Can someone please help me out with the prices for 2010 Nissan Altima with SL (leather) ; If that's too specific Altima's from 2009-2010 will be very helpful.
I have a friend whose fee is $1500 for Manheim at Chicago. Based on some of the posts I've seen in this thread much earlier this seems a tad bit high. Anyone here have experience purchasing from Manheim in Chicago and shed some light?
Also any thoughts on whether this price is reasonable or not would be appreciated.
stephensimpson said: I have a friend whose fee is $1500 for Manheim at Chicago. Based on some of the posts I've seen in this thread much earlier this seems a tad bit high. Anyone here have experience purchasing from Manheim in Chicago and shed some light?
Also any thoughts on whether this price is reasonable or not would be appreciated. That's not just a tad bit high that's extortion.
Any dealer charging more than $500-750 is ripping you off. Good ones do it for $300-500
Hi, I am looking to buy 2007-2008 BMW 328i or 335i 2dr (coupe), can please post current mmr (auction prices)???? PM to me if somebody can help me buy car in Seattle. Also I can fly to Oregon, California. Thanks!!!
HELLO, IM CONSIDERING BUYING MY CAR FROM A MANHEIM AUCTION, AND I WAS WONDERING WHAT A 2003-06 FORD EXPEDITION LIMITED OR Eddie Bauer WITH LESS THAN 80K USUALLY GOES FOR, AS WELL AS A LINCOLN NAVIGATOR 2003-06 WITH 80K OR LESS. THANK YOU
I hate to be shameless and hate to beat off already-dead post, I really, really need a dealer who would be buy my next car for me. I am located on IL, but I am willing to get there, too. I am willing to pay 500 bucks for helping me out buying my car. Thanks!
I am looking for information on a Cadillac DTS 2009-2011, based in Milwaukee. Can someone pull me an auction report and if you have the ability to purchase a car at auction, I would be interested in working with you.
Prefer the platinum or premium package if that information is available
SUCKISSTAPLES said: stephensimpson said: I have a friend whose fee is $1500 for Manheim at Chicago. Based on some of the posts I've seen in this thread much earlier this seems a tad bit high. Anyone here have experience purchasing from Manheim in Chicago and shed some light?
Also any thoughts on whether this price is reasonable or not would be appreciated. That's not just a tad bit high that's extortion.
Any dealer charging more than $500-750 is ripping you off. Good ones do it for $300-500
Suckis, would you care to refer some good ones in bayarea?
Curious... seems like $500-$600 is what I see most on a dealer working with a buyer on an auction purchase. What level of service would you guys expect at that rate?
Slight highjack - does anyone have any recommendations with respect to shippers of cars? Seems like everyone who contracts through eBay has horrible reviews.
Looking for pricing info & a dealer in the North Bay (though I'm willing to drive south if it comes up) on a 2002-2005 Audi TT (Roadster, Manual)... SIS, you can probably recommend someone?
As the used car market has been strong, I've been noticing that the Manheim results I've been reading have had a much higher mileage on each unit. It seems like there isn't a whole lot of vehicles that are under 60k miles and those that are you're paying a hefty premium for. Though, good news for Delzy, at a recent Manheim California auction there were 6 expeditions for under $3,000. He's promising to buy a lifetime supply when they hit $1,000 and I kind of want to see pics...
KLineD said: OK, but if so, and I don't know anyone that has dealer connections, am I SOL?
I would say your best bet would be to figure out what you want, pull the money together, go to an independent dealership, tell them what you want to do and ask them what type of cut they would want. If you have the cash in hand and can make an easy $500 for something they have to do that week anyway, why not?
mwa423 said: KLineD said: OK, but if so, and I don't know anyone that has dealer connections, am I SOL?
I would say your best bet would be to figure out what you want, pull the money together, go to an independent dealership, tell them what you want to do and ask them what type of cut they would want. If you have the cash in hand and can make an easy $500 for something they have to do that week anyway, why not?Respectfully, this is a bad, bad, bad approach. Car auctions aren't what you imagine them to be and unless you get insanely lucky, you aren't going to get a great car cheaply in 1 week.
geo123 said: mwa423 said: KLineD said: OK, but if so, and I don't know anyone that has dealer connections, am I SOL?
I would say your best bet would be to figure out what you want, pull the money together, go to an independent dealership, tell them what you want to do and ask them what type of cut they would want. If you have the cash in hand and can make an easy $500 for something they have to do that week anyway, why not?Respectfully, this is a bad, bad, bad approach. Car auctions aren't what you imagine them to be and unless you get insanely lucky, you aren't going to get a great car cheaply in 1 week.
