Auction question.

[ChipChop]

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.

How much would a dealer pay at auction? How long is a piece of string. Historically demand is high at this time of year. New year new start etc.
Probably best just to ask Lex the direct question how much they would take for the van. Bon chance!

 

[Darrell]

True.

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.

That’s what I’m hoping although from what I understand is that my employer just kept paying the monthlies rather than get a replacement hence the age.
Also, the firm went into administration.

 

[st13phil]

That’s what I’m hoping although from what I understand is that my employer just kept paying the monthlies rather than get a replacement hence the age.

I doubt that will have any bearing on the matter, but...

Also, the firm went into administration.

This might in that it possibly complicates who you will have to deal with. My experience was that it was the lessee (i.e. the employer) who had to request a purchase price from the lease company, although that may just have been a local admin matter. That said, contacting the lease company directly in the first instance is a logical approach. Do you have any dealings / contact with the Business Administrators if it came to having to address it through them?

 

[Darrell]

Quick update.
Spoke to somebody at Lex today and they need the exact mileage in order to give me a figure (she called it a market price)

I asked her if she wanted any other details of the van to help towards getting said price. She told me that it didn’t matter because the market price was all down to the mileage.

I told her that I’d only be willing to pay the equivalent price that a van with the same mileage in the same condition with no MOT would fetch at auction and NOT on a forecourt.
She moaned about me trying to get the van for as cheap a price as possible!!

I think I’m dealing with a retard.

 

[MrGreedy]

I think it's fair to consider trade price, trade consumer rights.
Forecourt price, forecourt public consumer rights.

I wonder how this is dealt with by Lex in selling to the lessee or similar.
Given the potential issue around forecourt consumer rights, I could imagine the auction route provides a near zero risk appeal, even if doesn't maximise on potential selling price?

 

[Darrell]

I think it's fair to consider trade price, trade consumer rights.
Forecourt price, forecourt public consumer rights.

I wonder how this is dealt with by Lex in selling to the lessee or similar.
Given the potential issue around forecourt consumer rights, I could imagine the auction route provides a near zero risk appeal, even if doesn't maximise on potential selling price?

I’m willing to forgo my consumer rights. I’d just like to pay the same price that a dealer would pay at an auction. Selling it to me at that price makes it much much easier for them. A real zero hassle deal.

I really thought it would be simple but Lex appear to think otherwise and now you’ve mentioned consumer rights I might ask them about mine.

 

[MikeInWimbledon]

Quick update.
Spoke to somebody at Lex today and they need the exact mileage in order to give me a figure (she called it a market price)

I asked her if she wanted any other details of the van to help towards getting said price. She told me that it didn’t matter because the market price was all down to the mileage.

I told her that I’d only be willing to pay the equivalent price that a van with the same mileage in the same condition with no MOT would fetch at auction and NOT on a forecourt.
She moaned about me trying to get the van for as cheap a price as possible!!

I think I’m dealing with a retard.

She’s just someone who doesn’t care.

Her job is just to move it on with minimum hassle and disruption. She doesn’t have time for finesse. Sorry to be negative about it but she doesn’t care about overall condition etc.

Do establish your protections, but you’ll be knocking me over with a feather if they’re significant, and they won’t do anything as much as a dealer to prep, tidy and fettle for you. They fading have the time or resources.

Sorry !! But you do, at least know whether the thing is a lemon, which obviously it isn’t, unlike anyone else thinking of buying it “cold.”

 

[fabes]

As above having done just what you're trying to do, it's such a huge numbers game for them (hundreds a week) it will be with a presumed FSH, x van, y miles.

Nothing regards repaired damage, tyres condition, colour, options etc
It's a line on a large spreadsheet which they need to clear
You get one price, yes / no
No negotiation, and only a little time to make a decision as it's already enough route to the auction in their mind

In some respects, a refreshing approach.
PS I opted not to on my company car in the end, but only because at the time I had to agree not to flip it which is what I was going to do (was a T&C of our scheme option)

 

[Darrell]

As above having done just what you're trying to do, it's such a huge numbers game for them (hundreds a week) it will be with a presumed FSH, x van, y miles.

