Newb buying at auction.

Discussion in 'Member Introductions' started by Pwoblem, Jun 18, 2010.

  1. Pwoblem

    Pwoblem New Member

    Greetings folks! I'm looking into buying a car, and came across an auction. I'm really not sure about this method of buying. Can any of you folks share any car auction experiences? Whether good or bad, I'd like to hear/read from you.

    Another thing, I've noticed some vehicles have rebuilt/salvage titles, is there any big deal buying one of those?

    What do you folks think of it?
  2. j-schmizzle

    j-schmizzle Rockstar 4 Years 1000 Posts

    my brother bought a supra years ago from an auction for $1500 with the motor not running. the body was immaculate and the only thing wrong with it was that it needed engine work (which he replaced with a rebuilt one). as for the truck you are thinking of bidding on, i wonder why it has a salvaged title? do you know why? the only thing i can suggest is ask you insurance company first, how much it would be to insure a vehicle with a salvaged title. other than that, the truck looks good from the pictures.
  3. retired2001

    retired2001 Epic Member 5+ Years 5000 Posts

    Welcome to the GMTruckClub! I have no experience with auctions, but I do know that the "salvage title" can lead to problems with getting financing and insuring. Good luck!
  4. Eddie Z71

    Eddie Z71 Epic Member 5+ Years 1000 Posts

    Hi, and welcome to the site!
  5. TRPLXL2

    TRPLXL2 Epic Member 5+ Years 1000 Posts

    I would go for it, I speak from personal experience about auctions. I had my truck reposessed last year and they took it to auction, and I had over $70,000 invested in it with 10,000 miles on it, and some one bought it for $20,000 which was a steal. Hell after that I would buy a repo car at auction, you just can't think about the poor person who lost there vehicle.
  6. murdog94

    murdog94 Epic Member 5+ Years 5000 Posts

    Welcome aboard.
  7. tbplus10

    tbplus10 Epic Member Staff Member 5+ Years 5000 Posts Platinum Contributor

    I used to buy a lot of auction vehicles for resale but I've slowed down buying the last few years and focused on other types of buisiness. I'm not familiar with this particular auction house but that means nothing because their are so many auction houses no one person could know them all.

    The salvage title could be for anything, the truck could've taken a dunk in water which is popular for a salvage vehicle with no outward signs of problems.
    It's offered by a dealer of some type, which means it was probably owned by a buisiness not a private individual.
    Repairs were started but not complete, which means after they replaced some parts they found more damage somewhere that ran repair cost's high enough to total the vehicle.
    In the world of auctions any vehicle has the potential to be a great deal or a huge nightmare, their are no guarantees or warranties.
    With the information available I would probably bid but only knowing that even though the description says driveable the vehicle will require repairs, the description does not say "road ready" or "Street legal" a description that makes me think I could drive it home and continue to drive with no problems.

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