Buying used cars at dealers auctions the buyer touches up and resells which can turn you a tidy nice profit. So if you know how to buy used cars at a dealers auction you can make a living.
Where do dealer's buy there inventory ? Used cars dealers prefer to sell to customers, to other dealers and yes dealer auctions. When a car is too far gone to sell in any of these ways, they send them to a public auction. Always take second, third and yes fourth look at used car dealer offerings at the public auction sale. What is good to buy: This is how used cars dealers buy, they buy unclean, dirty autos with dings everywhere that can be easily fixed. However avoid buying a cosmetically mess child transporter that is in need of mechanical repairs. What to buy: Buy a variety of used cars that you know can be fixed up and sell easily, usually higher mileage autos since they have highest sale to purchase price ratio. So as long as it's not a high maintenance auto or on the verge of falling apart, it could be a money maker you bought. The autos you see are usually touched up, polished for auction. It does not mean it is a quality car. Check car history, see if VINs match dash, door. Sellers hide problems that can make a bad engine seem clean and sound good. Also some will deactivate an engine light or code with an OBD code reader, so always listen and look. Know how to look for tricks and hidden flaws. Studies show banks repos have best inventory and best prices but beware because I seen many people buy bank owned cars to later find the engine tapping. Look and listen well and know your noises and check the interior. These used cars at dealer auctions are considered auctioneer capitalism in its purest form, they move fast with intensity. You will easily feel rushed, pressured to decide, always tell yourself slow down especially if your unsure about the vehicle at the auction. You can always walk away and buy next week. Remember it is easy to buy junk that you can't sell. They say limit your self before bidding starts and stick that. Set a top price and never go above it. Do not let anyone distract you stay focused and alert, listen and look. The autos offered run in an order so arrive early to inspect and know when your cars will be on the block. See if they have an order list. Hire a truck driver to haul your inventory home instead of taking a chance driving it. Are dealer Auctions a Good Place To Buy? That depends on your mechanical knowledge, willingness to do research and of course luck. You will make good money or go home crying | home | |