Go Back   Askaboutmoney.com > Don't Askaboutmoney > Cars, cycling and transport

Reply
 
Thread Tools
  #1  
Old 06-11-2008, 09:25 AM
!RAY !RAY is offline
Frequent Poster
 
Posts: 190
Default What price to pay for a car at auctions

Hi
Compared to the price you will pay for a car in a garage what can you expect to pay at auction.I have to put some bids in on a few cars should i bid 20,30,40% below the garage price.
Thanks
!RAY
Reply With Quote
  #2  
Old 06-11-2008, 09:38 AM
RS2K RS2K is offline
Frequent Poster
 
Posts: 2,267
Default Re: What price to pay for a car at auctions

Impossible to answer that. It depends car to car and night to night.

Bid whatever you think is a good price, and no more.
Reply With Quote
  #3  
Old 06-11-2008, 01:18 PM
Elitist Elitist is offline
Registered User
 
Posts: 46
Default Re: What price to pay for a car at auctions

You can subscribe to their results sheets giving year, milage, price achieved
Merlin send one out by email once a month
Reply With Quote
  #4  
Old 06-11-2008, 04:57 PM
roadrunner roadrunner is offline
Frequent Poster
 
Posts: 264
Default Re: What price to pay for a car at auctions

If anyone is subscribed can they tell me how much would a 04 VW Passat comfortline make, been trying to shift mine without any joy.
Reply With Quote
  #5  
Old 06-11-2008, 09:05 PM
paddyd paddyd is offline
Frequent Poster
 
Posts: 458
Default Re: What price to pay for a car at auctions

Quote:
Originally Posted by roadrunner View Post
If anyone is subscribed can they tell me how much would a 04 VW Passat comfortline make, been trying to shift mine without any joy.
Its nigh on impossible to answer your question. I've been to auctions over the years when everything was a high mileage salesman's car, and cars would easily sell for 40-60% of their trade value.
With all the repo and low mileage at the auctions these days, I seen of popular low mileage diesels going for 33% off trade value, or roughly half of the carzone cheaper prices.
Trade value however, means absolutely nothing these days.

go to an auction, it only cost a few to sit and watch. I advice going to a few auctions before buying. Also set a max price you are prepared to pay for a car, and never go over it.
Reply With Quote
  #6  
Old 06-11-2008, 10:23 PM
MandaC MandaC is offline
Frequent Poster
 
Location: A Happy Place
Posts: 1,786
Default Re: What price to pay for a car at auctions

Listening to a radio article, said there are so many finance repossessions based at an Auction centre in Naas, I wonder if these would be a bargain?
Reply With Quote
  #7  
Old 07-11-2008, 07:12 AM
starlite68 starlite68 is offline
Frequent Poster
 
Posts: 330
Default Re: What price to pay for a car at auctions

Quote:
Originally Posted by MandaC View Post
Listening to a radio article, said there are so many finance repossessions based at an Auction centre in Naas, I wonder if these would be a bargain?
thats true...all the auctions are awash with repossession cars and vans these days!
Reply With Quote
  #8  
Old 07-11-2008, 07:34 AM
extopia extopia is offline
Frequent Poster
 
Location: Dublin
Posts: 3,108
Default Re: What price to pay for a car at auctions

When you see repossessed toyotas for sale at an auction, it really brings home the scale of our economic problems.
Reply With Quote
  #9  
Old 07-11-2008, 09:46 AM
Dinny Dinny is offline
Frequent Poster
 
Posts: 249
Default Re: What price to pay for a car at auctions

spoke to auction centre yesterday. said he sold a 06 vw passat, tdi high line 70000km on clock for 10,000.
Reply With Quote
  #10  
Old 07-11-2008, 10:41 AM
paddyd paddyd is offline
Frequent Poster
 