It depends on what you're looking for. Geo's example was that he wanted a very specific (relatively rare if I remember correctly) car in a very specific condition. If you want the same thing, my idea is exceptionally bad. The question is, what do you want? The Manheim market is a very efficient market and you probably won't get an out of this world deal on a common vehicle unless you get exceptionally lucky. Let's use a 2008 Malibu as an example (specifically the 2008 v6 LTZ). There were 17 sold this week nationwide and all of them in the same condition were within roughly 10% of each other (with the main factor appearing to be mileage). So, in theory, any Tom, Dick or Harry could go get you a similar car in similar condition at a similar price.
But who gives a damn about a 2008 Malibu? Let's go a bit more up market. 2010 BMW 750LXI. Much smaller sample size to look at (7), but still, all results for a given condition are within a statistically insignificant amount one way or the other nationwide.
So, if you have something specific and reasonably available car and have the cash to pay it's going rate, why would you assume one Manheim buyer is going to be any better or any worse if you give them the same set of specs?
mwa423 said: Geo's example was that he wanted a very specific (relatively rare if I remember correctly) car in a very specific condition.That was the first one. The second one was just a G37. Then there was a third and a fourth (friends), which were regular non-luxury cars.
Let's use a 2008 Malibu as an example (specifically the 2008 v6 LTZ). There were 17 sold this week nationwide and all of them in the same condition were within roughly 10% of each other (with the main factor appearing to be mileage). So, in theory, any Tom, Dick or Harry could go get you a similar car in similar condition at a similar price.For the week ending February 16, for the Malibu's in an "above average" condition the price was $16,470 with 31,115 miles, $12,665 with 62,229 miles and "average" condition and $8,860 with 93,344 miles for "below average" condition. Manheim is showing that 20 of them were sold.
By the way, when I look at the transaction history, I only see one that was in an "above average" condition, which was sold in PA for $15,600 with 12,295 miles.
Also remember that "above average" is a very broad term. You can have a Manheim 4.0 rated car ("above average"), which requires $1,500 worth of reconditioning (bald tires, missing smart keys, an interior that's been smoked in, etc...) vs. a 4.9 rated car that doesn't need anything. Also remember that if you are on the East Coast and the car is in California, depending on the car and your exact location you can easily end up paying $1,000 to have it shipped to you. Also remember that a lot of sales events don't have cars that you want in the condition that you want or have floor prices that are higher than what you are willing to pay. In other words, expecting to buy a good car at a good price in 1 week is not realistic.
I only remembered your first example (and didn't bother going back to find the specifics).
You're right that 20 were sold, I ignored the 3 below average (Hobby, Phoenix and Tampa) because they would have only served to confuse my point, but for a similar condition, they are close to each other in price (the one that is $1,500 more than the next most expensive also has 3/4 the miles of that unit).
Your warnings about transportation costs and condition are both fair warnings and I didn't say that any given person could get the exact car on the first week. They can't buy what isn't being sold. If I hired a guy to go to Manheim Cincinnati and buy me the 2008 Malibu LTZ, it would be impossible because none have been sold, thus I'm obviously out of luck. If I detail that I'll take an average condition unit, any color, not having smoked inside, under 55,000 miles and I was in Atlanta and had $16,000 budgeted, I probably would be driving a black one today with 53,403 miles on it.
So, my question remains, for KlineD above, if he has reason to believe that Manheim is a deal over buying at a used car lot or private party, why is one buyer much different than the other? From the results I can see, the market is efficient enough that if one unit has bald tires, the selling price will be that much lower.
mwa423 said: If I detail that I'll take an average condition unit, any color, not having smoked inside, under 55,000 miles and I was in Atlanta and had $16,000 budgeted, I probably would be driving a black one today with 53,403 miles on it.I agree with this and it would also likely to be a pretty poor choice (Manheim's "average" condition units are not rated "average" because somebody spilled a box of cereal on a seat). An "average" rating could signify anything from a pretty major accident that wasn't fixed properly (subpar accident repairs show up there all the time), a fair amount of abuse to a moderate number of fairly deep scratches, dings and other types of moderate but largerly aesthetic damage.
To me, even if you don't care all that much about your car's aeshetic condition, its looks will often (not always but often) match its mechanical condition, as a person who doesn't care all that much about the car's exterior would be more likely to have the same attitude towards the car's maintenance.
