Buying Jargon

Auction catalogues
These are produced for every Manheim auction, showing each vehicle available and including important details such as the lot number, registration, mileage, MOT, and more. Catalogues are available online and also available for a small fee on the sale day at the auction centre itself.

BVRLA
Established in 1967, the British Vehicle Rental and Leasing Association is the trade body for companies engaged in the leasing and rental of cars and commercial vehicles.

Commercial vehicles
We mean vans, trucks, trailers and plant.

Condition report
This is a detailed Manheim inspection report prepared by our expert assessors, containing a full description of the vehicle including any visible damage. More commonly known as an inspection report.

Contract hire
A rental agreement provided by leasing companies. Former contract hire vehicles for sale through Manheim auctions were previously leased by an individual or a company.

Dealer
These are trade clients who buy and sell vehicles at auction. 

DVLA
The DVLA is the Driver and Vehicle Licensing Agency. This is an executive agency of the Department for Transport (DfT) and part of the Motoring Services Group.

Entry form
This is the form sellers complete with full vehicle details before the vehicle can go through the auction.

Fall of the hammer
When bidding ends, the auctioneer will bang his hammer to tell bidders that the vehicle is sold and no further bids will be taken. This is called, the ‘fall of the hammer’.

Finance houses
These are companies concerned primarily with providing funding, e.g. for the leasing of vehicles.

Grading
The condition of vehicles sold by Manheim are assessed using NAMA grading definitions. To find out more about grading click here >

Hammer price
When the final bid is accepted and the vehicle is sold, the auctioneer brings down the hammer - this is the hammer price. The hammer price represents the value of the vehicle before buyer fees are added.

Inspection report
This is a detailed report prepared by our expert assessors, containing a full description of the vehicle including any visible damage. To find out more about inspection reports click here >

Leasing company
These are companies who lease vehicles to businesses and the general public through a financial arrangement over a defined period of time.

Local utilities company
Any organisation which provides services to the general public, although it may be privately owned, such as gas, electric and water. A local utilities vehicle is almost always a commercial vehicle previously used by the local utility company itself.

Log book
This is the all-important vehicle registration document, also known as V5C. 

Lot number
This is the unique number allocated to every vehicle in a Manheim auction. It will be clearly displayed on the vehicle – usually on the windscreen – and also listed in the catalogue.

Manufacturer
They are the companies that produce the vehicle itself, often referred to as the original equipment manufacturer or OEM.

NAMA
NAMA stands for the National Association of Motor Auctions. Our vehicle gradings are carried out to NAMA approved and defined standards. 

Non runners
These vehicles won’t start.

OEM
The original equipment manufacturer, the company that produces the vehicle itself.

Open / closed auction
Open auctions can be attended by all buyers. Closed auctions can only be attended by specially invited buyers.

Plant
This is an industry term that includes a variety of wheeled and non-wheeled assets. Anything from cranes, forklifts, excavators and grass cutting machinery to towable trailers and handheld tools.

Private cars
Vehicles entered into the car auction by members of the general public.

Provisional sale
Many sellers set a reserve price at which they’d like their vehicle to be sold. When the highest bid fails to reach the reserve, we call this a provisional sale. If this happens we’ll contact the seller to see if they'll accept the highest bid instead.

Reconditioning
Sometimes, vehicles arrive at auction with minor damage. Manheim’s highly trained technicians can repair dents, scuffs, scratches and minor damage.

Remarketing
We use this term to describe the entire process for the re-sale of used vehicles. This refers to the wholesale not the retail process.

Reserve price
A reserve is the minimum price set by the seller for the sale of their vehicle. This price is always kept confidential and if the reserve price isn’t reached the auctioneer may look to sell the vehicle provisionally.

Rostrum
This is the podium where the Manheim auctioneer stands.

Sold as seen
Sold as seen vehicles are offered for sale with no guarantee or promise about mechanical condition or quality.

Simulcast
Simulcast is our online bidding platform that allows you to view and bid on physical auctions in real time. Find out more about Simulcast here >

SureCheck
This is Manhiem’s pre-auction inspection service on vehicles and a promise to make it right when you purchase a SureCheck vehicle with a problem.

The sale
Also known as the auction.

Trade
This is the term we use to describe customers from the motor trade.

Van Check
This is the 21 point mechanical check that we carry out on vans, with a money back guarantee, subject to our Terms and Conditions.

VCAR
VCAR stands for Vehicle Condition and Alert Register. If a vehicle has had extensive repairs which are registered on a vehicle database, or has been Subject to a Total Loss (insurance Write Off) this will be highlighted as VCAR.
Vendors
People or companies selling vehicles at Manheim auctions.

Warranted mileage
Where the seller  confirms the mileage of the vehicle they are selling is correct.