Buying a nearly new car at auction privately.
Discussion
Hi All,
Just a quick question.
As a private buyer is it possible to buy (say) a 10,000 mile 6 month old Fiesta at auction?
I wonder, because it seems fairly low risk and I'm not sure what value the "Supermarkets" add when typically the cars are under manufacturers warranty anyway.
I'm not having a jibe at car supermarkets - just wonder if an average person on their own can do it and is it financially worthwhile.
Do the big boys get bulk purchase discounts such that I as an individual would not be able to buy a car any cheaper than buying through a car supermarket.
Is it a case that the car supermarkets make their money on extras and have a wafer thin profit per car but shift masses of them? How does it work?
Are auctions closed shops for this kind of purchase to a non-trade person?
Thanks, D.
Just a quick question.
As a private buyer is it possible to buy (say) a 10,000 mile 6 month old Fiesta at auction?
I wonder, because it seems fairly low risk and I'm not sure what value the "Supermarkets" add when typically the cars are under manufacturers warranty anyway.
I'm not having a jibe at car supermarkets - just wonder if an average person on their own can do it and is it financially worthwhile.
Do the big boys get bulk purchase discounts such that I as an individual would not be able to buy a car any cheaper than buying through a car supermarket.
Is it a case that the car supermarkets make their money on extras and have a wafer thin profit per car but shift masses of them? How does it work?
Are auctions closed shops for this kind of purchase to a non-trade person?
Thanks, D.
Really useful info thanks all. Its looking like its possible but there are several headwinds so to speak.
Buyers premium.
Cosmetic repair cost.
Private buyer getting "bid up".
Patience!
Having to fit the car buying process into a non car related working week!
Having to accept a spec you may not want.
So using a Car Supermarkets £1000 profit as a metric doesnt leave a great deal to knock off the financial value of the above points and be left with a worthwhile saving.
I guess, like a lot of things, as you go up in purchase price then the savings are greater - perhaps not as a percentage but in gross saving. The refurb, other costs, hassle may not proportionately be higher the more you spend so it might start to be more worth while for a prestige type vehicle than more common "bread and butter" type cars.
Think I will give it a miss, but thanks for an insight.
Cheers D.
Buyers premium.
Cosmetic repair cost.
Private buyer getting "bid up".
Patience!
Having to fit the car buying process into a non car related working week!
Having to accept a spec you may not want.
So using a Car Supermarkets £1000 profit as a metric doesnt leave a great deal to knock off the financial value of the above points and be left with a worthwhile saving.
I guess, like a lot of things, as you go up in purchase price then the savings are greater - perhaps not as a percentage but in gross saving. The refurb, other costs, hassle may not proportionately be higher the more you spend so it might start to be more worth while for a prestige type vehicle than more common "bread and butter" type cars.
Think I will give it a miss, but thanks for an insight.
Cheers D.
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