Nothing regards repaired damage, tyres condition, colour, options etc
It's a line on a large spreadsheet which they need to clear
You get one price, yes / no
No negotiation, and only a little time to make a decision as it's already enough route to the auction in their mind

In some respects, a refreshing approach.
PS I opted not to on my company car in the end, but only because at the time I had to agree not to flip it which is what I was going to do (was a T&C of our scheme option)

Second paragraph seems spot on tbh.

I’m not going to flip it.

 

[poormansporsche]

I actually "own" a Berlingo Multispace. It's the extended family ULEZ pool car van thingie.

I drove it once, nearly died pulling on the motorway it was dangerously slow.

They are the cheapest Euro 6s about and I know you know the van but I think I'd rather have absolutely anything else instead.

 

[Darrell]

I actually "own" a Berlingo Multispace. It's the extended family ULEZ pool car van thingie.

I drove it once, nearly died pulling on the motorway it was dangerously slow.

They are the cheapest Euro 6s about and I know you know the van but I think I'd rather have absolutely anything else instead.

It’s been a great tbh. Quite nippy and it’ll sit at 90mph without issues.

 

[poormansporsche]

It’s been a great tbh. Quite nippy and it’ll sit at 90mph without issues.

Cool. Must have a different spec engine to mine The Multispace is disabled pensioner spec though. The old man seems to like it though, seems to drive it more than his Range Rover lately. The Multispace only costs 30 quid to tax though whilst the identical van is 325 quid annoyingly. Still getting any euro 6 van for under 3 grand is a absolute result specially if you know if it's a good un

 

[Darrell]

Cool. Must have a different spec engine to mine The Multispace is disabled pensioner spec though. The old man seems to like it though, seems to drive it more than his Range Rover lately. The Multispace only costs 30 quid to tax though whilst the identical van is 325 quid annoyingly. Still getting any euro 6 van for under 3 grand is a absolute result specially if you know if it's a good un

I haven’t got it yet and they want blood. We shall see.

 

[MikeInWimbledon]

I haven’t got it yet and they want blood. We shall see.

Are you sure they’re ricing it ahead of what it’s really worth?

(Sorry, just got to ask the basic question)

 

[Darrell]

Are you sure they’re ricing it ahead of what it’s really worth?

(Sorry, just got to ask the basic question)

I don’t know what you mean.

 

[MikeInWimbledon]

I don’t know what you mean.

Apologies: early morning typo: Are you sure they're pricing it ahead of what it's really worth?

Used petrol vans are much in demand around London

 

[Darrell]

Apologies: early morning typo: Are you sure they're pricing it ahead of what it's really worth?

Used petrol vans are much in demand around London

It’s not a petrol van.

If they want say £5.500 (market value) I’ll refuse so it will be collected by a low-loader, stored until the next available auction and sold for around £2500-2750.

What can’t they let me have it for what it’ll make at auction?

 

[Will]

I guess if you’re confident with those figures, why don’t you buy it from the auction instead?

 

[MikeInWimbledon]

It’s not a petrol van.
If they want say £5.500 (market value) I’ll refuse so it will be collected by a low-loader, stored until the next available auction and sold for around £2500-2750.
What can’t they let me have it for what it’ll make at auction?

As discussed, they prefer the arms length nature of an auction. No come back for them. (And remember that they lose both seller's and effectively buyer's commission)
"If you asked nicely" would they tell you where and when it's going to be sold?

 

[Darrell]

I guess if you’re confident with those figures, why don’t you buy it from the auction instead?

The woman from Lex asked me the same question.
She said it’ll go to a BCA auction so why don’t I pop along and make a bid.
I told her that BCA Auctions are for Trade Account Holders only. She asked me what this meant.

Like I said in an earlier post, I think I’m dealing with a retard.