What's up with cars sold at auction houses?

[bradleyheathhays]

So what IS up with these vehicles? How do they get there? Are they rejects somehow from other lots?

I have a friend who can let me buy one through a local auction plus $100 so not a bad deal considering I'd be getting thousands off.

Are these vehicles worth looking into or should just I stay away altogether?

 

[CruleNIGHTWING]

Sometimes. It really depends on the auction. Sometimes they are repoed other times they are from charities. Just keep in mind it might not be perfect, but for the money you can't beat it most of the time

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[98Chero]

I think half of the vehicles are repos and the other half are from car lot trade-ins. They might have high mileage or some kinda problem a dealer dosnt want to spend the money on. Its been a long time sense I have bought from a auction, I cruise small car lots for stuff they bought at auctions and they found out later it needs XYandZ. Like my lateast purchase on an 02 Grand that some of the windows didnt work, steering shook after hitting a bump in the road and some engine lifter noise etc... I got it cheap and have fixed most of the troubles with little or no money out of pocket. Good Luck I hope your a Mechanic.

 

[mark sr]

Often a new car dealer will take an older car in trade that is too old or whatever to be put on their used car lot so they ship it off to the auction.

 

[xt master]

Buyer beware at auctions. Do your home work on the vehicle and it helps if you have unlimited car fax to check the vehicle. Most are repos and new dealer trade ins. Most new dealers will not try and resell anything older than 7 years because most places will not give a loan on a vehicle that is older than 7 years. It can be very profitable if you know what your looking at and if your handy.

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[TerryMason]

These are cars that dealers can't (it won't pass inspection or would take too much to repair), or won't (to old / junky for their lot) sell.

I've bought more than 10 cars from auctions. It's VERY easy to get caught up and bid more than you wanted to.

Some tips:
-bring a cheap code reader with you (i have a bluetooth that pairs with my phone for $15), and when you find a car you want (before the auction, during the preview), hook it up and pull the codes.
-decide what you will pay for that car before it rolls into the auction, and don't go over that.
-don't forget tax / title / tags and other fees that you'll pay on top of the purchase price.
-if this is a dealer auction then you'll be expected to have your own plates / insurance before you can drive home (assuming it's road worthy).

 

[superj]

I used to buy cars from the auctions in nc. anyone can go to them in that state so it was a cheap easy way to get a car. texas requires you to have a dealer's license to buy from an auto auction so I can't go. as long as you are a decent mechanic, you can usually get a heck of a deal from an auction, just check the car over so you know what you are getting into

 

[Jeepergeo]

Most new car dealers that take trades will push the older trades to an auction house so they don't use lot space for low profit cars.

Deals are out there, but it is buyer beware as there is no warranty. Most auctions may start the car, but few will allow one to drive it before bidding. Also, beware of the buyer premium at some auction houses as the premium is on top of the bid price.

 

[superj]

yup. the buyer's premium at the local police auction is 10%. our auction is tomorrow. I am going to watch to see what they go for. the ccpd auto auction is open to anyone and they have some nice little Toyota pick ups for sale. this auction actually puts runs and has keys and little things like that on the vehicle so you know where you are starting sometimes.

 

[SteveMann]

In a month or two, there will be a lot of late-model cars on auction sites. If the auctioneer is honest, they will tell you that it is a refurbished car from the Texas floods.

 

[xt master]

In a month or two, there will be a lot of late-model cars on auction sites. If the auctioneer is honest, they will tell you that it is a refurbished car from the Texas floods.

Yep seen the same thing after hurricane Sandy


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