So, my question remains, for KlineD above, if he has reason to believe that Manheim is a deal over buying at a used car lot or private party, why is one buyer much different than the other? From the results I can see, the market is efficient enough that if one unit has bald tires, the selling price will be that much lower.The Manheim market is actually not all that efficient, at least not in the same sense that you and I think of it. If a dealer has a high quality and low cost in-house BodyShop, it will generally be willing to pay extra for a car that requires some body work. This won't mean that the same car will represent a good deal to a person who doesn't have access to the same BodyShop at the same in-house price.
Likewise, if a dealer already has a buyer looking for a certain car, it will be willing to pay more for it because of that. You may even be bidding against another individual who is using a broker. A car may be in short supply in a certain area, which will greatly increase its price. An East coast dealer may already have a truck that's scheduled to deliver a ton of cars from the CA auction, so that its incremental delivery cost of an extra car would be negligible vs. an individual on the East coast who'd have to pay $1,000 to receive the car. Also remember that a whole bunch of cars at every auction do not get sold at all because they represent poor values primarily because their floor prices are too high. If you bid one of these cars without realizing it, you can easily end up paying more than retail.
Most people who have never bought from a dealer auction have this misconception that every car there represents a deal vs. its retail counterpart. The reality is quite often very different.
Also remember that dealers don't care about a car's mechanical condition, as they won't be the ones driving it and don't care how reliable it'll end up being. To a dealer, the question is how much money they'll have to spend in cosmetic reconditioning costs (this can include mechanical reconditioning but only to the extent that they have to, to address apparent mechanical deficiencies, such as an oil change that's badly overdue or worn out brake pads, etc...) vs. how much they can get for it on the retail market. Hence, the reason that a lot of dealers like buying average and below average units, as they can often maximize their profit on them by cheaply cleaning them up to remove evidence of past neglect and abuse and selling up as premier cars.
An individual buying it from Manheim will have different priorities and considerations, which is the reason that there are often fairly significant discrepancies in how much an individual might be willing to pay for a particular Manheim unit vs. a dealer. As I mentioned above, in many cases, because of the issues that I mentioned in this and my preceding post, a dealer will be willing to pay more for a car than an individual.
In other words, if I am buying a car for myself and see a Manheim unit with an oil change that was last completed 25K miles ago, I'd never buy it or would require an enormous discount. To a dealer, this car looks great, as they can spend $5 (their cost) to complete an oil change and the next buyer will never be able to tell that the prior owner just didn't feel like doing oil changes (this will be true even if the next buyer brings in the best mechanic on the planet to inspect the car).
The auction market is a disposal of last resort for a car dealer. With the supply of vehicles being a bit tight and prices higher the dealers tend to keep the better grade cars that in the past they would have auctioned off. So I would expect the supply of above average cars (excepting common fleet/lease vehicles) to be a bit sparse.
My LR3 was sent to auction because my dealer had 3 other Land Rovers already, and mine was in about as perfect a condition as it gets with good tires and only 2 minor dings. (it was still under extended MFG warranty as well) My last three used vehicles (and my current new one) were bought through a lease return company that publicly lists all their inventory for a few weeks before sending the vehicles to auction. They list at high auction, but if you haggle they will drop down quite a bit but not below LOW auction.
Their cheap cars (sub 9K) sell VERY fast, in most cases I suspect before they are even listed -- but they list them and mark them sold anyway....
RedWolfe01 said: The auction market is a disposal of last resort for a car dealer.Yes, except for lease returns, which do not belong to the dealer in the first place. Lease returns are typically owned by the manufacturer, so if a dealer wants it, it has to purchase it from the manufacturer which may or may not be willing to offer it a deal.
When it comes to auction buying, there are a ton of advantages to purchasing directly from the manufacturer as opposed to a dealer. The primary advantage is that manufacturers do not try to conceal/mask evidence of past use and abuse and show all the vehicles the way that they receive them (in some cases manufacturers do proactively address certain things, such as tire replacements, PDR, etc... all of which are then displayed in auction reports, so there's complete transparency). Dealers, on the other hand, typically list units that have been cleaned up and detailed, which, even with an auction inspection process, makes it much more difficult to determine how well the vehicle was treated by its previous owner.
My last three used vehicles (and my current new one) were bought through a lease return company that publicly lists all their inventory for a few weeks before sending the vehicles to auction. They list at high auction, but if you haggle they will drop down quite a bit but not below LOW auction.The disadvantage here is that those vehicles don't have the benefit of an independent inspection by highly trained Manheim inspectors. Hence, it can be difficult to determine their condition.
geo123 said: The disadvantage here is that those vehicles don't have the benefit of an independent inspection by highly trained Manheim inspectors. Hence, it can be difficult to determine their condition.
