Banco do Brasil, as well as other private institutions and companies, holds motorcycle auctions with vehicles that were collected due to unpaid loans. This week, the bank announced the sale at auction of more than 470 motorcycles.

Motorcycles purchased at the Banco do Brasil auction are released for circulation on public roads.

An indisputable advantage of buying a motorcycle at auction is the price. But as everything has its pros and cons, there are many advantages and disadvantages to this type of acquisition.

Today, we will learn more about the advantages and disadvantages of buying a motorcycle at auction, we will talk about how to participate in the Banco do Brasil auction and the necessary documents.

Advantages and disadvantages of an auction motorcycle

Benefits

Arguably, the price is what most attracts new buyers to auctions. O low price of a motorcycle auction is due to the fact that the vehicle for sale has been recalled due to some default, such as non-payment of financing, fines, and other issues.

Because of this, the price of the motorcycle drops a lot, falling below the price of the Fipe table, costing up to 30% less.

Another advantage is the variety of motorcycles that you can find at auction, in addition to different states of conservation.

Also because it is a Banco do Brasil auction, the auction is safer, so always look for a trustworthy auctioneer who follows the laws.

At the Banco do Brasil auction, the buyer can take the vehicle in their trusted mechanic before completing the purchase, which already increases security.

Disadvantages

The motorcycles auctioned generally have irregular documentation, interest on delays, claims that were not reported to the buyer, mechanical breakdowns, among others.

However, it is possible to check the documentation and vehicle condition, as well as your fines before you even buy the motorcycle. This is something that Banco do Brasil provides and allows the buyer to know what they are buying and whether their financial conditions match the future costs.

Always have the right amount of money before bidding on a motorcycle at auction, as there is a deadline for payment, and in some auctions a fine is payable if payment is not made on time.

Who can participate in the Banco do Brasil auction?

Any natural person who has an active registration with the CPF and is over 18 years old, you can participate in the Banco do Brasil auction.

Even so, always read the auction notice carefully before participating, as the regulations may change according to new sales metrics.

Os documents requested to participate in the auction are:

• Copy of ID and CPF;
• Proof of address;
• Proof of income;
• Social contract – in the case of a legal entity.

How to participate in the Banco do Brasil auction?

To participate in the motorcycle auction, simply access the official page of Banco do Brasil regarding auctions, and pay attention to publications. When there is an open auction, it is announced on the bank's website.

BB also holds car and property auctions.