► Buying Auction Cars

[hl0m4n]

for those who have experience buying cars at private auction like manheim, i wanted to ask what the process is and the risks involved.

to my understanding:

1. find a private dealer w/ auction access

2. negotiate a service fee with dealer

3. when desired car found
- can dealer perform a proper ppi?
- can dealer negotiate price?
- who/how do you pay for car? must be paid in full on spot?

4. car is purchased "as-is" so no warranties, etc? can you bring to oem dealer and get it cpo or only 3rd party extended warranties apply?

can someone post auction price for 2014 911 turbo/s coupe?

thank you guys.

[dmppdx]

I may not be the best person to answer this, but I did purchase a car through a Manheim auction about 10 years ago, so I will provide my thoughts on your questions, but my information might be out of date.

1. Correct

2. Correct

3. I don't believe there is much an outside party to do to inspect a vehicle. Manheim did have their own inspection staff that will note issues with the car such as scratches, tire condition, if it will start, check engine lights, etc. They won't do detailed inspections such what you would normally want when buying an expensive car. So they won't check for codes, or measure brakes, etc. I don't believe you can negotiate prices. They are sold at auction, so they are sold at what ever the highest bidder is willing to bid. You wouldn't be paying the auction company, you would be paying the dealer that is purchasing it on your behalf. I believe the dealer has a day or two to pay the auction company, so when they want you to pay them is based on your agreement with them.

4. I'm not sure if you can get it CPO'ed at that point. Maybe if you have a good relationship with a BMW dealership and the car is under the original BMW warranty, but I'm not sure. My assumption would be if you didn't buy a car through the BMW dealer, they would tell you to suck it.

[Seattle996]

I've bought most my cars from Manheim.. and my results have been great. I've purchased a few cars that had CPO that transferred over as well to me as the new owner.

I did have a nightmare though when I purchased an X5M. It came to my buddies dealership and looked fantastic... until we started it and the whole cooling system was shot. $8k fix I believe. We fought with Manhiem and the selling party (dealership) and they ultimately took the car back (2 week battle) I lost my $900 shipping from San Fran to Seattle.. but better than being stuck with a non working car. The listing stated the car ran.. looked great so just beware..

[slun80]

Manheim has sold three 2014 911 Turbos this year at dealer auctions...
- 21k - black - 4.4/5 grade - $94,600 in Tampa
- 46k - white - 4.9/5 grade - $87,500 in Riverside
- 21k - black - 4.1/5 grade - $87,000 in Riverside

They've sold more 911 Turbo S's - prices between $104k and $116,500 - 35k miles down to 15k