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 45 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”. 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”, then you are at risk. You will not be able to title 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.
