Indemnity fee

[gazzae]

Can anyone tell me what the below means in regard to purchasing a car from an auction?

Indemnity fee applies for buyers

Thanks

[Pog66]

Not totally sure in this context but would suggest it provides insurance against the car being purchased being totally pants. You claim against the Indemnity insurance rather than teh auctioneers?

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not quite link

WHAT IS AND WHY DO I PAY AN INDEMNITY FEE?

An Indemnity fee is charged in order to cover the buyer from the vehicle having any outstanding H.P. Charges (Hire Purchase or Finance), or in the unlikely event that the vehicle is stolen.

[gazzae]

Thanks. Wonder how much they charge

[Pog66]

This may give an idea - I guess it will vary by auction house