Auction Report #7: Manheim Colchester 18 Dec 2008

[king arthur]

minghis said:

uk_vette said:

Is it mandatory that you fill in the V5 at the cashiers desk ?

Why can't you take the V5 away with you and fill it in yourself, saving the cash ?

Edited by uk_vette on Sunday 21st December 12:29

Just the way it is. It's not an option, you just have to pay it. Done possibly to appease the trade buyers (who have an account and get a lot less fees than the private buyers) who feel annoyed that the auction houses are doing a good job of luring in the private buyers.

I was under the impression it was at the behest of DVLA. When I was trading cars a few years back, at first I handed the V5 to the buyer but kept a copy of a signed invoice. I would quite often get letters from DVLA saying that the car had been seen used on a public road without tax, fortunately with the invoice copy I was able to prove that I was not the owner of the car at the time. I learned to get the buyer to fill in the V5 and send it off myself after a while.

[V8mate]

king arthur said:

minghis said:

uk_vette said:

Is it mandatory that you fill in the V5 at the cashiers desk ?

Why can't you take the V5 away with you and fill it in yourself, saving the cash ?

Edited by uk_vette on Sunday 21st December 12:29

Just the way it is. It's not an option, you just have to pay it. Done possibly to appease the trade buyers (who have an account and get a lot less fees than the private buyers) who feel annoyed that the auction houses are doing a good job of luring in the private buyers.

I was under the impression it was at the behest of DVLA. When I was trading cars a few years back, at first I handed the V5 to the buyer but kept a copy of a signed invoice. I would quite often get letters from DVLA saying that the car had been seen used on a public road without tax, fortunately with the invoice copy I was able to prove that I was not the owner of the car at the time. I learned to get the buyer to fill in the V5 and send it off myself after a while.

I don't doubt that you are at all incorrect. I just despise paying £25 for something which costs them a few pence.

[dabbler]

V8mate said:

dabbler said:

steebo888 said:

V8mate said:

dabbler said:

Hello to everyone,new to the board.
Thanks for the posts.Very helpful as i am about to start trading from home and looking to use Manheim in the north west.

That's a brave move in the current climate. Certainly not a stupid move, as there are certainly deals to be done.

What provided the impetus for your decision? Have you been working in car sales and want to go independent?

What kind of cars do you plan on selling? How many cars can you stock at any one time?

This is something ive been thinking about doing for a while but im gonna wait to see what happens in the next few months. I did start 3 years ago only doing 1 but didnt have the time but now do.
Im currently saving for a car in the spring so have a bit of £ spare and might have a punt at one/a few.
If you are trading the right cars you can still make some £

A good way to start at the moment is the ford ka's/corsas/fiestas for a few grand keeping 1 car at a time.

I have decided to give it a go but only with two cars,possibly three.
This is part time as i have a factory job which gives me a wage.
I am hoping to buy cars in the 4 to 5k price range and maybe offer 90 day warranty with each sale.

Only maybe?

On another board it was a struggle to find anyone with anything good to say about warranty companies
with such comments as "not worth the paper they are written on"but if someone could recommend a decent company I would certainly include a warranty.

[dabbler]

Alfa_75_Steve said:

A dealer doesn't *have* to offer any kind of warranty, but the SOGA could well come back and bite you on the arse.

Given the number of dealers going to the wall at the moment, as car values drop by hundreds, if not thousands, every week, you'd have to be very brave, or more accurately, very stupid, to think you can make some money buying up at auction and flogging a few cars from your drive.

Remember, all profits have to be declared to the tax man, plus you'd need trade insurance and your house insurers would probably want to charge extra for business use... which also leaves you open to queries from the local council over using your house as business premises.

I think a lot of people love the idea of buying and selling a few cars to make some extra beer money - but these are the ones who park cars at the side of the road and only give a mobile number, so buyers get royally shafted if anything goes wrong.

Alfa I take it you are refering to me being really stupid but if you don't give it a go you'll never know and as I said i have a full time job as back up.
Cars would not be on the drive as i have a small lock up and my home number would be in the advert
because the last thing i would want is to sell a duffer to anyone.
That aside thanks for your comments!

[Alfa_75_Steve]

dabbler said:

Alfa I take it you are refering to me being really stupid but if you don't give it a go you'll never know and as I said i have a full time job as back up.
Cars would not be on the drive as i have a small lock up and my home number would be in the advert
because the last thing i would want is to sell a duffer to anyone.
That aside thanks for your comments!

