Buying an Abandoned Vehicle?
Who has abandoned vehicles and why are they selling them ?
Automotive repair shops, towing services, individuals and varies businesses
have abandoned vehicles. These vehicle are left by the owner, someone acting
as the owner or towed by the towing company for varies reasons. After
60 days, the vehicles are considered abandoned and are sold to recoup money
invested in the vehicle. (Repair fees, storage, towing etc)
Are there risks involved from buying an abandoned vehicle ?
No, If the vehicle was sold under the Code of Alabama 32-13 and all
procedures where followed outlined by this code correctly, there is no risk
in buying an abandoned vehicle. When you buy an abandoned vehicle, you are
presented with an "Alabama Abandoned Motor Vehicle - Bill of Sale
packet". This packet contains all the proper documentation giving
the business or individual the right to sell the abandoned vehicle to you.
You would take this packet to your local tag issuing office where they would
sell you a tag and apply for the title, just as you would if you purchased a
vehicle with a title.
If you did not received the "Alabama Abandoned Motor Vehicle - Bill of
Sale packet", then you are at risk. You will not be able to
resell the vehicle or obtain a tag.
Will I get a better deal from buying an abandoned vehicle.
This varies, abandoned vehicles are supposed to be auctioned. The bid can
start at what's owed on the vehicle or a fair market value. If the
vehicle did not sell at the auction, it can be sold later at a much cheaper
price or what the business has invested in the vehicle. The person in
possession of the vehicle has sole discretion in this matter.
