BestOnlineBid.com
Anyone know anythinga bout dealer car auctions?
My uncle and I are going to a dealer auction. i thought it was a great idea to go, but the more I read about them, the more I see that there are low end, clunker cars, and you can't buy them cheap. Anyone know or been to one and could maybe tell me what kind of cars I would expect to see there? Thanks And I know that you have to be a "dealer" to go to a "dealer auction" but we've gotten around this.
Public Comments
- Remember, what you buy is what you get and all sales are final.
- repo's, highmilage cars, cars they dont wanna put money into, cars that dont sell, alot of junk yard fix ups, Just keep your eyes peeled, you can find some deals....
- First off, dealer auctions are just that. They are for dealers only. You cannot buy or sell unless you are a dealer or a dealers rep. The one exception to this is repossessed cars. The law states that they must be open to the public (this is so the person whose car was repossessed can bid on his own car). One thing to consider if you are wanting to bid on a repossessed car: If they could not make their payments, then chances are they could not afford maintenance. And yes they are sold AS IS. Theres and old saying in the auction business: If you buy it and it breaks in two, you own both halves.
- Make sure you know the mechanical workings of cars ;) Lots of cast offs and stuff that doesn't sell at the lot. You CAN find deals, we send stuff to auction sometimes that is nice but just doesn't sell on the lot. We also sell stuff that our techs look at and wont pass inspection.
Like mentioned, what you see is what you get and if you discover say electrical problems, you are paying to fix. Peopel have the misconception that dealer auctions are pristine cars, not true. And if they are pristine, it is generally thought that whoever pays the most for and drives the price up, will end up selling it for only a small amount of profit.
Good Luck!
- Check out a few auctions. Don't feel like you need to buy from the first one you attend. Every type of vehicle is sold at an auction, sure you'll have the 1984 Olds Delta 88 with a wooden bumper. You'll also have the 2007 Volvo S80 off of a one year lease.
Every auction is aimed to a different market. All cars find their way to auction, repos, used, off-lease, and sometimes even new.
- You can inspect the cars and start them but you can't drive them and fully check them out. That's the risk. Dealers buy many cars over a period of time, and sometimes they end up with problem cars, which they write off as a cost of business. The profit the make on other cars makes up for the loss of a few problem cars.
However, in your case, you are only there to buy one car. So you take your chances. You might end up with a clunker, or you could end up with a good deal. It's a risk you must accept when buying cars at auctions.
- To get into a dealer auction without being a dealer is that you have to go with a dealer and pretend like your his driver therefore only one person can get in yo or your uncle are giong to have to wait in the waiting area
sometimes you can get a nice car sometimes you can get a junk
make sure that they come with all receipts that show that the car was taken care of sometimes you get them sometimes you don't.
check out this video it teaches you to know if the car was taken care of
http://video.google.com/videoplay?docid=-3554255831495327888&q=how+to+inspect+a+used+car&total=18&start=0&num=10&so=0&type=search&plindex=1
also google how to inspect a used car
- There are there kinds of car auctions.
Dealer only auctions --- only licensed dealers are allowed to buy or sell cars,You can not get in or bid without being a licensed car dealer or an employee.
Public auctions --- the public is allowed in.In fact,you usually cant by anything from public 'open' auctions because usually the pricing is too high.
Government and Police auctions --- Every day, the government confiscates, seizes and repossesses thousands of Vehicles.These vehicles are usually typically listed at 90% OFF their original value and auctions usually start at $100.
Eight months ago,I bouht a near new SUV from online police auction.It only cost me $730 and i have not had one problem with it yet .
I followed the guide on
http://www.vehicle-auction.info/index.php?t=usedcar .That site lists top 5 Police auction sites and help you choose the best one.
Hope that can help you.
