Purchase Process
The process of purchasing vehicles through the BidCars platform is characterized by its ease and transparency. Key is having basic website navigation skills, which include tasks such as placing auction bids, depositing a security deposit, and carrying out international transfers in U.S. dollars (USD) and euros (EUR) through your own bank. We handle all the formalities for the client: from contacting the auction house, managing documentation, organizing transport in the United States, container loading, unloading, to customs clearance and delivering the vehicle to the specified address.
When using our service, the bidding process differs slightly from traditional live auctions. As a user, you do not bid in real-time personally. Instead, you delegate the bidding on our site by entering the maximum amount you are willing to offer on the page of the selected vehicle. This amount is confidential, visible only to us at BidCars, and is not disclosed before the start of the live auction at the auction house.
If the amount you specify is higher than the starting bid of the live auction (i.e., higher than the closing bid of the preliminary auction), then we will represent you up to your specified maximum amount during the live auction. However, it's important to remember that due to technological limitations, users cannot participate directly in the bidding during the live auction. You can only specify the maximum amount you are interested in bidding for a particular vehicle. It's worth noting, though, that there is an option to increase this amount up to 10 minutes before the final live auction.
From our experience, this method of purchasing a vehicle tends to be more considered, as it eliminates the factor of emotion that often comes into play during live bidding. A purchase made without emotional involvement usually proves to be more successful and satisfying.
If the amount you specify is higher than the starting bid of the live auction (i.e., higher than the closing bid of the preliminary auction), then we will represent you up to your specified maximum amount during the live auction. However, it's important to remember that due to technological limitations, users cannot participate directly in the bidding during the live auction. You can only specify the maximum amount you are interested in bidding for a particular vehicle. It's worth noting, though, that there is an option to increase this amount up to 10 minutes before the final live auction.
From our experience, this method of purchasing a vehicle tends to be more considered, as it eliminates the factor of emotion that often comes into play during live bidding. A purchase made without emotional involvement usually proves to be more successful and satisfying.
The fee calculator on the BidCars website is considered accurate, providing precise estimates of the costs of importing a vehicle. However, there are several factors to keep in mind that might affect the final cost:
- The calculator is based on the average exchange rates from the National Bank of Poland (NBP) on the day of the auction, which may differ from the actual exchange rate used by the client.
- It does not include fees for transferring money to the USA, which range from 10 USD to 50 USD depending on the bank.
- It omits fees listed on the Penalties and Additional Charges page, mainly depending on when the client completes the transfer.
- It does not cover costs related to additional document processing if the documents provided by the auction house are insufficient.
On the BidCars website, we display all vehicles from IAAI and Copart that have a set sale date. We do not show vehicles without a sale date, marked as: Auction not assigned, Upcoming lot, or Future sale. Due to technological reasons, we also do not display vehicles from IAAI offered by sellers such as Ally Financial, Title Max, Avis, Enterprise Vehicle Exchange, or Enterprise Fleet Management Exchange.
To bid on a vehicle on BidCars, you first need to use the search engine to find an interesting car from the USA. Then, by creating an account on the platform, you must deposit a required refundable deposit, which will allow you to participate in auctions. The bidding process begins on the page of the selected vehicle, where you enter your maximum bid and click the "Place Bid" button. The auction takes place in two stages: preliminary and live. During the latter, BidCars represents the user, bidding the vehicle up to the set maximum amount. This gives users a chance to purchase a vehicle at an attractive price. For more information and details about the auction process, visit https://proces.bid.cars.
The auction process at the auction house is divided into two main phases:
1. Preliminary Bidding Phase (Pre-Bid/Preliminary Bidding): This is a multi-day auction that usually starts at $0.
2. Live Auction: After the preliminary bidding phase ends, the live auction, a fast-paced auction, begins. This phase starts from the highest bid from the preliminary auction.
