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Thread: (Repo) Bike/Car Auctions in India: Reality? and My experience

  1. #1
    Join Date
    Jul 2019
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    Default (Repo) Bike/Car Auctions in India: Reality? and My experience

    Hi xBhpians,

    Just a few days back, the (union bank auction) DSK
    superbike auctions became the talk of the internet! I wanted to share a few points to think about and learn from other xBhpians as to what they think about these auctions - are they worth giving a shot as an individual if at all or, if it's through a dealer, would you still go for it?

    I personally have various contacts in and around Kolkata who deal in Repo vehicles, and they are dirt cheap, believe it or, not! But guess what? Few problems and questions come up in mind each time I see a nice repo car/(super)bike:

    - are these auctions really fair? I always see my dealers getting auction lists even before they are published (I sometimes deal in them as an enthusiast through my dealers)

    - all show and no go? Most of these auction lists (that go public on listings) carry little to no info about the vehicles in question. No mileage or, year of manufactured mentioned.

    - name transfers for them is quite a bit of a task from what I know, coz generally RTO people require original owner of the repo vehicle to be present there for the NT. But the dealers somehow manage to do the paperwork (?)... But for individuals, this maybe a daunting task... (and problematic)

    - finally, there are some really sweet deals, personally I 'm getting an SUV, an unregistered one though from a Repo dealer anytime soon...

    So, is it ethical for Banks to advertise these bikes and vehicles without info like Year of mfg and Mileage? Coz most of the times they don't and only insiders (dealers) get to know of it... My dealer somehow gets to know every bit of info while I just get info about the model of car/bike and colour at most from public listings...

    I think such auctions are quite shady, and not so transparent. Besides, are those pre-launched super bikes which were up for that DSK union bank auction road legal? In that case, what would be the routes to get those cheap as heck bikes registered in my name if at all there is a way?

    What do you think?

  2. #2
    Join Date
    Dec 2015
    41 Post(s)
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    Default Re: (Repo) Bike/Car Auctions in India: Reality? and My experience

    Thread approved.

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