Selling a car at auction thru a dealer. Safe to sign over title beforehand?

Asked by samgeds Jul 14, 2013 at 01:00 PM about the 2011 MINI Cooper S Hatchback

Question type: General

I am sellign my car at MAnheim auction, a dealer is providing this service for me for a
fee. He has said that it would be much easier to sell with title in hand at the auction, ie
he wants me to sign the car over before the auction takes place. This makes sense to
me as if you are a buyer you want to be able to take the car away then and there. It
does make me worried though, is it safe to do this? I do have a contract with the dealer
re the auction and the fee he is charging me, so perhaps i should not be worried. Does
anyone have any experience in this area?

2 Answers
47,765

Racer_X answered 11 years ago

Although I've never done this before, I don't see any red flags, per se from from description. As long as the Dealer is a reputable one (and not some shady little roadside small dealer) AND you have a contact in hand that's signed by both parties regarding the terms & conditions of the auction sale that protects you and guarantees your payment minus their fee...I think you'll be fine, IMO. Best of luck to you!

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5,035

nosmo answered 11 years ago

i would set a reserve before i sell a car because who knows you might not get lucky and only get $2000. just set a reserve on a price you want and then drop the reserve once you reach a price you feel comfortable with. good luck

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