Actually since the inventory is local its not hard at all to get a third party inspection, never felt I needed to do it though. (I have never caught this particular lease agency in a lie about condition, they do too much repeat business)
At least in their case they have an agreement with the banks to handle disposal, bit different since they only do bank leases and not dealer/manufacturer leases. In most cases they have lower residual values so that it makes no economic sense to let the vehicle go back to the bank anyway. Lease agency uses that to build equity to try to get you to do serial leases throgh them. (probably not going to take a lease again, however, depends on what I am doing work-wise at the time)
Its a nice vehicle but it definitely cost too much by the time it was all said and done -- and I don't mean the MSRP...
geo123 said: For the week ending February 16, for the Malibu's in an "above average" condition the price was $16,470 with 31,115 miles, $12,665 with 62,229 miles and "average" condition and $8,860 with 93,344 miles for "below average" condition. Manheim is showing that 20 of them were sold. I apologize for stepping into your conversation but I have a question about the prices. $16.5K for a 2008 Malibu LTZ with 31K miles? Is that right? According to Edmunds the private party value should be less than $14K and the dealer price around $15K. Is Edmunds totally off-base? I don't have a lot of experience with Manheim but I bought my previous car from them via a dealer. The price was around what Edmunds quoted for trade-in but after taxes, shipping and dealer's fee came up to the private party value. I'd never expect to pay at the auction what Edmunds is quoting for a certified used at a dealer. What am I missing?
RedWolfe01 said: My last three used vehicles (and my current new one) were bought through a lease return company that publicly lists all their inventory for a few weeks before sending the vehicles to auction. They list at high auction, but if you haggle they will drop down quite a bit but not below LOW auction. Their cheap cars (sub 9K) sell VERY fast, in most cases I suspect before they are even listed -- but they list them and mark them sold anyway....
I find this works better than a buyer.. Could you share any details about this company and how to access their listings?
Yoksel said: geo123 said: For the week ending February 16, for the Malibu's in an "above average" condition the price was $16,470 with 31,115 miles, $12,665 with 62,229 miles and "average" condition and $8,860 with 93,344 miles for "below average" condition. Manheim is showing that 20 of them were sold. I apologize for stepping into your conversation but I have a question about the prices. $16.5K for a 2008 Malibu LTZ with 31K miles? Is that right? According to Edmunds the private party value should be less than $14K and the dealer price around $15K. Is Edmunds totally off-base? I don't have a lot of experience with Manheim but I bought my previous car from them via a dealer. The price was around what Edmunds quoted for trade-in but after taxes, shipping and dealer's fee came up to the private party value. I'd never expect to pay at the auction what Edmunds is quoting for a certified used at a dealer. What am I missing?
Going back into Manheim, there was the same Malibu LTZ sold for $16,4 in Nevada. Only had 16k miles and so around a thousand under KBB (I'm assuming it's in great condition since Manheim has it listed as "Above Average"). The numbers we're quoting here we don't get the exact list of options. For all I know, this specific car could be signed by Lady Gaga, include nude photos of her in the trunk and have seats made out of leopard skin. (Oh, and is riding on 24" rims).
mwa423 said: Going back into Manheim, there was the same Malibu LTZ sold for $16,4 in Nevada. Only had 16k miles and so around a thousand under KBB (I'm assuming it's in great condition since Manheim has it listed as "Above Average"). The numbers we're quoting here we don't get the exact list of options. For all I know, this specific car could be signed by Lady Gaga, include nude photos of her in the trunk and have seats made out of leopard skin. (Oh, and is riding on 24" rims). According to Edmunds, there's not a huge list of options for this car. The condition could vary of course.
Yoksel said: RedWolfe01 said: My last three used vehicles (and my current new one) were bought through a lease return company that publicly lists all their inventory for a few weeks before sending the vehicles to auction. They list at high auction, but if you haggle they will drop down quite a bit but not below LOW auction. Their cheap cars (sub 9K) sell VERY fast, in most cases I suspect before they are even listed -- but they list them and mark them sold anyway....
I find this works better than a buyer.. Could you share any details about this company and how to access their listings?
2nd that.
I found a site claiming to specialize in off lease cars that had good prices, but they almost seemed a little too good. A site someone could vouch for would be cool to check out.
Dear Good Citizens, I wanna treat myself with a new car, 2004 VW R32. For me its new, 40k to 60k miles on, one to two owner.Can somebody check this for me?
iam going to auto auctions at manheim 3 times a week, last two weeks prices are going crazy high and its going to be worse . but if u know what u doing auction is the best place to get a deal
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