Auto Auctions
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Fleet Mechanic
Joined: Nov 2004
Posts: 1,857
Likes: 5
From: Northern CA
Auto Auctions
Has anybody out there had any experience and/or advice to share on the subject of auto auctions? Specifically an online site called icarfinder dot com. Are they for real? I've also run across auctions that only dealers are allowed to buy from. What's the deal with "dealers only" auction?
Just want to know if it's worth the energy to chase this sort of purchase.
Thanks
gw
Just want to know if it's worth the energy to chase this sort of purchase.
Thanks
gw
Post Fiend
Joined: Feb 2003
Posts: 6,940
Likes: 2
From: Eastern WA
Dealer auctions mean just that and typically you must have a dealers license or demonstrate employment at the dealer/a capacity to buy for the dealer to get in. One little trick that used to work here was to go along with a dealer to the auction and tell them that you are the driver for the dealer. Now you get in the auction, pick a car/truck you want, and have your dealer buddy bid on it for you. There's deals to be had at auto auctions and there are roaches/turds being kicked around between the dealers at the auctions. Do your homework and shop/inspect/test drive carefully.
Postmaster
Joined: Nov 2004
Posts: 2,511
Likes: 0
From: Marion, VA
I've bought and sold cars at dealer only auctions as well as public auto auctions for the last 40 years. It is not for the faint of heart or for the person unwilling to take risks. The only auctions I consider real auctions are the in person kind. There are generally 3 ways (except for title attached sales) that a vehicle is sold. Cars are sold under the green light (car is represented as mechanically sound and you test drive it after the sale to confirm and if it is not and the repairs will cost more than a stated threshold, you can reject it). You can also buy under the yellow light (known defects are stated and you can turn it down if there are other problems after the test drive). If you buy a car under the red light, you are buying what you see. You buy it "as is".
At an auction, you have to be able to decide what you will pay, know what you are looking at and have the nerve to spend thousands of dollars in a minute or two. You also have to have the money available to pay for your purchase immediately.
At an auction, you have to be able to decide what you will pay, know what you are looking at and have the nerve to spend thousands of dollars in a minute or two. You also have to have the money available to pay for your purchase immediately.
Elder User
Joined: Jan 2004
Posts: 925
Likes: 0
From: northwest,sc
What osbork said!
Get there early and check out the cars that intrest you.
Set a limit on how much you are willing to pay, and there is a buyers fee you pay to the auction house.
Get your dealer friend to let you look at the last few months auction reports.
I have been to only 1 open to all auction and it was wild. The cars were going for outrageious prices.
I have a cousin that was a wholesale dealer and worked as a second job for him for 25 years.
Get there early and check out the cars that intrest you.
Set a limit on how much you are willing to pay, and there is a buyers fee you pay to the auction house.
Get your dealer friend to let you look at the last few months auction reports.
I have been to only 1 open to all auction and it was wild. The cars were going for outrageious prices.
I have a cousin that was a wholesale dealer and worked as a second job for him for 25 years.
Posting Guru
Joined: Feb 2006
Posts: 1,448
Likes: 1
Now is not a good time for buying from auto auctions without an experienced buyer to guide you. Thousands of damaged autos are now in the system from the hurricanes. I work on them daily getting them restored for re-sale. We deliver a quality, low cost auto, not a ripoffmobile. You can also purchase your own fixer-upper. But, there are many, many fast buck guys out there, so be very, very careful. jd
