Used Car Auçtions

[ten ocho recon scout]

Toying with the idea of buying a new car, something nice without paying for a nice new car. Not in any rush to buy, might never pull the trigger and just stay with my old paid off hooptie until it dies.

Anyone have any experience with auctions? I see nice cars like bmws, lexus etc on an auction site that say starting bids are 2K. If i could get something cool for 10 or under id be stoked, but have never been to an auction and dont know what to expect.

[Brandon]

Had a friend that owned a towing company and got a car this way once. I had no issues with the car, but you don't know what you're getting. At the same time most of the cars there are salvaged, which isn't necessarily a bad thing, just registration, insurance, etc. is different.

You can find gems. A lot of used car dealerships get their cars this way. Now that I think about it, my first car was gained through a family friend that got me a great starter car for pretty cheap and it was great.

Expect to pay more though. The cars you listed go well above 15 and into the 20s. I think the one I got was 18k and then you have to pay tax to the dmv....hopefully they screw up the paperwork like they did for me and I didn't have to pay it.

[ten ocho recon scout]

Got it. So the prices arent really any different than buying a used car from a dealer really?

[Vegas Halo Fan]

A lot of used car dealerships get their cars this way.

 

Herein lies one of the main problems. For anything desirable you're going to be bidding against buyers from used car lots, which will drive the price up. Some auction services only allow representatives from auto resellers and don't allow the general public to bid.

 

Personally I would leave it alone. At least if you buy from a reputable dealer, you will get some kind of guarantee when you drive the car off the lot, someone will have checked the car out for major problems and if it's a total dud you won't be stuck.

[Blarg]

Why buy when you can just borrow from police impound?

[Redondo]

Herein lies one of the main problems. For anything desirable you're going to be bidding against buyers from used car lots, which will drive the price up. Some auction services only allow representatives from auto resellers and don't allow the general public to bid.

 

Personally I would leave it alone. At least if you buy from a reputable dealer, you will get some kind of guarantee when you drive the car off the lot, someone will have checked the car out for major problems and if it's a total dud you won't be stuck.

 

This.

 

Going to an auction is a crap shoot if you don't know what you are doing and still you can get a bad car. Some auctions have buy back programs but I believe it's only for dealer and they have to pay for it. Some cars like used Toyotas cost more at an auction than you can find private sale. So buying them and Hondas are very difficult because they are in demand due to reliability.

 

You can save 30% by buying salvage title. It's a car that has been totaled for some reason. You won't know what part of the car was written off and how well it was repaired. Also they are hard to sell as people are afraid of them.

[wopphil]

Toying with the idea of buying a new car, something nice without paying for a nice new car. Not in any rush to buy, might never pull the trigger and just stay with my old paid off hooptie until it dies.

Anyone have any experience with auctions? I see nice cars like bmws, lexus etc on an auction site that say starting bids are 2K. If i could get something cool for 10 or under id be stoked, but have never been to an auction and dont know what to expect.

I bought a nice Acura from a private seller once. It was definitely a lot more work than buying through a dealer, but I saved a ton of money. And since the seller had purchased the car certified, I got a good warranty. In hindsight, I would have gained nothing purchasing from a dealer (other than a higher payment).

[Vegas Halo Fan]

If you know what to look for, you can get good buys from private sellers. The car I drive to work every day was bought off Craigslist. I needed something at the time that I could pay cash for, I found a seller who was a second owner and had complete maintenance records, and he openly pointed out what needed fixing when I looked at the car. I have had the vehicle for almost two years and haven't had any repairs that I would call out of line for a car with this age and mileage.

[Brandon]

Got it. So the prices arent really any different than buying a used car from a dealer really?

No, you're still saving because you're cutting out that whole used dealer.

There was minor to no issues with my car, so it was a hot commodity when we were bidding. I think used the car was 25k, so I saved a ton. When bidding dealers and resellers will hit a point where their profit margins will narrow too much and they give up at some point. So you overpay with regards to auction pricing, but save way more than what you pay in the grand scheme of things.

