When the dealer buys cars at the local auction for late model vehicles just off lease are they then selling them on their lot at a 30% markup, 50% markup, 100% markup? I know it is different for different cars, but is there a good general rule of thumb?
2006-11-19 14:28:29 · 4 answers · asked by Gene Guy 5 in Cars & Transportation ➔ Buying & Selling
Whatever the market will bear is what determines the price. So lets say the dealer gets a 5 series BMW from an auction. Lets also suppose that the age, milage and overall condition of the car makes it worth about $34,000 retail. He might have bought it at the auction for $18,000 or he very well could have bought it for $30,000. And then there could have been other costs associated with doing any repairs to the vehicle in order to make it road ready. Regardless of what happens on the back end, a $34,000 car will only get $34,000 in the market. So the markup is variable and not really a fixed ruel.
2006-11-19 14:35:39 · answer #1 · answered by Joe K 6 · 0⤊ 0⤋
Primarilly, you have to be a dealer to participate in Manheim Auto Auctions. You might get a dealer to buy one for you with a gratis of $200.00. He will buy the car, get all of the papers, contact you, and sell it to you. Better off going to another auction in your area. If you're not a dealer, Manheim won't even let you in the auction area.
2016-05-22 06:14:29 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Sometimes 500%.
2006-11-19 14:33:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
as much as they can
2006-11-19 14:39:13 · answer #4 · answered by Lou S 2 · 0⤊ 0⤋