Are these for real?? I mean I'm looking on some websites, and they are starting some expensive cars like '05 lexus' and '04 corvettes for like $1,000.
Is it a scam or is it for real? And what would be the likely-hood of purchasing a car like that at one of those auctions for super cheap.. like under $10,000?
2007-05-02 12:33:05 · 8 answers · asked by Brad D 1 in Cars & Transportation ➔ Buying & Selling
you have to have certain credentials to get into most auctions like that. Maybe have to be a dealer. anything to good to be true usually is. a cheap car has alot of miles or abuse or both.
they pay a cut rate and then sell them to the public on 100% mark up.
2007-05-02 12:37:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
All signs point to yes... any time a lender, especially a bank or the such, loans money to buy a car, you are then obligated to pay that loan. If the car was from a "buy here pay here" establishment, you would not always be obligated, but can sometimes be held accountable even in those instances. Anything left on the note that isn't covered by the sale of the vehicle through auction, plus any fees the lender incurs from the repossession, etc., you will also be liable for. Sorry for the news, but it's the naked truth of car buying... once you sign the note, there's no going back beyond bankruptcy at times...
2016-05-19 01:55:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The auctions do exist. Some require you to be a car dealer, some don't and are open to the public. Impound yards, repo cars, drug seized autos, all will be found at auctions. Can you get a good deal? Depends on your car knowledge, and whether you find it risky to purchase a car that you don't get to drive, you get to start only. Also, most cars have very high mileage, may have been poorly maintained(if they didn't make payments, why maintain the car)could very likely be cars shipped out of flood damaged states. Lots of room for error, some room for success if you are lucky and knowledgeable.
2007-05-02 17:12:04 · answer #3 · answered by fisherwoman 6 · 0⤊ 0⤋
The "opening bid" on an auction is meaningless. Neither of those models would actually sell for that price unless it was a total wreak.
Most auction sales run pretty close to dealer wholesale at closed auctions -- and "who knows" at open ones. Prices at open auctions do tend to run a bit higher, one reason why many dealers avoid open auctions.
2007-05-02 13:03:54 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Hi
You can get really good cheap cars from auctions , you will find thousands of different auction and repo cars really cheap at http://www.carauctions.co.nr
Hope this helps
2007-05-03 23:34:59 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Some is scam,some is true.
Two months ago,I bouht a near new SUV from online police auction.It only cost me $730 and i have not had one problem with it yet .
I followed the guide on
http://www.usedcarsinfo.info/index.php?t=usedcar .That site lists top 5 Police auction sites and help you choose the best one.
Hope that can help you.
2007-05-03 04:04:03 · answer #6 · answered by Robot 1 · 0⤊ 0⤋
Yes they are but just like everyone has said you do need to either be a car dealer or like I did go with my friend who is a car dealer and pick out the car I wanted and let him do the bidding for you.
2007-05-04 04:41:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
If you need more online auction information check out http://online-auctions-selling.com
2007-05-05 18:23:45 · answer #8 · answered by Anonymous · 0⤊ 0⤋