atikovi said: Everybody seems to think you can get cars for pennies on the dollar at car auctions. I guess that is why when I advertise a car for $6000, I get all kinds of offers for $3500 implying they are doing me a favor taking it off my hands at that price.
Ok, but at the same point, for the hypothetical car you're asking $6,000, what's your markup? What offer would you take? $5,000? $4,500? Obviously it completely depends on the car, but if I went to atikovi's cars, I wouldn't expect all the prices to be firm and I would start with a lowball and work up from there. If the dealer needs to pay rent or had the car on his lot for 6 months and it isn't moving, I've gotten some deals that way with offers I assumed would be refused out of hand.
My point was that some people who have never been to a car auction seem to think it's a magical place where you can get nearly new cars for next to nothing. That won't happen. And as an analogy, if a house is listed for $600K, would any realtor think of making a $350K offer?
I'm sure there are many people who think what you're saying, but I disagree with your analogy. I'd say on a $6,000 car there's an average of $500-$1,000 in profit (obviously this is a hypothetical) but if the dealer is starved for cash or hasn't been able to move the car and his inventory is floorplanned, then taking a $1,500 hit on a car he is $5,000 into and taking $3,500 and hoping to make it up with an extended warranty and financing incentives leaves him with a likely loss of under a thousand dollars. Not a terrible way to get some cash fast and open a spot that will sell quickly.
Also, to most dealers, cars are commodities and no significant portion of his business will be in one car (usually). On the other hand, most people are selling the only $600k house they own and they can probably not afford to take a $250k hit just to move it quickly.
Hello. I'm looking for a 2010-2012 Toyota Camry, Prius, or Honda Accord for <12k. I'm hoping someone can take me to the auction in Riverside so I can pick one up. Of course, I'm willing to take care of the person taking me to the auction or going to the auction for me. I'm about thirty miles from Riverside and looking to buy within one week. PM me if you are local and are willing to take me to auction with you or can get one for me. Thanks!
atikovi said: Everybody seems to think you can get cars for pennies on the dollar at car auctions. I guess that is why when I advertise a car for $6000, I get all kinds of offers for $3500 implying they are doing me a favor taking it off my hands at that price. There was a local auction near me where I used to get cars for pennies on the dollar . Bought numerous cars for $300-500 that I flipped for $3-5k
These deals didnt come around every auction but such deals happened at least once a month . I didnt want to have too many cars at any one time so i would do only a few a year
How does one go about financing a car purchased at a Manheim auction? Don't most lenders, credit unions included, require a VIN to secure a loan? Problem is, you don't exactly know which car you're going to end up with when you walk into an auction.
BillLumberg said: How does one go about financing a car purchased at a Manheim auction? Don't most lenders, credit unions included, require a VIN to secure a loan? Problem is, you don't exactly know which car you're going to end up with when you walk into an auction.
PenFed just sends you a bank draft. It is not linked to a specific VIN, I assumed other lenders are similar.
ant1271 said: Any one please post prices for 2011 ML350 3.5L V6 with or without AWD in los angeles area..
I can actually help out with that one.
2011 MERCEDES ML350W2 6G SUV A PS PB AC MR 4X2 17,853 BLACK $28,500 2011 MERCEDES ML350W2 6G SUV A PS PB AC PG 4X2 29,016 BLACK $27,000 2011 MERCEDES ML350W2 6G SUV A PS PB AC PG 4X2 34,303 BLACK $27,750 2011 MERCEDES ML350W2 6G SUV A PS PB AC PG 4X2 29,801 BLACK $27,500 2011 MERCEDES ML350W2 6G SUV A PS PB AC PG 4X2 19,359 STL GRY $24,750
I have a buddy that does this type of stuff, but I don't know if he'd be willing to do it for strangers. If anyone in the Los Angeles area (Riverside, San Diego, San Bernardino) wants, PM me and I can ask. Don't expect a yes, but I can see if there's interest. You'd have to talk to him direct. I'd get nothing out of it, but it might be something he's willing to do. He has a car lot that you can go to so you can verify he's legit.
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