Ever purchase from an auction?

[CFRED70]

Have an auto auction nearby and I was reading that the public is allowed to attend for certain sales. Has anyone ever purchased from an auto auction? Are the deals worth the risk?

[Luster]

I have. If you're a dealer you know exactly what to look for. As a consumer who doesn't do this on a regular basis, it's pretty easy to get screwed.

 

You don't know the history of the vehicle. I've seen cars that looked excellent, but I was told not to bid on (by my dealer friend) because of certain things that he saw. He could identify flood cars, cars that had be tampered with, defective cars. Things I never would have looked for.

 

Unless you're going with an experienced dealer who you trust, it can be pretty risky.

 

There's a reason the cars are at auction. You could get lucky, but I wouldn't trust them.

[Havvkeye]

Sometimes. My previous truck was from auction and it was a very reliable truck. I did end up having to replace pads and rotors due to rust within a couple years but otherwise it was well worth the money saved. It also depends on other things, mine was a truck from a car rental company 40k miles and 1 year old. I kept it for 8 years and traded it in for only $2k less than I paid out the door for it.

[CFRED70]

Thanks for the reply. Yea it looked like most of the trucks that are there are rentals which I know can be an issue, but lots of trucks on this auction that were 2016 with less thank 15k miles and were going for very good prices....just wondered if its worth it. I figured most of the trucks on lots that are used probably came from auctions, so why not cut the dealer out and get better pricing. Risk/Reward

[dasimmon]

I have. If you're a dealer you know exactly what to look for. As a consumer who doesn't do this on a regular basis, it's pretty easy to get screwed.

 

You don't know the history of the vehicle. I've seen cars that looked excellent, but I was told not to bid on (by my dealer friend) because of certain things that he saw. He could identify flood cars, cars that had be tampered with, defective cars. Things I never would have looked for.

 

Unless you're going with an experienced dealer who you trust, it can be pretty risky.

 

There's a reason the cars are at auction. You could get lucky, but I wouldn't trust them.

great advise.

[Krusty]

.......... I figured most of the trucks on lots that are used probably came from auctions, so why not cut the dealer out and get better pricing. Risk/Reward

 

Helped my kid buy a 2003 Toyota Avalon from a used car dealer last month - they bought it from a new car dealer's trade-in's...... Really looked like a little old couple must have owned it. Did have a sticker on the timing belt cover saying when it was done last - other than that no history. It did need brake pads and rear rotors - slight chatter from rusting while from sitting waiting to sell 3 months in the Seattle rain.....

[CFRED70]

Thanks for the reply. Yea it looked like most of the trucks that are there are rentals which I know can be an issue, but lots of trucks on this auction that were 2016 with less thank 15k miles and were going for very good prices....just wondered if its worth it. I figured most of the trucks on lots that are used probably came from auctions, so why not cut the dealer out and get better pricing. Risk/Reward

[Luster]

Thanks for the reply. Yea it looked like most of the trucks that are there are rentals which I know can be an issue, but lots of trucks on this auction that were 2016 with less thank 15k miles and were going for very good prices....just wondered if its worth it. I figured most of the trucks on lots that are used probably came from auctions, so why not cut the dealer out and get better pricing. Risk/Reward

 

I've also seen dealers scan the VIN with an app on their phone, then submit it to CARFAX and check it out before bidding. That way they know for sure. A 2016 with less than 15k does sound pretty inviting. Just be sure to check for physical signs of abuse/damage.

 

You can tell a lot about a truck's history by looking at the undercarriage.

[Donstar]

I once bought a truck in a similar manner. It was a bank repossession with sealed bids. No test drive or going inside the vehicle. I was young and my risk tolerance was high. (I was desperate!) I was very fortunate and my gamble proved worth the risk. If you are fine with accepting the potential consequences then buying at an auction is fine. Do what you can to minimize the risks but be willing to accept the possibility of buying a money pit!

[barry G]

I'd do auctions, been around the block enough.

There is some dealers, they do very good. Most they know what they are getting, have the numbers in their heads to get it into a public safety.

profit margin before the sale even happened.

 

I took my own in when they drew the line at steel repairs...all else was well done, documented.

A dealer sale also has a cushion, real paperwork, like title, a credit option...

or sold as is etc etc.

 

I do ebay all the time. I found a very rare subaru engine that turned out to be a gem.

 

I even judge miles/mishaps by oxide colors. I was a quick lube man on 1500 vehicles.

 

if you were or are into mechanicals of it for some time, you know when you could do well at an auction.

I build engines, weld...

gm is a favorite. A lot of routines stay the same.

a glass half empty auction can do good for experienced who know better.

[Grumpy Bear]

Yep, bought a Scion iA last year with 123 miles on it. Damaged in transport. Bought it. Fixed it and traded it for my current truck making $2,000 in the deal. Trade allowance was that much over what I paid for the car. Should have kept it actually. It was a sweet one.