Many liquidated car models are sold by banks at a cheaper price than the used car market from a few tens to hundreds of millions of dong.
According to a survey of reporters, recently, NCB has announced many auctions of assets such as cars to recover debts.
Specifically, NCB is selling a white, 5-seat KIA Rio car, manufactured in 2016 in Korea with a starting price of VND 260 million. In addition, NCB also sells a Mercedes Benz GLA 250 car with a certificate of car registration issued by the Traffic Police Department of Hanoi Police on December 28, 2017 with a starting price of 1 .04 billion VND, 200-400 million lower than the used car market. In addition, this bank also offers for sale two passenger cars of the Fuso Rosa Thaco brand, 29 seats, manufactured in 2017 in Vietnam, with starting prices of VND 420 million and VND 429 million, respectively.
Not only NCB, recently, VietinBank has also continuously sold and liquidated cars at cheap prices to recover loans from customers. Accordingly, this bank offers to sell 3 Hyundai Grand i10 cars manufactured in 2015 for only 539 million VND. In which, there are 2 cars for sale with the price of 178 million dong and 1 car for sale for 183 million dong.
Before that, at the end of June 2022, banks massively auctioned off valuable collaterals, mostly to pay off debts. Notably, in which, VIB is one of the banks with a large number of liquidated car models with prices from just over 100 million dong.
Specifically, Kia Morning 2012 is priced at only 124 million VND, 2017 Chevrolet Aveo is priced at 170 million VND, 2017 Hyundai Grand I10 is priced at 245 million VND, 2018 Chevrolet Aveo is priced at 196-262 million VND, 2017 Chevrolet Cruze is priced at 230-280 million VND. VND, 2020 Mitsubishi Xpander costs 480 million VND, 2014 Toyota Innova costs 375 million VND or like the 2020 Hyundai Accent liquidated for 440 million VND…
The car with the highest sale price of VIB is the Mercedes C300 2020 for sale for 1.55 billion VND. Mercedes C200 2019 is for sale for VND 1.2 billion, about VND 100 million lower than the used car market.
Or VietinBank Bac Lieu announces the auction of a used Hyundai SantaFe car model, number plate 94A-002.12, manufactured in 2011 with a starting price of 469 million VND including VAT (100-200 million VND lower than compared to the previous year). car prices on the used car market).
Agribank Dong Anh Branch announced to auction the property is a 7-seat car Toyota Prado 30A-334.92, first registered on September 26, 2014 with a starting price of VND 1,255 billion.
It is known that the above prices do not include fees and expenses related to the transfer of ownership, use of assets, registration fees and other fees and expenses… when purchasing properties. Road fees from the date of registration expiration onward (if any) and the above fees and expenses shall be borne by the auction winner.
What to note when buying a liquidated car?
When buying a liquidated car, the bank will have many advantages such as the legal element of the car is fully guaranteed by the bank. At the same time, the bank is also willing to sell and liquidate in the form of installments. That is, the buyer can borrow from his own bank to buy a liquidated car.
However, when buying liquidated cars, especially older models, with a shelf life of up to decades, users need to carefully check each part, details and operability to avoid buying. must be a poor quality car.
In addition, cars that are too old are difficult to find replacement parts, or have to buy parts at high prices, or accept to use old parts, which cannot control the quality. Not to mention that the car will have many small holes and run unstable. In addition, the car is too old, the fuel consumption is very large, especially with the cars manufactured from 1995-2004. After 15 years of use, fuel consumption is much higher.
Although the liquidated car is quite cheap compared to the market price, compared to used car showrooms, the problems that buyers face are still more, while many good cars are sold by banks. market price. This is also the reason why most buyers still want to trade on the used car market instead of hunting for liquidation of the bank.