Guidance about buying Customs Auctioned Car

[pwuser157769949891]

Can anyone guide me about customs auction cars ?
Are they worth buying ?
How much they differ in price then regular models at the time of purchase and resale ?
They do not have documents similar to routine documents of japanese cars. Does that effect their registration process ?
If I buy a used but unregistered car how can it be verified from CPLC if it is clear or not? Will only the chasis and engine number be enough ?

[anon35615524]

Are they worth buying ?

I think NO.

How much they differ in price then regular models at the time of purchase and resale ?

Sometimes, their buying / bid price is higher than the market, and resale is usually less. Buying a custom auctioned vehicle as used / 2nd hand car is the last priority of any potential buyer, which goes in the market to buy a used car.

They do not have documents similar to routine documents of japanese cars.

And that's why less resale.

Does that effect their registration process ?

Nope. I think, registration is not an issue. They get registered, provided engine / Chassis No. is original and have not been tempered. Similarly, body has also not been changed.

Usually, the cars which go in auction are mostly clear from any legal issues, and if some problems arise before / during registration process, then Customs Department should take responsibility for their mitigation.

If I buy a used but unregistered car how can it be verified from CPLC if it is clear or not? Will only the chasis and engine number be enough ?

I think YES!

Although verification is mostly done against registration No. (here in case of Federal Capital), however, it can also be checked against engine / Chassis Nos. But again, concerned authorities can guide best!

I hope, it helps. Thank you.

[pwuser153423031074]

Why would the bid be higher than marked price?

[UAHMAD]

Why would the bid be higher than marked price?

That happens when either you are unaware of realistic value of the car or you get overexcited during the bidding.

[anon35615524]

Public Auction of 500 Stranded Vehicles at Karachi Port

Originally published at: https://www.pakwheels.com/blog/public-auction-of-500-stranded-vehicles-at-karachi-port/ The Federal Tax Ombudsman (FTO) has found more than 500 non-cleared stranded vehicles at the Karachi port. As per FTO’s Own Motion investigation, the vehicles have been imported in violation of Statutory Regulatory Orders (SROs) by the Ministry of Commerce. FTO has ordered the Federal Board of Revenue (FBR) to clear these vehicles in a public auction ASAP. FBR started the auction…

It seems a very good and reasonable article, and some of its excerpts very well explain what happens during the auctioning of vehicles by Customs Department?

(I endorse it, since I am an eye witness to some of the auctions held in Customs Warehouse, G-12 sector, Islamabad)