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'm in socal and can help people out now myself. I'm going to go through the TOS tomorrow just to make sure I'm not breaking any rules by posting pricing (my previous post was from sample numbers I got before I signed up).
I'll tell you... the whole thing is a bit overwhelming once you get in. There are a bizarre amount of auctions.
ebratkov said: Hello, looking for manheim price for:
2008 Toyota Prius Touring around Kansas City, MO area
I looked through the TOS and it says that I'm not allowed to automate or exploit the data, but I don't *feel* like answering a question or two like this is a violation.
Only one sold in KC recently, and it wasn't a Touring:
03/19/14 KC Regular $4,100 224,431 Below GRAY 4H A Yes
The price range seems to be:
$11,833 $8,120 $4,407
for above average/average/below average nationally.
My experience at watching the auctions the last couple of days in my area is that cars that are in what I would consider to be near-sellable condition are consistently going for more than the above-average rate. There is a LOT of junk being sold that needs significant attention before being sold retail. Keep in mind too that on top of the sell price, there are additional fees which vary from auction to auction.
I also discovered NADA Market Values, which - I'm not sure about the web site, but the $1.99 mobile application shows an AuctionNet price that is similar to Manheim's, along with retail pricing that's close to Kelly Blue Book and a heck of a lot easier than either to do research with.
It could be that this time of year there are more people looking to buy cars because of tax refunds - explaining why cars are going for more than recent transactions, but... from what I'm seeing paying attention to low-end cars there is a very wide variety of quality, with a distinct minority being ones with good tires, a good interior with no odor (so many stinky cars!), good air conditioning, and a clean exterior that would pass a cursory rental car inspection without any marks. Another possibility for the prices I'm seeing is the fact that I'm in southern California and everything is a little more expensive than normal here.
I was excited to see a below-average Audi TT roadster that according to recent transactions should have sold for ~3-4K. I thought... "there's a car I can drive for a couple of weeks, fix up, and turn over really easy with the weather we're having." It sold for $5600.
I also saw a couple of runs of disaster cars. One's that were obviously being sold for parts or for body shops to salvage. I'm sure cars like that show up on the transaction reports as well.
Looking nationally, from what I can tell there were 6 '08 Touring's sold nationally in the last month, with prices ranging from $5300 to $10,900, odometer readings ranging from 43K to 164K.
SUCKISSTAPLES said: 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 I assume these were dealer auctions?
Can anyone help me? I'm searching for an '06 - '07 Armada in the NY/NJ/CT area with less than 115,000 miles. Leather interior and sunroof are preferred. Hard stop with tax and tags included is $12,500. The best deal I've seen thus far from a local dealer is about $12,800 (tax and tags included)for an '07 Armada, 118,000+ miles, 2WD, and one accident. No leather, no sunroof, etc... just standard package with cloth interior. There is another dealer who found a nice fully loaded '06 and he quoted $12,000 but with transportation fees (he said it was out of state) and taxes and tags, I was looking at over $14K which is outside of my price range.
Can someone make a list of the recent sale prices for 2007 Saturn Relay/2007 Mercury Monterey/2007 Ford Freestar in the Texas area? I am looking to buy one of of these in the DFW/ Dallas auctions very soon.
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