PDA

View Full Version : Has anyone bought a BMW at the auction?


bimmerguyjoey
05-06-2010, 07:49 PM
How does it work? Can you see the car first or just have to rely on the wholesaler's opinion?

skylolow
05-07-2010, 05:51 AM
Usually at the auctions there is a time period before the auction starts that allows you to walk around the cars that will be at auction.

I assume your going with someone with a dealership license. Best advice I can give you is whatever you do make sure the car you pick out is still under warranty. Also makes sure you got a 1K-2K left over just in case. High chance you'll need new tires and full detail with paint correction by a professional.

Always ask youself why is this car here and not on a lot somewhere??? These aren't like Chevy Mailbus and the dealership just had to many used ones to take on another one so they send it to auction.

I'd try to go too a BMW auction that there selling there return lease vehicles. You'll get a nicer car then a straight up mix/match auction.

partizan
05-07-2010, 11:36 AM
I'd try to go too a BMW auction that there selling there return lease vehicles. You'll get a nicer car then a straight up mix/match auction.


That's how I did it - lease return 2006 530XI with 19K miles. Bought it off the Manheim auction in Milwaukee, WI in 2008. Car was in pretty good condition sans some paint chips on the trunk lid, and the interior was immaculate. Had two years to enjoy full warranty :thumbup:

We were actually able to see all the prospective cars the day before the auction, as they all were there waiting on the lot. I did go with my father in law, who has the dealer license ;)

There was some good info on the Manheim auction website about the car, including pictures as well as a full condition report with every scratch and ding listed.

Good luck to you with your purchase!

skylolow
05-07-2010, 07:10 PM
That's how I did it - lease return 2006 530XI with 19K miles. Bought it off the Manheim auction in Milwaukee, WI in 2008. Car was in pretty good condition sans some paint chips on the trunk lid, and the interior was immaculate. Had two years to enjoy full warranty :thumbup:

We were actually able to see all the prospective cars the day before the auction, as they all were there waiting on the lot. I did go with my father in law, who has the dealer license ;)

There was some good info on the Manheim auction website about the car, including pictures as well as a full condition report with every scratch and ding listed.

Good luck to you with your purchase!

Yep, Manheim is the best way to go for auction. Its where most BMW dealerships get there used cars. Usually the cars need very little attention besides some tires and a good detail.

Ralph III
05-07-2010, 10:34 PM
Well you have been given some good advice already.

I used to work at a dealer only auction and for 14 years was the only place I purchased my vehicles. BTW, cars are at auctions for various reasons depending on type auction. We had lease vehicles, dealer trade in's and bank repo's. All worthy of consideration under right circumstances.



The major things to consider, others' can add if needed, are these:

1) Get to the auction early! If you can visit a day or so beforehand even better. A good contact at the auction can keep an eye out for a particular car. Viewing several days ahead is a major plus.

2) Have someone you can quickly call the vin number into (many cars come in late). This way you can check the carfax history and/or loan value of a particular car. Auction personell can often do this for you but will be busy day of auction. Also, unless a good contact, some may not want to reveal too much about a car.

3) Start the motor and let it run for a while. After a bit run at high idle, longer the better. You want to check if the car heats up, oil light comes on or otherwise abnormal noises from car. After this check everything over (electrical, paint, oil, etc) really well. Be sure to test drive it if possible, zig/zag and straight, check every gear including reverse.

4) Check with auction personell or dealer for any insight on the car.

5) Try and get one with a warranty as noted. However, if you find an excellent one with an excellent history and the price is right, then go for it. Just check it over well. In 2002 I purchased an '01 Acura with 63k miles. We just sold for 1/4 what we paid with 280k miles. My 4 runner was purchased with 50k and now has 150k no problems. Toyota Tacoma was similar.

6) Decide on an absolute top dollar bid. You, as a retail customer, should be able to outbid a dealer who must resale for profit.

7) Lastly, I better add this one as managed the detail business. Do not let the cleanliness of a car sale you! You need to consider the car condition and history first and then the cleanliness or potential thereof. Auction cars often get detailed before running through and some can be quite rough!

Having a good contact to check the carfax and indeed your bankers number will allow you to get an accurate value and quality of the car prior to bidding.