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Thread: Buy a car from the auction!, its awesome!

  1. #1
    netchicken is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    I have just come back from Turners Auctions and am stunned at the amazingly cheap prices of auctioned cars. Its an area I hadn't investigated much before, but its certianly the way i would purchase vehicles in the future.

    We went to the under $6000 auction here in chch to get a car for a german friend, and saw many direct Jap imports, and 1996 + newer cars being passed in (not sold in auction lingo) at around $2000 to $4000. Seems that car dealers buy the cars and then add their 1/3 profit and on sell them to us.

    For the euro lovers, there was a saab 9000 passed in at $3500 (I think) heaps of festivas which sold at around $3500 to $5000. A 1990's volvo went for about $2500.

    Saw a nice 1995 Legacy, with all the works, pass in for $2500, with no bidders.

    I would do what we did, go and just see what the prices are first, there are tons of cars passing through, so another week is a new set. I was totally stunned.

    Many cars not sold (about 70% when we were there) will rotate around in a week or two. By then you have a fair idea of the reserve price. Seems cars will go for the MINIMUM listed on their windows rather than the max.

    Here is their site..
    http://turners.co.nz/

    and you can get a catalogue for the upcoming auctions online to check out.

    I was soooo tempted to get one on the spot, so tie your hands behind your back on the first time there. Try it, its an eye opener...

  2. #2
    nattydread's Avatar
    nattydread is offline God like figure
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    Default Buy a car from the auction!, its awesome!

    Did you see any Land Rovers when you were there..?

    Are Land Rovers popular in nz? I've seen a few advertised on t'interweb but not a great many...

  3. #3
    netchicken is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    You see them round, there is one for sale on the side of the road not far from my place.

    They hold their value well, but the competition here in that vehicle range is so great that they are just a minor marque.

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    Jodie's Avatar
    Jodie is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    Don't you need to be careful that you don;t buy a banger tho at auction?

    Jod

  5. #5
    netchicken is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    Jodie, I thought that too, but there were only a few cars I would class as bangers there out of about 60. Thats what stunned me, in the under $6000 range they were cars from early to mid 90's many with about 60k to 150k on the clock, not too bad for a modern car. Subaru's for example are expected to go OK up to 250K. Also many were passed in unsold at about $2500

    I saw it as a case that you get a car increadably cheap, - 2-5 thousand off the price of a car yard car, and the difference in price is a cushion against any trouble. They also had a current wof, and many had a mechanical check done on them with a rating of how good mechanically they are.

    The only modern car I woud stear clear of generally is a mitsubishi as they hid 100's of vehicle defects in their models, and their leaders are facing legal action over it. besides a friends mitsi had engine oil leaks at 60k and the mechanic said it was typical for the make.

    Other than that european cars are expensive to repair. Toyota's are the cheapest and most reliable to get.

  6. #6
    netchicken is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    After the 2nd night I am less overawed :)
    They give a price range that they expect to get say 2500-4000. There is a reserve price hidden in that price above which they will sell the car. So even if you are the highest bidder in the range, if that price is below the reserve (which you don't know until a "selling" light comes on during bidding) you don't get it.

    As a result its not a true auction, as they just set a price they want and sell the car if its above that price. You get to bargin with the seller afterwards if it doesn't reach the minimum.

    Still an awesome 4litre 1990 jag, with 64'000 miles, all leather and electronics, passed on at $4000 without any other bids. A beautiful car but need a mortgage for the petrol.

  7. #7
    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    Default Buy a car from the auction!, its awesome!

    Sounds like Fords, only they called those defects 'Our range'. :icon_lol:

    I had a Mitsubishi Galant in the UK, and it did well over 200,000 miles (about 320,000 kilometers) before I got rid of it, still running strong. The only problem I ever had with it was a fuel pump breaking down. Thats not bad, i rekon!

    Also, I've got a Mistubishi Galant now, with 75000ks on it, and it runs like a dream, with not so much as a hint of oil anywhere. Although, mine is a VR4, so it was probably put together better than some!

    There was something they brought out, although my memory is failing at my age, which was riddled with problems. Piston rings failing early, oil seals popping, gearboxes pulling away from the engine etc. But thats nothing that any new model Vauxhall/GM/Opel/Holden didnt do!

    Some auctions will give you a 7 day grace period to get the car inspected before you commit to buying, so check that option out too!
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

  8. #8
    Ruahine is offline Junior Member
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    Default Buy a car from the auction!, its awesome!

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  9. #9
    netchicken is offline Senior Member
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    Default Buy a car from the auction!, its awesome!

    We ended up getting a car from a "car fair" where private people drove their cars into a carpark and sold them. Its a nice mazda wagon, great for touring the country.

    I still thinks auctions are the first place to look. Bidding is easy, stock range is amazing, each auction (and there are about 2-3 a week selling cars under $6K) has about 50-70 cars in it.

    If you have the time to wait for the exact vehicle you want, I think its the best system. Especially after talking to a guy who works there who said how the car dealers buy them and then just add their profit on the top. You can easily pick out the junkers from the quality imports.

  10. #10
    jamesthecarman's Avatar
    jamesthecarman is offline Oh Masterful One
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    Default Buy a car from the auction!, its awesome!

    I got my last 2 cars in the US through an auction. Most recent one was a 1999 Hyundai Elantra (aka Lantra in NZ) for $3900. It was a great deal. It just had one minor problem. The previous owners hadn't changed the oil much (if ever....73K miles....110km's or so). The engine started making some bad noises after getting the oil changed. It sounded fine at the auction.

    Well, I knew a mechanic friend, and found a 2001 version of the engine with only 5,000 miles on it (8,000 km ish). So in 2002 I basically had a brand new car for $5,000 (US). It had that one minor (ok, major) problem, but things worked out in the long run.

    Now my baby is sitting in my parents yard in Orlando, waiting for me to come back home and drive her again some day. (I haven't told her she's about to go on sale).
    _______________________
    Overall I recommend going to an auction and checking it out. There are some great deals to be found, just make sure you do your research.

    And if in doubt - just say no and wait on a better deal later.

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