Worth to pay for Auction Access?


#41

Forgot to mention the down fall from auctions. Only came with one key fob and no mats. I ordered a key fob on ebay and bought mats at Walmart. Have to drive up to Santa Barbara on Sunday to drop off at her house (she was visiting Fremont for a week when the accident happened).

BTW the closest V6 Santa Fe three row in SOCAL for sale was over 25K less taxes. So broker auctions can pay off if you know what your doing (I don’t but the guy I contacted did or his Dad because he is the one who pulled the trigger).


#42

I looked at 2017 Santa Fe’s for a friend last year. I read literally dozens of carfaxes and they were all former rentals. 20-30+ K miles and no records of oil changes or any kind of scheduled maintenance. Hope yours is different.

And that $25k number is dubious. They were starting at 19k for CPOs a year ago on the east coast.


#43

I was talking after taxes and in SOCAL not East Coast in which they are cheaper since they were rentals.


#44

BTW in SOCAL (San Diego) the dealerships I contacted will NOT include rentals as a CPO because of the miles. I contacted only five of the maybe 10 in the local area. So if you can find one in SOCAL please forward for future friends. I did find a pretty decent deal on a used Kona at a dealership under 20K.


#45

Thank you for your comment. I hear you. However, I do not agree with your comment about sonata:

The car that you are referring for under $13K from FL here has an accident in its car fax report. A good sonata in this list that is off lease and don’t have accident or high milage is on sale for $14.6. The MMR for the same car is $12.5:

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=489757061&zip=07004&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D07004%26startYear%3D2016%26sortBy%3DderivedpriceASC%26incremental%3Dall%26firstRecord%3D0%26endYear%3D2016%26modelCodeList%3DSONATA%26makeCodeList%3DHYUND%26searchRadius%3D0%26trimCodeList%3DSONATA%7CSport&startYear=2016&numRecords=25&firstRecord=0&endYear=2016&modelCodeList=SONATA&makeCodeList=HYUND&searchRadius=0&makeCode1=HYUND&modelCode1=SONATA


#46

To the OP, I am involved in a dealer program out of TX. For a monthly fee, I am a liscensed dealer buyer under their dealership and have access to any dealer auction. I even have a dealer plate. I live in MI. I use the liscense to flip cars on the side and make money. I just started it last month. I went to a dealer auction in Toledo OH and purchased a fully loaded Jetta GLI Turbo. Leather, sunroof, DSG trans, loaded. The car books for 9K. I got it for $4000. I hope to make some cash off it.

I’m not gonna do this licensing program very long. I’m finding out that it can be kinda time consuming going to auctions and stuff, as I have a full time job as well. Probably one or two more flips and I’m out. I did see 45K Mile Tesla’s selling for 32K. Mercedes and German cars go pretty cheap as well. My dad wants a used Model S Tesla. If we pick one up next time, I’ll post back.

Good luck!


#47

Thanks for sharing your experience. Would you please let us know how much they charge to give you access? Do they request your SSN too? Can your place a proxy bid online?


#48

Just one guy’s opinion…you’re playing with Fire if you don’t look at and touch the car you’re bidding on. I’d think long and hard about placing a proxy bid on a car you may own and have no recourse on should it have been neglected by the previous owner. As someone else mentioned, warranty will deny claims if neglect is found, if the warranty still exists.


#49

I hear you. Thanks for your warning. However, I am in the same boat even if I want to buy from private party. I am not an expert and can’t tell what is wrong with the car. The Manheim report (posted above) is my only recourse that I should trust. Is it perfect? No. But it is better than my judgment as a person that is not expert.

I guess what you are suggesting is to pay $4-$5k extra and buy Certified PreOwn. That is the only way in my opinion that some one likr me can buy risk free and can trust.

Yes, i am risking here to buy a off-lease car from Bank directly. There could be something wrong with car that the dealer didn’t buy the car in the first place and send it to auction. However, the dealer might have a lot of similar car sitting in the lot and don’t want more.

All I can do is to check if the car received regular maintenance during last two/theee years. Keep in mind that maintaining the new car for the first two years is almost free these days.

I can also check and see if the previous owner finished the lease at 24/36 months or earlier? The early termination of lease means something went wrong in the car or the guy leasing the car and I should stay away from it.

To summerize, does it worth for me to get auction access for a single transaction? No

Does it worth for me to buy off lease car from auction using a third party dealer with careful checking of the car history? I think yes


#50

At most dealer auctions, you can pay 2-300 bucks for a service that will give you a complete checkup of the car including a test drive by a 3rd party and many pictures.


#51

Yes my S.S. Number as well as many other vital info was needed to fill out all the paperwork. I had to fill out many forms but the large dealership I buy through has a stellar reputation. It costs $300-$400 a month to participate in the program. You can attend any dealer auction in the U.S and bid online anywhere you want.

I’m trying this service because my dad owned a dealership that I worked at when I was 18. He later sold it. Ever since, we have wanted to open another. I’m 37 now, so I thought I would try this program and test the waters before we open another dealership ourselves. It’s more of a personal experiment than anything else.


#52

Which program/dealership do you go through if you don’t mind me asking?


#53

Wise decision. Hope the best for you


#54

How about dealshield that let you return the car after purchase? Do you know how much it costs?


#55

What? You can buy from a private party who has records of all maintenance done on time, thus keeping your warranty intact. You can have a mechanic inspect the car including putting it on a lift, which is something the mobile ‘3rd party’ inspectors don’t do AFAIK.


#56

You can even check the trunk for dead bodies.


#57

So far I have purchased a few cheap cars from a dealer auction in Toledo OH. I’m going to a Detroit auction next.

Saturn SL2 Sedan with only 65K miles = $800

  • My winning bid was actually $400! But the selling dealer wanted $800. Asshat.

2010 Jetta GLI Turbo w/DSG 100K Miles fully loaded = $3K

Chevy Aveo with 60K miles = $1300

Lexus IS250 = $5900

I’m looking to replace my showroom mint 1996 Impala SS that I totaled last year or a 96-99 2-Door Tahoe/Yukon so I can cam and slam it on some Irocs. Everything else I’m flipping. My nephew took the Jetta. My sister purchased it yesterday for him. I hear Vegas has many 2-Door Tahoe’s so I may try an auction there and ship it home.


#58

Totally off topic but great score on the Saturn. I have a soft spot for those weird/obscure low mileage pre-2000 cars, doesn’t matter which make or model. I get why old folks get the warm and fuzzies about seeing cars of their youth, driving one feels as close as you can get to a time machine.


#59

Shipping charge really kills the deal.


#60

Just remember, you can’t polish a :poop: