If you've ever dreamt of owning a luxury car but honestly don't really have enough funds to do so, JPJ Perak might be able to help you out with that!
A total of 100 seized vehicles consisting of 30 clone cars, 43 cars, 23 motorbikes and 4 motor lorries will be up for auction on the 24th of Mac 2022 at Blok H JPJ Ipoh. JPJ Perak posted a video on their Facebook page announcing the date of the auction and how to participate in the auction.
In the video, you can see the narrator showing off an Audi car and also a BMW... Could one of those be yours? Yes, they can! Here are a few tips on buying seized cars and how to participate in the auction:
[ Tips On Buying Seized Cars ]
Before buying a seized car, here's what you need to know:
- Check the market price of the vehicle before bidding to ensure that your bid on the vehicle does not exceed the market price
- Bring in a friend who specializes in vehicle engines to check if the vehicle has any critical damage that could add to the cost of owning the vehicle
- Keep in mind that the estimated cost for auction charges, name change, new insurance, runner cost for Puspakom and JPJ is RM1500 and above for cars and RM 800 for motorcycles.
- You can't take any loans if you win the bid because, in the tender contract, full payment must be completed within 14 days by the winning bidder and the bank will not provide a loan
[ How To Bid On Seized Car ]
Before The Auction
1. Register as a bidder by buying an auction book at the JPJ Ipoh Finance Unit from 16 March 2022 to 22 March 2022. Only 120 copies of the auction books will be sold and only auction book buyers will be allowed to make a public inspection of the auctioned vehicles.
The auction book cost RM70.
2. You will then have to inspect the vehicles to ensure that the vehicle you wish to bid on is in satisfactory condition and most importantly the vehicle serial number and engine serial number are the same as stated in the copy of the vehicle grant. This is when your friend who has extensive knowledge of vehicles will come in handy.
You can perform a public inspection of the vehicles from 16 March 2022 to 22 March 2022 at JPJ Ipoh, JPJ Sri Manjung, JPJ Taiping, JPJ Tapah or RTD Enforcement Station, Kuala Kangsar.
On The Day Of The Auction
1. If you're satisfied with the condition of your vehicle and interested in entering the auction, you'll need to prepare for the day of the auction. On the auction day, bidders have to provide deposits as required. So make sure you ask about how much is required and prepare the amount for the day of the auction.
Also, reconfirm if the auction house allows payment by card or if they only accept cash payments.
2. During registration, you'll have to make the deposit payment and you will receive a numbered bid card and you can wait for the vehicle of interest to be auctioned.
After Winning The Bid
1. If you win, you will receive a contract document that states the price of the vehicle you won and the balance that needs to be paid within the stipulated period.
If you lose there is no need to worry, your deposit is returned in full.
2. After winning the auction, the vehicle must be inspected by Puspakom to ensure it is valid and safe to use. An on-site inspection by Puspakom can be performed with a small fee.
If the vehicle fails the Puspakom inspection then the bidder can claim back the deposit provided that the vehicle is inspected by a representative of the auction house. No deposit is refunded if the vehicle inspection is made after leaving the auction house.
3. After getting the Puspakom documents, the balance payment must be made to the bank or financial institution where the vehicle is charged.
4. After all payments are made, you will receive the documents required for the registration of the vehicle to the new owner.
The new owner must bring the documents to JPJ for the name change. Make sure that before going to JPJ, the vehicle has been insured to the name of the new owner before the grant and road tax are issued by JPJ.
5. After getting the name change, grant and road tax, the vehicle can finally be driven on the road!
Make sure you service the vehicle to ensure it is safe from any damage because this vehicle has been idle for a long time and exposed in an open store.
If you're interested in the BMW and Audi then head on over to JPJ Ipoh, and register for an auction book! This is your chance to get the car of your dreams for a much more affordable price!