Yes, once you have registered a car in the auction, the registration is binding. However, becoming a registered user or getting a car valuation is non binding. Being contractually bound once an auction commences ensures that both parties (buyers and sellers), are protected on equal terms. Dealers do not have the alternative of cancelling once they have placed a bid on your car and similarly a seller may not cancel once an auction has been entered into. If your company car has not reached your reserve price at the close of the auction, you are no longer bound by your registration. Read more about the auction terms and conditions.