Wednesday, 5 October 2022, 12:32
The used car market in Spain is booming at the moment, due to a lack of components for new vehicles and uncertainty about the economic situation which is making many people postpone their purchase of a brand new car.
Unfortunately, this increased demand for low-mileage second-hand vehicles has made the prices go up, but there is an alternative: some real bargains can be found at car auctions, and some buyers have become the proud owners of makes such as Mercedes or BMW for just over 2,000 euros or other models for less than 1,000 euros.
There are not many auctions of this type organised by the State Agency of the Official State Gazette, but they are worth looking out for. Some of the vehicles on offer have been embargoed because their owners have defaulted on loans, in which case it is important to make sure there are no charges attached to them. Others have been seized by the authorities for different reasons.
Since 2019 all these official auctions have been advertised and have taken place on a specific website, https://subastas.boe.es/ and users only have to register once (using their digital certificate, electronic ID or through the Cl@ve system) to see what's available, access the details and bid.
All the cars have an official valuation and people interested in bidding can do so by leaving a deposit. The prices and valuations are usually competitive, although that doesn’t mean the final price will be. For example, the highest bid for a Porsche Cayenne valued at 20,000 euros is currently 13,500 euros. However, a Mercedes E 270 valued at 2,500 euros has received no bids higher than 1,000 euros.
The age of the cars and their condition have a bearing on the price. For example, an Audi A4 available in A Coruña is valued at 2,600 euros but there is a warning that a front window is cracked and the bodywork is scratched. In other words, this is just like the normal second-hand market.
Also the vehicles put to auction by the authorities do not just include cars: motorbikes, delivery vans, lorries, trailers and even tractors are often available as well.
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