Hello Mabs
I’ve been looking at auction cars, and some prices seem within my budget. If my winning bid is R100,000, is that all I pay? I’m worried about celebrating a bargain and then getting another bill.
Mabs Answers:
You’re right to ask before raising your hand! The winning bid may not be the final bill. Depending on the auction, VAT, buyer’s commission and administration fees may still be added.
Ask the auction house: “If I win this car at R100,000, what will my total bill be?” Get the breakdown in writing before bidding.
Also leave room for registration, insurance and any immediate repairs. Have a trusted mechanic inspect the car beforehand where viewing rules allow. Set your bidding limit only once you know what must come out of the same budget. A bargain should still be affordable when you take it home.
