how much money could you save if you buy a car at a auto auction instead of from like a private seller. ex. a 2004 grand prix for like 10,000$ starting price form a seller, how much do you think you would get it for at a auction?
Depends on alot of factors, like mileage, body condition and overall condition, is it an auction of police seizures, or is it a repo/impound yard auction? Are the general public allowed at the auction, or must you have a wholesaler license? At auction, it might go for 6000-7000.
June 21st, 2009 at 9:22 am
its hard to tell sometimes cars go for well over the high blue book price and sometimes you can pick cars up dirt cheap it all depends what kind of car it is and how many people are bidding on it
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June 21st, 2009 at 10:10 am
You may not be able to save anything. People who buy at auctions know the value of cars. They are usually from used car sales lots. You can find out the trade in or wholesale value by going to http://www.edmunds.com and doing a valuation. Do it before making any offers. At auctions, you have to buy the vehicle as is. If the car won't start after you buy it, you will have to tow it off the lot.
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Retired claims adjuster.
June 21st, 2009 at 10:31 am
it's a risk you must take. i got a KILLER deal at the auction it was a 86 Benz 190 e for about $500.00 cash it ran like a champ !
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June 21st, 2009 at 11:02 am
Depends on alot of factors, like mileage, body condition and overall condition, is it an auction of police seizures, or is it a repo/impound yard auction? Are the general public allowed at the auction, or must you have a wholesaler license? At auction, it might go for 6000-7000.
References :