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Anybody with experience in buying from dealer car auctions?

M

MaxDSP

Lifer
Do you really save a significant amount of money assuming you can get in on it? Are there any major risks with buying a car this way?

<----Tired of driving around looking at private party seller cars

EDIT: Some info on what I'm looking for might help:

Honda Accord or Toyota Camry, preferably 1998 and newer
Preferably a V6
mileage, anything around 50-60K is good
budget ~10-12K

Do I stand to save a significant amount of money for a car like this at a dealer auction?
 
I dont know about where you live but in Nebraska and Colorado when you have a dealers licience and go to these auctions you have 3 days warranty on the car purchased and can refuse the purchase anytime within these three days for any reason. Better than the warranty that they give at a used car lot.

Bleep
 
I live around near Chicago, and I really don't know much about these kinda auctions. I'm kind of wary of them because of the craptastic car I (meaning my dad) got from a public auto auction.
 
You need a dealer's license, or else a licenced dealer must serve as an auto broker for you. I have no idea what their fees would be.

I figure you assume the same risk as anyone else would buying a car without test driving it. I'm pretty sure they let a bidder visually inspect the vehicle, and even start it up and listen to it run, but they can't drive it.
 
You have to remember, when dealers auction cars off, whether via the public or dealer auctions, the cars are the ones that they, those dealers, do not want to sell on their lots. This can be for a variety of reasons....too high mileage, too poor condition, too old, etc.

To go to dealer auctions, at least most I'm aware of, one must be licensed as a dealer which requires a dealer's license. Check your state for the requirements for becoming a licensed dealer. In VA, SC, FL, and GA (the states I am familiar with), they all require criminal background check, license fees of a few hundred dollars and a bond, usually $20K and up. (The bond is more like an insurance policy, you pay a bonding insurance company monthly premiums for the amount of bond the state requires.)
 
I wouldn't buy a car from a car auction just like I wouldn't buy a previous rental car. Most vehicles sold through auto auctions are previous rentals or fleet vehicles. You could get a decent one but it is more likely that you will get a car that has had spotty maintenance and/or been driven hard or even wrecked and repaired.
 
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