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How To Save Money At Car Dealer Auctions?

Looking for a how-to guide on value buying at car dealer auctions.

Public Comments

1. first off, do you have a dealer license? Cause you cant get in without one.

   Second, the obvious things. Use the blue book as a guide. get the auction's MMR (market report) that tells you what they sell any car for on average. Look the cars over. Buy low sell high. Take market value, deduct for repairs, and you have your bid

   EDIT - Dave is incorrect. When we send cars to auction there are several reasons. Yes, they may be cars we do not want to spend money on recon. But we also send aged units (cars that have been on the lot more than 90 days) and cars that do not fit our market profile.

   Where do you think small mom-n-pop lots get cars from? And we larger dealers don't get enough trades to stock our used lines, so we buy at auction as well.



2. If you really want to save money then don't buy a car at auction! That is where the dealers send all the cars they know they can't afford to fix so they just want to get rid of them!


3. Know how the auction works, know the rules, know enough about cars to be able to judge a car's condition by looking at it and starting it (you can't drive auction cars), identifiy the cars you're interested in by attending early, and know how much each car is worth (don't overbid). You are a licensed dealer, right? And you can prove you have the funds to pay for any bids you make, right?


4. Car dealers have the license to access dealer auctions across the country, which puts them in direct contact with a greater spectrum of cars on the market.

   So if a person is looking to buy cars off auctions but does not know how to get a good deal, car dealers come into the picture and help the person get the best price. These guys know the ins-and-outs of the industry and are like the 'prospectors of good deals' in the automotive industry.

   When you buy a car from a dealership, you are really buying a car from the auction with a large mark up. In contrast, car dealers can purchase any vehicle from any dealer auction in the United States and deliver it to you at significant savings over the retail price. The site below is a good guide on saving money at car auctions, both in the US and Canada. Check the video for more.