Car auctions - complete newbie

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p1tse wrote: »

thanks, this morning i was seriously considering it, but weighing up

- day off work
- cost of travel 200+ round trip
- if won the bid, would need delivery or go collect
- fees and traders pushing up the price on what i'm prepared for it to go and according to another source CAP clean and average price is what I was looking max, so if traders are hovering around this price and adding in the above, just not worth it

This is where I fall down. The cost of my time, travel and a potential fruitless day is just too much and can pressurise you to make a purchase you may regret later.

rodenal

Going 200 miles to auction is madness - I've lost count of the evenings i've spent going just 5 miles along the road and coming away with nothing despite full intentions of buying as the cars have been too expensive or issues that I couldn't possibly diagnose there and then to gauge repair costs.

If you travel such a long way to get there you'll feel much more pressured into buying something that's likely overpriced or worse potentially in seriously bad nick.

Try and get along to a few auctions relatively near you and get an idea of what these cars go for. Something to bear in mind is that, generally speaking any german motor goes for good money at auction unless it's something that wouldn't shift quickly at a dealer. You will still save on buying from a trader, but the difference might not be enough to make it worth the risk.

If you're buying a 3 year old 3 or 5 series that's coming direct from one of the finance companies there should be plenty of choice around for you.

jetta_wales

We went to one with my Dad once, was definitely an experience that's for sure. Not as scary as a property auction but a lot more mayhem and not really knowing what on earth was going on lol.

p1tse

well the car in question is more specific and don't see many of them.
ideally want a 535d touring sport, but none at this auction. noticed a 08plate 520d touring sport, but think that will reach high money and then saw a 335d touring sport 85k 56plate full and recent dealer service too, thinking it might go at good money, but swinging away from it now.

rodenal

There are plenty of 5 and 330d's going through at auction (up here anyway) and even more 520's, you shouldnt struggle to find one if you bide your time a bit.

3/535d will admitedly be a bit rarer - have you driven a 530 and a 535? the 530d still offers quite astounding performance for a diesel

harveybobbles

s_b wrote: »

yes but what if they cant get in touch with seller because reserve not met
buyer left good deposit
told to come back tomorrow

9 timeso ut of 10 it'll be a leasing company or finance company selling the car amd they always have a rep on the rostrum.

Wont be able to leave a deposit if it doesnt get to the reserve price.

bigjl

BCA Preston have an ex PLod 5 series estate, I think it is the 530d, but with 187k it will be cheap.

One of the biggest risks with buying at auction is focusing on one car and bidding till you end up paying more than it would cost at a dealer.

To be honest I wouldn't travel that distance for a 535d, but that is me.

As an example I have seen this at CarGiant http://www.cargiant.co.uk/BMW/535D/details-511603-BMW-535D.asp?viewtype=0 just over £15.5k.

But go for a 530d, with 25k more miles and you get this for just over £10.5k http://www.cargiant.co.uk/BMW/530D/details-495199-BMW-530D.asp?viewtype=0

You would need to be at least £1000 below these kind of prices including auction fees to make it worth the hastle.

The rarer the car and the more desirable the spec then the less likely it is to even go to auction.

For example CarGiant buy them direct from Lease Co's, they don't go to auction according to the people I have spoken to.

I have watched the transporters arrive and unload and never noticed any of the small stock stickers that an auction would use.

Consider this though, CarGiant had the 08 plate Ex Motability stock a month or so before they started to turn up at auction, and I have looked at the stock at Chelmsford, Manhiem and BCA over the last month or so, aswell as looked round the stuff at CG, the CG stuff is in better condition bodily than the stuff going through the auctions, I wouldn't be surprised if CG, Fords of Winsford and Motorpoint cherry pick the best stuff and then Motability gets rid of the leftovers at Auction.

harveybobbles

The selling dealer gets to cherry pick the motability cars. If they dont want them then the other dealers within that network get offered them. If they dont want them then the get offered to dealers like me (small ones) - and of we dont want them then they get binned off at auction houses for anyone to buy.

s_b

harveybobbles wrote: »

The selling dealer gets to cherry pick the motability cars. If they dont want them then the other dealers within that network get offered them. If they dont want them then the get offered to dealers like me (small ones) - and of we dont want them then they get binned off at auction houses for anyone to buy.

bluecycle used to take the ones that the auctions rejected as unsellable,
of course tesco now quite often get first dibs on motobility

s_b

harveybobbles wrote: »

9 timeso ut of 10 it'll be a leasing company or finance company selling the car amd they always have a rep on the rostrum.

Wont be able to leave a deposit if it doesnt get to the reserve price.

dont you believe it,they often do a bookies run at the end of the sale and if target figure reached for all cars entered they might let a lemon go cheaper,remember they need cash flow too just like we do
so why not take a depo off an unknown punter to try and squeeze him at the pay desk for some more,seen it so many times makes you laugh sometimes as daughter in backgroung jumping up and down as daddy tries to keep his hand but daughter just wants the keys to her first car
its even funnier watching them in the compound trying to start their now non runner
im sure you and some buddies smirk at them occasionaly