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  #1  
Old 03-01-2019, 01:34 PM
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Buying a lease car at auction....good deal?

Once upon a time, a car dealer told me he could get really great deals purchasing lease cars at dealer only auctions. Any chance non-dealers could get in on this action?

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  #2  
Old 03-01-2019, 01:37 PM
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I worked at a car lot in L.A. long time ago.We would run 90 weight gear oil,in motors,that smoked. Or idle them high to get them to sell at auction.
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  #3  
Old 03-01-2019, 01:59 PM
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I don't know but it stands to reason a certain percentage of them will be stinkers.
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  #4  
Old 03-01-2019, 02:31 PM
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When a leased car is turned into a dealership, the dealership has a crack at buying it from the leasing company. Sometimes the car is passed on for reasons of condition; sometimes the car is passed on for non-condition reasons, such as unpopularity or an uncompetitive purchase price as compared to resale value. In those cases, the car is sold at auction, establishing its sales price, which the leasing company can use to establish a taxable loss (as compared to the residual value established at the beginning of the lease). My 2014 Ford Taurus SHO was leased through Ford, and even though it had reasonable mileage, in very good condition, and in a popular color, the dealer passed on buying it from Ford, as similar cars were being sold more cheaply at auction. My point is that not all cars are on the auction block because of condition issues.
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  #5  
Old 03-03-2019, 12:02 AM
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Post Auto Auctions

Yes, there are more good than bad cars at auctions but _you_ must know how to tell them and also when to stop bidding as they often go over normal retail value, most folks seem to think that buying at auction means a good deal no matter how much you paid....

Lease turn backs tend to be good cars, often only having a bit more mileage than they'd like .

Anything with broken AC is junk, no exceptions .

I made good money buying cars at auction and up fixing them then re selling, I understand that's not what you want but beware .

There are always guys who'll charge you $50 to take you into a dealer auction where the better quality cars are .
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  #6  
Old 03-03-2019, 10:31 AM
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Quote:
Originally Posted by vwnate1 View Post
Yes, there are more good than bad cars at auctions but _you_ must know how to tell them and also when to stop bidding as they often go over normal retail value, most folks seem to think that buying at auction means a good deal no matter how much you paid....

Lease turn backs tend to be good cars, often only having a bit more mileage than they'd like .

Anything with broken AC is junk, no exceptions .

I made good money buying cars at auction and up fixing them then re selling, I understand that's not what you want but beware .

There are always guys who'll charge you $50 to take you into a dealer auction where the better quality cars are .
Had a "friend" who for $250.00 would follow my instructions on how much to bid on any vehicle at a dealer only auction. He said that was a pay cut as he normally sells the ones he purchases for bare minimum $500.00 over what he pays.
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  #7  
Old 07-03-2020, 11:36 PM
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Talking

' (Originally by Nnate)---
? Did I do a bad thing ? .

I only got a blank white page and my computer scan says everything is O.K......
---End Quote---
You just bought a 2018 Ford SUV...for $86,000...
***************

EEK ! .

? Why did someone remove these two posts ? .

I can take a joke .
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-Nate
1982 240D stripper 380,000 miles
1984 300CD KEEPER ! 481,XXX miles
1984 Euro 300TD Fully optioned SWMBO's
1974 350SLC 4 speed SOLD & missed
Kooky Kommie Ural Motocycles (3)
BMW Moto R60/6 Barn Find, 8,000miles
1959 VW #113 DeLuxe Beetle, 36hp engine, stock
Junk, Rust, Arthritis, Crushed Spine,Broken Neck, Back & arm, lots of screws, pins & plates .
Memories, Peace Of Mind
facts & reality don't change because you can't handle them
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  #8  
Old 07-04-2020, 09:52 AM
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Suspect one of the mods finally came through and cleared out some of the spam posts, probably the abortion pills from Dubai was the straw that broke the camel's back
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  #9  
Old 07-05-2020, 01:36 PM
t walgamuth's Avatar
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That was bonkers!
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.
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  #10  
Old 07-06-2020, 11:21 AM
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Quote:
Originally Posted by t walgamuth View Post
That was bonkers!
which is why you need the pills
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  #11  
Old 07-06-2020, 10:36 PM
vwnate1's Avatar
Diesel Dandy
 
Join Date: Nov 2005
Location: Sunny So. Cal. !
Posts: 5,583
Wink Wowsers

Looks like I missed all the drama, a good thing I think .

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-Nate
1982 240D stripper 380,000 miles
1984 300CD KEEPER ! 481,XXX miles
1984 Euro 300TD Fully optioned SWMBO's
1974 350SLC 4 speed SOLD & missed
Kooky Kommie Ural Motocycles (3)
BMW Moto R60/6 Barn Find, 8,000miles
1959 VW #113 DeLuxe Beetle, 36hp engine, stock
Junk, Rust, Arthritis, Crushed Spine,Broken Neck, Back & arm, lots of screws, pins & plates .
Memories, Peace Of Mind
facts & reality don't change because you can't handle them
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