How many more articles will be written claiming Fleet Auctions are the best place to buy bargains ??
Do these car magazine journalists ever visit Auctions ?
They are simply dumping grounds for all the ex-lease companies leftovers.
I'll explain.....
Most leasing companies offer vehicles to thier staff members first at the end of the lease period.
Next the Franchise dealers have their pick along with other trade buyers/car supermarkets.
Whats leftover is sent to auction and typically-
1). Poor Specification - white/dark solid blue/burgandy -- No aircon or sunroof...
2).High milelage - 85'000 + on a 3 year old car
3).In need of significant body repairs - large dents / Scratches / Damaged paintwork.
4).No paperwork.
The sad thing is private punters often pay more for these cars at auction than they would for a better car at say a car supermarket or local independent dealer.
I'm sure some of you will counter what i said by asking why do traders attend auctions ? well most don't bother with the well known auction houses -these attract the private punters and normally the worst cars.It's also a seasonal thing,when the plate changes happen there are so many lease cars to dispose of there are more 'quality' cars on offer.
My advice buy directly from a leasing company ( check out exchange and mart ) or car supermarket but avoid finance deals.At least you can drive these cars and check out the paperwork unlike at most auctions.
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i find that a dealer near me is very good, you can get an ex-bank 1999 (V), vauxhall vectra, 1800 gls, with FVSH, for £6000.
ex-building society 1999 (S), volvo S40, auto,, 1900 cd, FVSH, leather, £5950.
the place is called 'jack ford ltd' and the phone number is 0191 236 6333, and the web address is www.jack-ford.com this garage was actually recommended by quentin wilson,
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These journos make me laugh with their 'buy one of these at auction,save thousands run it for two years and get all your money back routine'I wonder how many have earnt their living buying and selling cars from auction b4 deciding writing about it was easier.
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"1). Poor Specification - white/dark solid blue/burgandy -- No aircon or sunroof...
2).High milelage - 85'000 + on a 3 year old car
3).In need of significant body repairs - large dents / Scratches / Damaged paintwork.
4).No paperwork."
So how come I ended up with an Omega CDX:
1.Dark grey metallic aircon and sunroof
2.24K miles in 18months
3.No damage bar a barely visible ding in the rear bumper
4.All paperwork, including fully stamped service book.
All for less thana car supermarket.
The truth is that there are bad deals at auction, same as anywhere. No, you can't go with a blind "I'll get a good deal whatever I buy" mentality, but the bargains are there to be had.
Vin
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I come out half way between Steve and Vin. LEX used to sell all its cars off to favoured traders. Now it auctions them. It's true that fleets like Leasecontracts with a high percentage of 'desirable' cars will first refurbish them then offer them by internet auction to franchises in order to try and realise the highest possible residual value. Cars not deemed worthy of this treatment will go to auction. But good cars still slip through and The Great Trade Centre which is the biggest car supermarket in Europe (currently down in stock to 2,750 cars instead of 5,000 due to market conditions) will have a buyer at every worthwhile fleet auction. It can make more sense for the private man to buy at GTC rather than at auction because he won't then have to wait for the right car, can buy a warranty on the spot, and will have more comeback, all for a typical mark-up over auction or buying in price paid of £250 - £500. Meanwhile, unless I give the whole thing up as a waste of time and money, I'll try to post an auction report in the news every week. Did one of you buy that cheap Cadillac that went to the GTC Friday before last? (See auction news.)
HJ
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Not many people brave enough to buy that Caddie,but intresting to think what GTC make of it.They dont get it right every time,and will have their share of cars 'growing beards'.Its not a precise science.
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in south tyneside you can buy cars direct from LEX, as they have a dealer just selling ex-fleet cars. its called LEX Autocare, (i think thats the name).
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I'm Glad you found a Good deal Vin. Yes there are some bargains at auction but for the average private buyer taking time off work/travelling to auctions/paying the private punters auctioneer's fee's ( £ 4000 car = £ 140 indemnity fee) and the possibility of buying a problem car ( no test drives or warranty) outweigh any advantages.
I think Honest John has the best suggestion buy at a car supermarket such as GTC. There are a few poor cars on offer but with such a large choice you can be choosy and pick out the best.
One other point i would like to raise is the ex-daily rental cars offered at auction have sometimes incurred serious accident damage but will not be registered on VCAR because the rental companies underwrite their own fleets so HPI/AA Data will never know. There are genuine risks at auction for the inexperienced ( Mr Parker's price guide / with whole family on tow).
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Couldn't agree with you more,even 'respectable'auctions like BCA are a minefield,even experinced buyers,buying many cars week in week out buy cars that they wish they had never seen,and they can absorb the cost of these across the rest of them.God help poor old Joe Bloggs,when his lovely shiney ex Axus/Lex etc Mondeo or Vectra drops its guts out,or the lovely shiney paint looks like Joseph's coat and then theres the ex daily renters,some good,some bad,and most just very average,just waiting to bite you.Well you can always rely on the auction indemnity,can't you????
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Visiting auction is great entertainment. Amazing how difficult to see when some are bidding. If you are looking for specific models it gives a good idea what a selection are costing in a short time. I have been very satisfied with my older vehicle purchases but they were simple to maintain and no ECU/catalyst! If you make a mistake just sell in on in another auction!
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biggest surprise to me visiting auctions over a few weeks, was how many sold cars came back the next week, and then the next week etc...
so they either wernt really sold, maybe the punter didnt have the money, or for trade buyers they just found out the cars problems and pushed it straight back in...
its much harder for ordinary punter because unlike the trade you cannot spot the problem car that has been in and out of auctions for the last few months...
however, also amazed at some of the ex-fleet low milers that were obviously genuine and obviously good value...
small dings shouldnt worry anyone, youd also be amazed the number of brand new cars that have been damaged on the journey to the dealer and get fixed up before the punter gets it...
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Ive bought a few cars at auctions,perhaps thats a slight understatement.
You have to get it into your head that you could be spending a long time admiring the trades latest tottie line up without even bidding for anything.
I was at Bridgewater in June and came to the conclusion it should be renamed retail city.......
Mosty people dont know how to value a car.
If its for stock,rather than punter/retail outlet waiting then the trade want £500 to a grand off book on even desirable stuff.And beleive me,theres not a lot of that....
Most things are a grand behind,some would say an Omega with a 3litre petrol lump two grand.....provided its truly immaculate,as in "Its a minter,John".
Funnily,I was trying to buy one at Bridgewater....
Any work and you should double the cost of the work and subtract from trade,then adjust cruelly for mileage.......
You dont buy much like this,but when you do ,its nice.
And "BOOK" means TRADE book!
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I've bought my last 4 cars at BCA auctions all low mileage, under 18 months old with no problems
You may have to wait most of the day for the one you want but good savings if you are carefull
Only irritating thing for private punters is you can't get onto the car lists on the BCA websites. Only alternative is to pay £1 a min for their rip off fax back or turn up and hope what you're after is there.
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