Advice in buying car from auctions

[R3ch]

Are there really good bargains there or should I just stick with auto trader?

Richard

 

[Patronfrey]

There are bargains to be had but you need to know the pros and cons of the car (s) you are interested in. If you know what you are doing, and are disciplined with your bidding, you can save loads.
I've bought from auctions cars that have needed some work, e.g. noisy camshaft, which have put off other bidders. Spent a couple of days putting them right and save a lot of money.
Easy to get your fingers burnt though!!! And careful that bidding frenzy doesn't take over.
Attend a few auctions first to get the feel of it before you go to bid yourself. Arrive early and take a real good look at what you're interested in, well before the auction starts.
Oh, and take cash with you.
Ron

 

[glojo]

Carrot Chomper and Janner are just a couple of folks that are worth listening to. Some folks say that auctions are a good place for selling cars!!! (I'll let you guess why) When buying at auction just remember 'smaller' car dealers frequent these places and you will be bidding against them. By definition they know the bargain s and will stop bidding once the profit margin gets too small. Thered are always bargains to be got and perhaps the bigger engined, less popular vehicles offer the biggest savings??

Good luck,
John

 

[television]

If you go to special auctions like the Bank of Scotland held by BCA where they sell off 40-60 cars at a time, then there are some very good buys to be had, these cars are not being traded, as are cars put there by dealers when over stocked, or with a iffi background.
The Banks cars are low milage on average, and are good buys. I saw some SL's recently but they did not have Distronic, so I did not buy.

You can view the cat on line

 

[Carrotchomper]

I think caveat emptor is very much the order of the day, just as it would be buying a car from someone on Autotrader. In general, when you go to an auction the cars to be wary of are very obvious. Look for the finance reposessions and the older trade-in cars and it quickly becomes apparent that many have led a hard life. However, if you buy at a sufficiently low price then it doesn't matter greatly what happens 6 months down the line.

I have now bought 7 cars from auction- Some of which for members of the family.

I have never gone too far wrong- Possibly the worst experience was a Nissan Primera that needed a new engine. However, that was partly the fault of the garage who tried to rectify an oil fault- And failed! So not entirely an "auction lemon" story- And I bought at an appropriate price so the net cost was not hugely over what I should have paid anyway...

Now I tend to go for the fleet disposal end. The great thing about these cars is that there is nothing sinister about them being there- They are simply 3-year old cars that need to be sold in the quickest and most cost-effective way. All will have FSH and will have been properly maintained, and quite often they have a good amount of MoT left.

The ones to look for are those that will fall outside the narrow band of interest for the trade. For instance, if you bid on an 80-100k car then it is unlikely the trade bidders will have interest- And if none of the public buyers want that model then you have zero competition=cheap price!

The three cardinal rules are, IMHO, as such-

Firstly, know who you are bidding against. If they are clearly a trader then they will bid to the point of unprofitability, and no higher- So you cannot go far wrong. If you are against a private buyer then be aware that the price may well go above a level that would constitute a "Bargain".

Secondly, know how much money you have to play with, and how much you can afford to lose. This way you will be prepared if unforseen faults develop with the car, and able to absorb these in any saving below retail you make.

Thirdly- Look first! Decide which cars you want to bid on, look over them in detail and decide a decent price to pay. Look at eveything you can, and listen when they start up- Check for any warning lights...

Hope this helps.

Sam the auction monkey

 

[R3ch]

Thanks for the useful tips. Actually I've been to the auction place and now keeping an eye on one of their car to be auctioned which is the 2001 Lexus IS200 SE auto. The mileage is a bit high being 112000 but the bodywork is in good condition without rust but with a minor scratch on the rear bumper. Cars of this age and mileage sell between 4.5k to 5.5k on the autotrader so will try to bid if the bidding is much lower. Anything I should be concerned about on this model considering that mileage?

 

[Patronfrey]

Why not check on the Lexus forum?

 

[Spinal]

Another bit of advice is to bring a friend along with you. Its amazing how much the fact that you "want" the vehicle makes you stop thinking! An impartial friend who will know when to put the brakes on is always a good idea imo!

 

[R3ch]

Thanks for all the replies. I got the car that I wanted. Never seen the engine nor test driven it so it was a big gamble, just llistened to the engine running while it was going to the auction hall and checked the dash for any fault. Also asked one of the trader there for the maximum amount that I could go for. The car has got 112k miles but in mint condition and with full Lexus service history. Drives much better than my W202 sport and best of all, no rust.

Though I'm not a Merc owner anymore, I'll still be here most of the time. Best forum and helpful people here.

 

[Carrotchomper]

Go on, how much! Do tell.

 

[Patronfrey]

Don't think he's going to let on. Perhaps he got bidding frenzy! Gets the pulse racing too. Good fun though - as long as the end result is good.

Perhaps R3ch, you'll feed back in a month's time and reflect on your purchase?

Ron