What does a court-auctioned car mean?
1 Answers
Court-auctioned cars are vehicles that have been legally seized or confiscated by the court and then put up for auction. These cars may belong to defendants who lack the funds to repay debts, and the court, upon the plaintiff's request, inventories the defendant's assets and seizes or confiscates the defendant's vehicles by authority. Alternatively, the vehicles might have been used as tools in criminal activities and were confiscated by the court before being auctioned. Below is relevant information: Mortgaged Vehicles: The most common type of vehicle involved in judicial auctions is mortgaged cars. For these vehicles, after a successful auction, the car is only released from court custody. The buyer still needs to complete the transfer process themselves, while the vehicle's title ("big green book") and spare keys remain with the mortgage company. In most cases, after a successful court auction, the mortgage company will be notified and will proactively contact the winning bidder. The buyer only needs to sign some paperwork at the mortgage company. Converted Commercial-to-Private Vehicles: Some auctioned vehicles are not mortgaged and may be in good condition overall, with prices that are very attractive compared to the used car market. The auction process may go smoothly, with no parking fees and acceptable levels of traffic violations. However, upon checking the vehicle registration, one might suddenly notice the words "Converted Commercial-to-Private" prominently displayed. These three words indicate that the car was once a commercial (operational) vehicle but later had its status changed to a private (non-operational) vehicle.