I went with two solid mechanics and checked out the cars before bidding. I wouldn't do it again because of the risk and paperwork issues (I actually had my car impounded for a couple hours because when you get it you have legit paperwork but no license plate or dmv window sticker and cops think you're simply driving with no plate).

If you're looking for a commuter car or starter type car that you may have to possibly put money into it's not a bad idea, but I'd be leery trying to save 10k on a Lexus, etc.

[Tank]

I bought a sweet Ferrari off a 19 year old from Norco in 2008. He was in loans or something.

Best car I ever owned.

 

you should have held out for 3 porsches and a nice place a few blocks from the ocean.

[NJHalo]

Funny story: A friend of mine bought a nice Lexus from an auto auction, and drove it to a NJ Devils game in Newark that night. Arrives late to the game, so he parks on the street.

He ran into a couple of his co-workers at the game and brought them out to show off his new car.

Car is gone. Stolen.

The friends drive him to the local police station to fill out a report, and while they are inside, THEIR car gets stolen from the police station parking lot.

[LAAMike]

I find that CarGuru.com is a very useful site as they tell you how good of a deal that you are getting.

[mp170.6]

Has anyone ever obtained an oil sample test before purchasing a used car?  You fill a small container full of oil and mail it to a lab, sort of like a piss test.  They analyze it for about $25.  The results are great for diagnosing, or sometimes predicting, catastrophic engine problems. 

 

I probably wouldn't bother with a cheaper used car and a private seller I trust, but I'm leery about auto auctions and used car lots.  You never know if the car you like has a blown head gasket, for example. 

[Troll Daddy]

I'm been buying cars at auctions for years. The auctions I purchase from are dealer only.

My advise is to not buy from non dealer auctions unless you're a experienced buyer. Dealer auctions can be tricky too. Difference is a dealer can buy the car with a guarantee.

Do your homework and purchase from a reputable dealer or buy private party. Don't be afraid to pay a little more for a good car.

Caution: Beware of unreputable dealers who pose as private party sellers.

[Redondo]

Caution: Beware of unreputable dealers who pose as private party sellers.

 

This is important also. We have a couple of these kind of dealers who advertise in the paper or park cars in empty lots around town. They have a habit of using white shoe polish to put their number on the car so it's a tipoff. I live where there is no smog testing and these are known to bring smokers here from California to sell.

[ten ocho recon scout]

Pimp, am i mistaken or are you a car dealer? Amongst you4 close friends here at aw.com, any tips for us so we can rip off your competition?

[Vegas Halo Fan]

I find that CarGuru.com is a very useful site as they tell you how good of a deal that you are getting.

 

I used Car Guru on the last vehicle I bought, and they warned me off one deal in which the price was too high.

[Vegas Halo Fan]

This is important also. We have a couple of these kind of dealers who advertise in the paper or park cars in empty lots around town. They have a habit of using white shoe polish to put their number on the car so it's a tipoff. I live where there is no smog testing and these are known to bring smokers here from California to sell.

 

I wondered about something similar when a couple of times I came out to my car to find a note under the wiper from someone saying that they wanted to buy it.

[2002_halos_II]

Aren't repo'd cars the ones dealers and/or credit unions auction off?

[Troll Daddy]

Pimp, am i mistaken or are you a car dealer? Amongst you4 close friends here at aw.com, any tips for us so we can rip off your competition?

You're being generous at 4 close friends and yes I'm a dealer.

GL ripping off the dealers. Always run a history report and be extra careful buying out of state cars. Have the car checkout by a professional.

Don't get wrapped up on the dollars and cents if you're getting a fair price.

[ten ocho recon scout]

Skimming car guru, seems pretty helpful.

[Vegas Halo Fan]

Also watch low-end car lots in areas with lots of military personnel. A lot of those vehicles have been flogged by their owners, who have been transferred all over the country.