I want to buy vehicle from auction, is the deposit refundable upon winning of a bid or not?

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Auction Deposit is refundable only till the Bid is not Won. However, it’s your wish whether you want to keep your deposit with the seller and use it for the future cars to be bought from Japan Auto Auctions. Or you can ask the seller to deduct the deposit amount from the total amount of the car and send you the balance invoice to make payment.

Auction Deposit is used as an advance payment by the seller to confirm that you are seriously interested to buy the car and only then they decide to bid in the auction. Once the car is purchased, its seller’s liability to make the payment for the purchased car to Auction hall therefore the seller will not refund the Auction Deposit received from you.

Few sellers may provide an option to cancel the purchase, by accepting a cancellation fee from you. In that case, they refund your advance payment by deducting the cancellation fee from it, but the complete auction deposit cannot be refunded after the bid is Won.

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