a I thought about when I first started bidding on the car I noticed these 2 guys that walk in and started bidded against me and left after they ran the price up high close to what I saw the asking price for the vehicle on the Internet for 6500. The two guys left when they got the bid close to that $6500 price.  When I won the bid for 6000, they told me they couldn't get in touch with whoever own the car, whether it was a dealer or private owner not sure. They were asking $6500. I told them no and what was the point of the auction. And then I realized that the car had been there since I first seen it online and that it may be something wrong with it,  which is what prompt me to check it out better and learning of the different issue that I mention earlier,  including miles and decided I didn't want it. They said I could not have my deposit back because I won the bid. Plus they wanted all these extra cost on top of that price. Is there a way I could get my $300 back since I didn't buy the car.

Answer
All auctions have a set of rules. The reliable ones let you go to arbitration if something was not disclosed. If there were obvious problems and they were not disclosed you should be able to talk to who runs this auction and possibly get your money back. You have to be very careful with auctions because it is an as is purchase. Make a little noise, but legally, and you may be able to get the money back. Let me know what happens. Good Luck!

STEVE

Tips on Buying Cars

All Answers


Answers by Expert:


Ask Experts

Volunteer


Steve

Expertise

Have sold pre-owned autos for many years, can assist in picking vehicle, financing tips and approximating payments and costs.

Experience

have been a sales manager as well as sold pre-owned vehicles.

Education/Credentials
Bachelor of Science degree

©2016 About.com. All rights reserved.