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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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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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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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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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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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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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