Anyone ever been to a wholesale auto auction?

[Mursilis]

As title says, anyone ever been to one of those dealer-only wholesale auctions for used cars? I'm curious about what recent model used cars go for there vs. retail.

 

[Arkaign]

I've tagged along to a few in Texas. Lots of great deals, but it really helps to go with a regular attendee who knows the sellers and what to look for. Back when Suburbans were more popular (circa '99-'00), I remember going with a guy who would buy them for $15k-$20k, and then selling them for $20-$25k easily, while still undercutting other dealer retail.

 

[CptCrunch]

I've ALWAYS wanted to go to the dealer auctions, but I could never find any information on ones in my area. Should be a good experience and a way to get cars for very cheap.

 

[woodie1]

I went to one in Orlando once. It was a real eye opener. Dealers don't make anything on new cars now with the internet giving out invoice prices but they make a killing on the used cars.

 

[Vette73]

Originally posted by: CptCrunch
I've ALWAYS wanted to go to the dealer auctions, but I could never find any information on ones in my area. Should be a good experience and a way to get cars for very cheap.

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

My sister in-law got her 04 A4 quattro cabriolet at auction as well. The first time the prices went way to high, esp since some were bad looking. The 2nd time she got her car. It has needed some work, its an audi, but decent so far. I think she paid in the low 20's.

But some cars went close to retail and/or they did not go high enough so they did not sell. So even if you "win" the person selling can say no sale and the car moves out and thats all. I saw just about every car you can think of and on high end day they had the lamborghinis, ferraris, and so forth.

When you go you can;t be to picky as the car you really like will be last in the auction and you pass up other cars that go much cheaper and sell.

If anybody is in N.VA, DC, Maryland, or PA I can give you the guys contact info if you are looking for a car. Has to be paid in full when you get it so no playing around.

 

[onemo]

Originally posted by: Marlin1975

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

Can confirm that it's not a substantial savings. Just got an 06 Ridgline RTL for $15k a couple of months ago. Just off of Honda lease. Local dealers wanted $20k or so. So I only saved a few thousand but I didn't have to go to the auction, I just told my guy what I wanted to pay, and after a month or so he found one, showed me pics, and then secured it when I gave the OK. Looks like most cars have a minimum buying price and if you meet it they can pull it off the block before it even gets to the auction.

 

[zoiks]

I bought my car from the county auction here in the bay area. The price wasn't all that great when you factor in the 10% auction fee. But it was still worth it in a way.

 

[MiataNC]

If you can get into a closed industry/dealer auction, you can usually get a good deal.

Anything open to the public will result in idiots catching auction fever and bidding up to high blue book and beyond. Think "ebay effect".

 

[MixMasterTang]

Chances are you are going to get around KBB Trade in Value or slightly below on some cars at the auction.

 

[woodie1]

Originally posted by: onemo

Originally posted by: Marlin1975

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

Can confirm that it's not a substantial savings. Just got an 06 Ridgline RTL for $15k a couple of months ago. Just off of Honda lease. Local dealers wanted $20k or so. So I only saved a few thousand but I didn't have to go to the auction, I just told my guy what I wanted to pay, and after a month or so he found one, showed me pics, and then secured it when I gave the OK. Looks like most cars have a minimum buying price and if you meet it they can pull it off the block before it even gets to the auction.

A $5K savings isn't substantial? Christ almightly, that was 25% off your retail of $20K.

 

[dsity]

Originally posted by: woodie1

Originally posted by: onemo

Originally posted by: Marlin1975

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

Can confirm that it's not a substantial savings. Just got an 06 Ridgline RTL for $15k a couple of months ago. Just off of Honda lease. Local dealers wanted $20k or so. So I only saved a few thousand but I didn't have to go to the auction, I just told my guy what I wanted to pay, and after a month or so he found one, showed me pics, and then secured it when I gave the OK. Looks like most cars have a minimum buying price and if you meet it they can pull it off the block before it even gets to the auction.

A $5K savings isn't substantial? Christ almightly, that was 25% off your retail of $20K.

Agreed

Dang, you must be ballin' if a few thousand is not substantial.

 

[SearchMaster]

My dad used to work at a private auction and he said the deals were usually very good. I bought a Mazda6 wagon through him for about $4K below what I was seeing on dealer lots.

 

[SearchMaster]

Originally posted by: dsity

Originally posted by: woodie1

Originally posted by: onemo

Originally posted by: Marlin1975

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

Can confirm that it's not a substantial savings. Just got an 06 Ridgline RTL for $15k a couple of months ago. Just off of Honda lease. Local dealers wanted $20k or so. So I only saved a few thousand but I didn't have to go to the auction, I just told my guy what I wanted to pay, and after a month or so he found one, showed me pics, and then secured it when I gave the OK. Looks like most cars have a minimum buying price and if you meet it they can pull it off the block before it even gets to the auction.

A $5K savings isn't substantial? Christ almightly, that was 25% off your retail of $20K.

Agreed

Dang, you must be ballin' if a few thousand is not substantial.

I interpreted his post to mean that he was able to get auction prices without having to go to the auction, so the savings can be had without going that route.

 

[onemo]

Originally posted by: SearchMaster

Originally posted by: dsity

Originally posted by: woodie1

Originally posted by: onemo

Originally posted by: Marlin1975

Don;t bet on "really cheap" on some.
I bought my 04 CTS early this year for about $15,XXX price. That inculded the auction fee and the % fee from the person that let me go with him. My car had less then 25k on it and was just out of warranty. Most dealers at the time were asking high teen to low 20's.

Can confirm that it's not a substantial savings. Just got an 06 Ridgline RTL for $15k a couple of months ago. Just off of Honda lease. Local dealers wanted $20k or so. So I only saved a few thousand but I didn't have to go to the auction, I just told my guy what I wanted to pay, and after a month or so he found one, showed me pics, and then secured it when I gave the OK. Looks like most cars have a minimum buying price and if you meet it they can pull it off the block before it even gets to the auction.

A $5K savings isn't substantial? Christ almightly, that was 25% off your retail of $20K.

Agreed

Dang, you must be ballin' if a few thousand is not substantial.

I interpreted his post to mean that he was able to get auction prices without having to go to the auction, so the savings can be had without going that route.

Yup spot on, but to be honest I thought I would save even more. Considering the price for gas at the time was at it's highest and I thought the market would be down for trucks. If I managed to get it at this price without actively participating in a dealer only auction, I figure the dealers that actually get the cars are getting ridiculously good deals to stock their lots with. The guy that got the truck for me told me about a dealer who picked up a small fleet of 15 white 04 F150's from Coca Cola for around $2k apiece. So deals can be found if you are patient or not picky and have the cash.