Auction question.

[Darrell]

I’ve got to give my company van back very soon and it’ll probably be put in an auction by the lease company Lex Autolease.

Question is how much do they fetch?

It’s a 2016 Citroen Berlingo with 103,000 miles on it. Full Citroen SH thats up to date and it’s got 4 new tyres.
Condition is 7/10 and it’s signwritten and probably never been cleaned.
It runs brilliantly.

I’ve had a nose on eBay and dealers are knocking them out for around £5500.

 

[ToeKnee]

If you're looking to buy it for yourself couldn't you contact lex and ask their policy on that?

 

[Darrell]

If you're looking to buy it for yourself couldn't you contact lex and ask their policy on that?

That’s tomorrow’s job tbh. The other option is to ask if I can take over the lease.

I’m just trying to get acquainted with the way things work re the auctions.

 

[BTB 500]

Dunno what they go for but as a buyer there will likely be commission to pay on top of the hammer price.

 

[Will]

As said, contact LEX and they’ll give you a price to purchase.

I would be surprised if they’d be interested in extending the lease any further on a 2016 van with over 100k miles.

 

[Darrell]

As said, contact LEX and they’ll give you a price to purchase.

I would be surprised if they’d be interested in extending the lease any further on a 2016 van with over 100k miles.

This is what I’d like to do so I’m trying to find out what a dealer would roughly pay at auction so I’ve got something to go in with.

I thought about £2500 so then once they pay fees, spend a few quid tarting it up their outlay might total £3500 giving them a profit of £2000. I may (and probably am) be well out though with my man maths.

 

[zipdip]

Well it is 2016 so ULEZ exempt at auction a sign ed van with 104000 and untidy will make £2500 max,as suggested talk to Lex

 

[Trickythemerc]

Don't forget to include the VAT in your calculations

 

[MikeInWimbledon]

Don’t forget to include both Sellers commission AND your buyers commission.

You know that the van is good and what the minor issues are. Both Lex and any potential auction bidder have to assume that it might be a “lemon” and price it accordingly.

It’s not rocket science. It’s 2001 Nobel prize winning science: Understanding the Lemons Problem and How to Solve It.

 

[MikeInWimbledon]

Best guide to what a Lex auction range might be is to look at what previous Lex auctions have done. EBay, other auctions and other market places will be different

 

[alabbasi]

Check the guide price for trade on whatever publication publishes them. Back when i lived there, it was glasses I think

 

[Darrell]

Best guide to what a Lex auction range might be is to look at what previous Lex auctions have done. EBay, other auctions and other market places will be different

Been trying that but they keep their cards very close…..

 

[ioweddie]

stick the reg number into we buy any car.com That will give an idea of trade value

 

[Darrell]

stick the reg number into we buy any car.com That will give an idea of trade value

When you say trade value is that what they should pay or what they sell it for?

 

[Skd884]

Their purchase price.

 

[ChipChop]

I would say do not expect a bargain at a commercial vehicle auction. Also before paying the deposit (last one i entered required a £2000 deposit) to take part in the auction make sure you are fully aware of the fees as some charge a fair bit, all plus vat as well. It all adds up.

 

[ALFAitalia]

If you're looking to buy it for yourself couldn't you contact lex and ask their policy on that?

Depends what sort of lease he has.....on certain sorts its actually a legal requirement that its sold to a third party....not the leasee. If it a finance lease or a PCP he can buy it. Ordinary lease or contract hire...not usually.

 

[Darrell]

Depends what sort of lease he has.....on certain sorts its actually a legal requirement that its sold to a third party....not the leasee. If it a finance lease or a PCP he can buy it. Ordinary lease or contract hire...not usually.

I’ve no idea on the type of lease until I speak to Lex.

 

[Darrell]

I would say do not expect a bargain at a commercial vehicle auction. Also before paying the deposit (last one i entered required a £2000 deposit) to take part in the auction make sure you are fully aware of the fees as some charge a fair bit, all plus vat as well. It all adds up.

I’m not expecting anything.

The vans seem to go for around £5500 so my question was what would a dealer pay at auction for it. This will give me an idea of what to offer Lex.

 

[st13phil]

Depends what sort of lease he has.....on certain sorts its actually a legal requirement that its sold to a third party....not the leasee.

True.

I’ve no idea on the type of lease until I speak to Lex.

If the van is leased to your employer (not you personally) but you are "just" the regular user, then my experience with Lex-Autolease is that they would allow you or any other employee of the company they lease it to to purchase the vehicle at end of lease.