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The auction is the last resort when a car can not be sold normally. Wither it is salvage titles, high mileage cars. These are the cars used as trade ins that big dealer would not be caught dead trying to sell. Many of the buyers at auctions have the small 10 car sales lot.
Not necessarily true I worked for a short time at ADESA auctions in Manville, NJ. one of the largest auctions on the East coast.
Tons of low mileage rental cars go through the auction as well as dealers bring other brands that they take in trade.
Most of the attendees are dealers looking for same brand trade ins that they can sell easier than somebody else's brand.
New car dealers can make good money on auction cars.
I am sure there are small auction houses that cater to the used car lots
At Adesa we had 8-10 lines going at the same time so they sold a lot of cars.
That was 10 years ago they probably have 20 lines going now.
One thing not mentioned here is that most auctions require that you have a dealers licens just to attend an auction. Some auctions are open to the public, usually auctions that deal with company cars, i.e. city fleet vehicles, gas company fleet vehicles, etc.
As a fleet manager, I sold many cars at auction over the years. You usually get two hours to inspect the vehicles you may have an interest in. You can inspect it, start it, put it in gear, but cannot test drive it.
If you win a bid, you must have cash down and usually 24 hours to pay in full and remove the vehicle from the lot.
I would always write on the windschield of any problems so the buyer would be aware. Not everyone does. I would write "Bad Trans", or "Needs Brakes", etc...
But it's always BUYER BEWARE...!
Ok, you're on the right path and have some skills/ideas your average Joe off the street doesn't have. Good luck.
Thanks man. If I can't get a job as an auto tech I just need this as a side gig. I love repairing cars and making them run really good if not better. The feeling is addicting. Of course I would like to get money from it but its also a bonus just to able to get the parts and make the car run again. It sounds pathetic but repairing cars itself is very addicting. It makes you feel independent and good about yourself. The only thing that makes a better feeling is making cars go faster.
My life story is that I want to engineer cars. At first I liked them but the more I learned about them cars quickly became an obsession. It fascinates me how everything comes together. The aerodynamics, gear ratios, the electrical accesories, to the ignition process, different drivetrains and differentials etc. etc. There never seems to be no end on how much you can learn about cars. Cars are different from each other but similiar and yet again so different; it's fascinating.
It seems like the more you learn the more details become exposed. You learn the gas pedal really isn't a gas pedal at all. It's just a device used to open the throttle to let atmospheric air in on a naturally aspirated engine which is used to combust the fuel with a spark plug. But how does it do it? Well the engine creates a vaccum. Wait so what are the materials of the engine made out of...its goes on and on...
cars...can't live without them and you can't live without them....
One thing not mentioned here is that most auctions require that you have a dealers licens just to attend an auction. Some auctions are open to the public, usually auctions that deal with company cars, i.e. city fleet vehicles, gas company fleet vehicles, etc.
As a fleet manager, I sold many cars at auction over the years. You usually get two hours to inspect the vehicles you may have an interest in. You can inspect it, start it, put it in gear, but cannot test drive it.
If you win a bid, you must have cash down and usually 24 hours to pay in full and remove the vehicle from the lot.
I would always write on the windschield of any problems so the buyer would be aware. Not everyone does. I would write "Bad Trans", or "Needs Brakes", etc...
But it's always BUYER BEWARE...!
Not necessarily true I worked for a short time at ADESA auctions in Manville, NJ. one of the largest auctions on the East coast.
Tons of low mileage rental cars go through the auction as well as dealers bring other brands that they take in trade.
Most of the attendees are dealers looking for same brand trade ins that they can sell easier than somebody else's brand.
New car dealers can make good money on auction cars.
I am sure there are small auction houses that cater to the used car lots
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I am a fleet manager who sells my cars that are off-lease at Manheim or the ADESA auctions depending on their location.
First, in order to attend an auction, you have to have a dealers or wholesalers license. They are NOT open to the public. Occasionally, a person can be brought into the auction by a dealership but that does not occur much.
Second, at these auctions, sellers are REQUIRED to disclose major defects in the vehicle - frame damage, serious accident damage, transmission or engine failure and the like. At these auctions, dealers have a right to return within a very short time frame. And it is done.
In general, dealers buy cars that they can sell at a profit REGARDLESS of the brand. You are right that a dealer prefers used cars of his own brand BUT few will pass up a good condition Toyota Camry or Honda Accord as they move on any lot. (I had a friend who specialized in buying Ford Taurus vehicles with bad transmissions a few years back. He could buy them for next to nothing, rebuild the transmission and make a hefty margin.)
As for consumer auctions, they generally sell low quality cars. I have been to quite a few of them. You better be a real mechanic to ensure you are not getting a lemon. Remember that you CANNOT drive the vehicle before the sale.
Municipal auctions are a little better but you are buying fleet cars that are generally miled up and are in generally worn-out condition. Or you are buying retired police cruisers which are also pretty beaten up.
.....It sounds pathetic but repairing cars itself is very addicting. It makes you feel independent and good about yourself.
Yes, it does. As a rule I drive older "needy" vehicles that I've picked up cheaply and redone to bring them up to snuff. Some of the family think I'm nuts but I can't think of a better way to spend a weekend either fixing something up myself or a day at the u-pull-it finding the parts to do so.
Hey, don't forget estate auctions. Lots of times you'll be able to find something fairly cheaply, depends on the crowd and the weather.
I am a fleet manager who sells my cars that are off-lease at Manheim or the ADESA auctions depending on their location.
First, in order to attend an auction, you have to have a dealers or wholesalers license. They are NOT open to the public. Occasionally, a person can be brought into the auction by a dealership but that does not occur much.
Second, at these auctions, sellers are REQUIRED to disclose major defects in the vehicle - frame damage, serious accident damage, transmission or engine failure and the like. At these auctions, dealers have a right to return within a very short time frame. And it is done.
In general, dealers buy cars that they can sell at a profit REGARDLESS of the brand. You are right that a dealer prefers used cars of his own brand BUT few will pass up a good condition Toyota Camry or Honda Accord as they move on any lot. (I had a friend who specialized in buying Ford Taurus vehicles with bad transmissions a few years back. He could buy them for next to nothing, rebuild the transmission and make a hefty margin.)
As for consumer auctions, they generally sell low quality cars. I have been to quite a few of them. You better be a real mechanic to ensure you are not getting a lemon. Remember that you CANNOT drive the vehicle before the sale.
Municipal auctions are a little better but you are buying fleet cars that are generally miled up and are in generally worn-out condition. Or you are buying retired police cruisers which are also pretty beaten up.
Thats honestly the scariest part.
I guess it would be smarter to buy beat up cars from individuals and talk them down to a lower price then the auction. Test driving is everything. How can I tell if the synchros on the gear are worn or if the engine is slightly misfiring.
Yes, it does. As a rule I drive older "needy" vehicles that I've picked up cheaply and redone to bring them up to snuff. Some of the family think I'm nuts but I can't think of a better way to spend a weekend either fixing something up myself or a day at the u-pull-it finding the parts to do so.
Hey, don't forget estate auctions. Lots of times you'll be able to find something fairly cheaply, depends on the crowd and the weather.
thanks
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