If your offer as a BidCars user exceeds the highest bid from the preliminary auction at the auction house, our team will represent you during this live auction. We represent you up to the maximum amount you have set for yourself. This ensures the highest efficiency during the auction and the possibility of purchasing the vehicle at an optimal price.
1. Preliminary Bidding Phase (Pre-Bid/Preliminary Bidding): This is a multi-day auction that usually starts at $0.
2. Live Auction: After the preliminary bidding phase ends, the live auction, a fast-paced auction, begins. This phase starts from the highest bid from the preliminary auction.
If your offer as a BidCars user exceeds the highest bid from the preliminary auction at the auction house, our team will represent you during this live auction. We represent you up to the maximum amount you have set for yourself. This ensures the highest efficiency during the auction and the possibility of purchasing the vehicle at an optimal price.
After winning an auction on the BidCars platform, your bid status will change to "Vehicle Won." This means that your offer has been accepted by the seller and you have successfully purchased the vehicle. There's a possibility that the final amount you pay may be lower than the maximum bid you offered, thanks to BidCars' efforts to purchase the car at the most favorable price during the live auction. Within a few hours after the auction ends, you will receive an email with transaction details, including the account number, the exact amount due, and the transfer title. Payments are made in USD, directing funds directly to the auction house, be it Copart or IAAI.
To finalize the payment for the vehicle you've won at auction, you need a USD currency account and the ability to make international bank transfers. Although the payment information we provide is clear and understandable, if you have any doubts about conducting the transaction on your own, you can print the email we send you, along with the attached PDF file containing the transfer details, and seek assistance at your local bank branch.
The BidCars commission is set at a fixed rate, regardless of the value of the purchased vehicle, and amounts to 450 USD plus VAT. The final amount is converted according to the current exchange rate of the National Bank of Poland (NBP) and is required to be paid in Euro a few days before the vehicle's arrival in Europe.
Unfortunately, we cannot definitively determine the final price of a vehicle that will be put up for auction. For our clients, we have prepared a tool named "Estimated Cost," which uses data from past auctions to present an estimated price range for a specific vehicle model. This allows you to estimate the amount for which a particular vehicle might be auctioned off. For more detailed information, you can also review our price archive. An exception are offers with a "buy now" option, where the price is fixed and the vehicle can be purchased without participating in the auction.
After winning an auction marked as "on approval" or "minimum bid," you typically wait for the seller's response for up to 24 hours. However, under certain circumstances, the waiting time may extend up to 3 days. All updates regarding the status of your offer will be available directly on the page of the selected vehicle and in the "Auctions" tab on your BidCars account.
Every client, by registering an account on the BidCars platform, accepts our terms and conditions, available at https://bid.cars/en/terms, as well as the general order conditions, which can be found here: https://bid.cars/en/too. This acceptance has the same legal effects as signing a contract in paper form. We do not require clients to sign an additional paper contract, as the electronic version is fully sufficient for us.
The individual whose account is registered on the BidCars platform does not have to be directly associated with the person or company for whom the vehicle will be cleared through customs. Information regarding who will be the owner of the vehicle is provided in a specially prepared form. This form is automatically sent to the client before the vehicle arrives in Europe. In the form, you can declare that the vehicle will be cleared for a company and provide detailed information about that company. It is important that the company has a VAT-EU number and an EORI number, which are necessary for these types of transactions.
Unfortunately, due to technological limitations, we are unable to offer the possibility of simultaneously bidding on two or more vehicles with the option to cancel the bid on the second after winning the first. In a situation where a client decides to bid on two vehicles whose auctions are happening simultaneously or at a close time, they must accept the risk of potentially purchasing both vehicles.
In the case where multiple people through BidCars commission the auction of the same vehicle and more than one person wins the auction, priority is given to the person who first placed the auction order. This principle, outlined in the general terms and conditions, ensures fair treatment of all clients in such a situation. More information on this can be found in the General Terms and Conditions available here.