Posts: 458
Default Re: What price to pay for a car at auctions

Quote:
Originally Posted by Dinny View Post
spoke to auction centre yesterday. said he sold a 06 vw passat, tdi high line 70000km on clock for 10,000.
this sounds about right to me. Even when RTE news went to Naas, they showed an repo'ed avg mileage '06 E220 with a trade value of 30k that sold for 20k
Reply With Quote
  #11  
Old 07-11-2008, 10:54 AM
Caveat Caveat is offline
Frequent Poster
 
Location: pastoral
Posts: 4,024
Default Re: What price to pay for a car at auctions

It's possible to get great bargains at auctions - particularly if you are mechanically minded or can bring someone, and especially if you are not concerned about car image/badge.

Depends on what you want but traditionally unloved or maligned, low mileage but perfectly functional and reliable models like e.g. the old Mitsubishi Charisma or Mazda 323 can be picked up very cheaply.

You need to be patient too and disciplined about what you will spend.
__________________
Music: washing away the dust of everyday life.
Reply With Quote
  #12  
Old 07-11-2008, 09:39 PM
finisklin
 
Posts: n/a
Default Re: What price to pay for a car at auctions

I looked at Merlin car auctions this week and subscribed to their catalogue of prices achieved for cars sold in the last month (Sept).

Very disappointed at the prices and range of cars.....For example, with repossessions one might expect a fair few executive cars such as BMW 3 series or lower end Mercedes. Surprise surprise but very few 08, 07 or 06 models featured in the catalogue.

I've come to the conclusion that the finance houses/leasing companies either sell off the good stock to dealers that they have relationships with or Merlin car auctions flog them before they actually go to auction.

I tried AIB leasing and finance as they are not associated with Merlin and they have a car park/garage of repossessed cars. Got the number but have truied it several times and no reply! If there is any AIBers out there, please feel free to fill us in on how best to access these guys and get a shot at purchasing a new repossessed car.

If my take on this is off the mark, feel free to set me straight......

Anyway, I have the list from merlin so if anyone wishes to peruse it please PM and I will forward.

As for the second hand car I'm off to the UK....less hassle and more straight forward leg work.
Reply With Quote
  #13  
Old 08-11-2008, 09:59 AM
paddyd paddyd is offline
Frequent Poster
 
Posts: 458
Default Re: What price to pay for a car at auctions

Quote:
Originally Posted by finisklin View Post
I looked at Merlin car auctions this week and subscribed to their catalogue of prices achieved for cars sold in the last month (Sept).

Very disappointed at the prices and range of cars.....For example, with repossessions one might expect a fair few executive cars such as BMW 3 series or lower end Mercedes. Surprise surprise but very few 08, 07 or 06 models featured in the catalogue.

I've come to the conclusion that the finance houses/leasing companies either sell off the good stock to dealers that they have relationships with or Merlin car auctions flog them before they actually go to auction.

I tried AIB leasing and finance as they are not associated with Merlin and they have a car park/garage of repossessed cars. Got the number but have truied it several times and no reply! If there is any AIBers out there, please feel free to fill us in on how best to access these guys and get a shot at purchasing a new repossessed car.

If my take on this is off the mark, feel free to set me straight......

Anyway, I have the list from merlin so if anyone wishes to peruse it please PM and I will forward.

As for the second hand car I'm off to the UK....less hassle and more straight forward leg work.
its incredibly rare to find the kind of cars you refer to at an auction. Theres a reason they're popular, so they go to the trade, not to auction.

remember the cars at auction are the ones that can't/won't sell on the forecourt (or of late the ones the banks need to shift asap), and they sell for very low money, so if it was full of BMW's and Merc's we'd all be there.
thats why if you want an auction car, you need to have no specific requirements, just that for example, you want to spend 12k on a 2yo diesel car. Thats it. Then what you see on the day is what you get.

If you decide that you want to be very specific with the marque and spec of car you want, then like you said, just go to the UK or a local dealer.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 01:00 PM.