What does MMR mean in auto auctions?

Most vehicle auction use a multi-bidder round system, meaning that bidders can put in a maximum amount they are willing to pay for a particular vehicle. If no one bids higher, the vehicle is auctioned to the next highest bidder. The current bid is displayed to all bidders during the auction. The winner of the auction receives a payment of the final bid that was placed on the vehicle.

What is mean MMR in car auctions?

Most car auction list their vehicles on a lot basis, which means that the highest bid wins the vehicle. This is called the “minimum lot price” or “minimum bid price”. To make sure that there are no disputes, the car auction will also publish the “maximum bid price”. This is the highest price that a buyer can bid for the vehicle.

What does mr mean in used car auctions?

The acronym “mr” is used in the context of car auctions to refer to the mileage on a vehicle. The mileage on a vehicle is the number of miles that the car has been driven since it was new. So, if you bid on a vehicle with 16,000 miles on it, you’ll know that the car was new or driven about 16,000 miles.

What does mr mean in auto auctions?

The abbreviation MMR stands for miles per gallon. This means that it takes a given amount of miles to travel the same distance as the amount of fuel that is needed to run your car. The lower the miles per gallon rating of a car, the worse the car will perform on fuel for the same amount of miles driven.

What is MMR mean in auto auctions?

The Money, Money, Money factor plays an important role in the bidding process of any car auction. This measure is based on the present cash value of the car. It is the price the car would sell for if it were put up for sale today. With the current market conditions, the lower the money factor, the lower the price.