yobuttin said:Id be very careful when purchasing from auctions. Most of the time cars are being sold because they have major defects. Don't be suprised if you purchase a car, go to sit down in the drivers seat, and have a need poke you that is infected with hep. A lot of cars being sold, the previous owners had to sleep in them because they could not afford an apartment. You can guarantee most of these cars have puke stains, cigarette burn holes in the seats, not to mention the fact there is prob a little human waste in them. This is just a caution to anyone willing to play russion roulette with buying a car at an auction.

Sounds just like all the lease return cars I have ever seen... (WTF?)

barrymis said:You are lucky that your paid only $600 to your friend. I had a friend who wanted $10,000 commission in order to buy me a car from auction (in Wisconsin)!

I'm not so sure I'd call him a friend.

yobuttin said:Id be very careful when purchasing from auctions. Most of the time cars are being sold because they have major defects. Don't be suprised if you purchase a car, go to sit down in the drivers seat, and have a need poke you that is infected with hep. A lot of cars being sold, the previous owners had to sleep in them because they could not afford an apartment. You can guarantee most of these cars have puke stains, cigarette burn holes in the seats, not to mention the fact there is prob a little human waste in them. This is just a caution to anyone willing to play russion roulette with buying a car at an auction.

I beg to differ. Many of these cars are lease-returns. People who lease their cars tend to be more careful with it since it's not theirs and they will be judged on its condition upon its return. Nobody wants a big dealer bill when the lease ends.

Rental cars are another story.

mnsweeps said:I send you the Dallas dealers name and address via PM. I hope you got it. Thx

Yes I did. Thanks, and keep me posted.

Well, I have several friends who got their cars through auction and they all are running really well. One of the guys got his new Lexus SUV from there. The car is literally "brand new". You can still smell the new interior inside the car... It was awsome!!!
For the original poster: since you have the dealer license (or at least access to the auction site), can you tell me if there is any BMW 530XI available? I'm looking for one with premium and cold weather package, navigation and sport package. If the car is built after 10-2005 then that's the best since the previous version iDrive doesn't have schedule-automatic cooling system built-in.Thanks

khom said:qapla said:
Was this a good deal? Well, you’re bidding against other dealers that see the vehicles as generic pieces of metal. In other words, you’re pretty much assured that you won’t get caught up in a bidding war since over 1,500 vehicles were being sold that day and the dealers have no particular interest in the one you’re looking for as opposed to the next one.


Don't be so naive... alot of dealers bring in customers (even though it is against the rules). So you are no longer just bidding on "generic metal" and will have to deal with bids going past wholesale. I used to help a friend who ran a repair shop and sold a few used cars a month. I'd accompany him on trips to Manheim in Bordentown, NJ and there were all kinds of shenanigans going on. You have to have all your wits about you, be on your guard, and check the car out as thoroughly as one can. Once you buy a car there, you're stuck with it. Even if it is a lemon. As a matter of fact, it's the best place for used car dealers to rid of lemons and slow selling models.

The dealers who bring you in can actually risk suspension or revocation of their auction privileges. However, they stand to make fast money by quickly turning over the car, and have absolutely no responsibility should the car have problems (it is passed on to you absolutely AS-IS). It's really a great situation for a dealer. They don't have to front or float any cash just to fill in their lot with a wide variety of makes and models, transport the cars from auction to their lot, nor even have a car lot at all. I knew of other dealers who qualified for state issued dealers licenses by simply hanging a sign on the site of someone else's business (and by paying them a small monthly fee). Their business is solely based on bringing customers straight to the auctions.

In the used car business, the best sources for quality inventory are from original owners, it's way better than auctions. You can more easily low-ball a customer and buy the car from them for cheap. If you are willing to do the homework, and don't need the car right away, this is the best way to find a quality used vehicle at a bargain.

I agree, I've bought several Toyotas and Hondas before from newspaper want ads and
they were great deals where the people just needed money and the cars were selling
for hundreds less than wholesale.

HappyGuy said:Tacoma99 said:

I agree, I've bought several Toyotas and Hondas before from newspaper want ads and
they were great deals where the people just needed money and the cars were selling
for hundreds less than wholesale.

Just curious how people are estimating wholesale values for cars.

It's available online.

My family has purchased 5 cars over the years at auctions, and we've had a great experience. I know a guy in NYC who takes us there for a fee of around $300, and he obviously doesnt charge anything if you dont buy a car, you go up there in his car and drive back whatever you buy. He helps you pick out the car and is pretty good at seeing if they were in accidents, etc... Also, he can get you a car at the auction, which he did for my uncle, and then bring it back and sell it to you with no markup, just the fee. he'll check out the car at a mechanic before he brings it to you, adn wont sell it to you if it has problems. PM me if you want his contact info.

If anybody knows a dealer in the DC area willing to go to the Manheim auction in PA, please PM me.

-holla

Tacoma99 said:khom said:qapla said:
Was this a good deal? Well, you’re bidding against other dealers that see the vehicles as generic pieces of metal. In other words, you’re pretty much assured that you won’t get caught up in a bidding war since over 1,500 vehicles were being sold that day and the dealers have no particular interest in the one you’re looking for as opposed to the next one.


Don't be so naive... alot of dealers bring in customers (even though it is against the rules). So you are no longer just bidding on "generic metal" and will have to deal with bids going past wholesale. I used to help a friend who ran a repair shop and sold a few used cars a month. I'd accompany him on trips to Manheim in Bordentown, NJ and there were all kinds of shenanigans going on. You have to have all your wits about you, be on your guard, and check the car out as thoroughly as one can. Once you buy a car there, you're stuck with it. Even if it is a lemon. As a matter of fact, it's the best place for used car dealers to rid of lemons and slow selling models.

The dealers who bring you in can actually risk suspension or revocation of their auction privileges. However, they stand to make fast money by quickly turning over the car, and have absolutely no responsibility should the car have problems (it is passed on to you absolutely AS-IS). It's really a great situation for a dealer. They don't have to front or float any cash just to fill in their lot with a wide variety of makes and models, transport the cars from auction to their lot, nor even have a car lot at all. I knew of other dealers who qualified for state issued dealers licenses by simply hanging a sign on the site of someone else's business (and by paying them a small monthly fee). Their business is solely based on bringing customers straight to the auctions.

In the used car business, the best sources for quality inventory are from original owners, it's way better than auctions. You can more easily low-ball a customer and buy the car from them for cheap. If you are willing to do the homework, and don't need the car right away, this is the best way to find a quality used vehicle at a bargain.


I agree, I've bought several Toyotas and Hondas before from newspaper want ads and
they were great deals where the people just needed money and the cars were selling
for hundreds less than wholesale.

Yeah, I've been to the Bordentown, NJ auction a few times....man that place is huge....what a
zoo...it's a wonder anybody knows what the heck is going on.