I've seen too many people try this and get burned, in some cases quite badly.

It only takes one duffer to put you down, and the way values are dropping, something you buy at auction this week could well have a forecourt value several hundred pounds cheaper by the time you get a bite on it.

Even the big boys are getting into difficulties with values at the moment - a few months ago, I was given a price to buy my company car at the end of the lease - they wanted £7k for a 3 year old Passat 2.0TDI-SE. Quite a sellable car.

Looking at some of the supermarkets, a car with half the mileage on it is now selling for £6k or less.

To add some further context, it needed a new clutch and flywheel, at nearly a grand, just a few days before handing it back.

If you'd bought that at auction, just before the clutch had gone, you could easily find yourself £2k down.

[matt21]

much better quality cars than my local Manheim auction (Northampton).

Maybe I am being naive, but why do these cars come through. Surely a 2 year old or so Merc or whatever would be an ideal dealer forecort car??

[minghis]

matt21 said:

much better quality cars than my local Manheim auction (Northampton).

Maybe I am being naive, but why do these cars come through. Surely a 2 year old or so Merc or whatever would be an ideal dealer forecort car??

Absolutely, but dealers have to move stock on if they can't sell it or indeed if the manufactures allocates a load of new cars they simply have to liquidate the existing stock 'cos they need the space.

[Alfa_75_Steve]

matt21 said:

much better quality cars than my local Manheim auction (Northampton).

Maybe I am being naive, but why do these cars come through. Surely a 2 year old or so Merc or whatever would be an ideal dealer forecort car??

A lot of them are ex-lease cars.

Main dealers will both buy and sell at auctions.

[Chris_w666]

G'kar said:

That Avenger has gone from 16K to 6K in 9 months.

I thought that, but having seen one close up it is still overvalued by about 5.5K.

[Alfa_75_Steve]

Chris_w666 said:

G'kar said:

That Avenger has gone from 16K to 6K in 9 months.

I thought that, but having seen one close up it is still overvalued by about 5.5K.

No-one paid £16k for one, surely?

Weren't they being given away on a BOGOF last month? - or around £7.5k for one.

[V8mate]

Alfa_75_Steve said:

Chris_w666 said:

G'kar said:

That Avenger has gone from 16K to 6K in 9 months.

I thought that, but having seen one close up it is still overvalued by about 5.5K.

No-one paid £16k for one, surely?

Weren't they being given away on a BOGOF last month? - or around £7.5k for one.

IIRC, the BOGOF offer (at Broadspeed) was for the 'top of the range' model, list price £20k.

[torquehappy]

volvos60s60 said:

Well done V8mate, big effort from you, big appreciation from all on here

Great reading

Were there any 350Z's that went through v8mate?

[V8mate]

torquehappy said:

volvos60s60 said:

Well done V8mate, big effort from you, big appreciation from all on here

Great reading

Were there any 350Z's that went through v8mate?

Not recently. A couple of roadsters went through - see my earlier reports - but there was very little interest in them.

[whitechief]

V8mate said:

torquehappy said:

volvos60s60 said:

Well done V8mate, big effort from you, big appreciation from all on here

Great reading

Were there any 350Z's that went through v8mate?

Not recently. A couple of roadsters went through - see my earlier reports - but there was very little interest in them.

RFS have four at Colchester stuck right up the proverbial.

[mc_blue]

That CLS seems like quite a bargain doesn't it. Can similar age/spec ones be had for that sort of price? Recent trends in car prices seem to imply that buying new is difficult to justify.

[kprm77]

The CLS and the Chrysler 300CRD seem like bargains to me.

How much is the buyers premium again?

[V8mate]

kprm77 said:

The CLS and the Chrysler 300CRD seem like bargains to me.

How much is the buyers premium again?

Probably about £400 on the 300C and £600 on the CLS.

[J400uk]

V8mate - Do you know where Mercedes-Benz Direct auction cars that they have recieved as part-exchanges from customers?

[Pork]

Just found this thread, what a great read! THANK YOU to the OP

[BAHN-STORMA]

J400uk said:

V8mate - Do you know where Mercedes-Benz Direct auction cars that they have recieved as part-exchanges from customers?

Various sites - there are some at Paddock Wood this morning and Blackbushe on 5/1/08.

I assume you have a specific car in mind, as I would recommend caution when looking at the PX stuff!