Comments on: How should I deal with a broker who sells cars bought from auctions? http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/ Thu, 17 May 2012 09:47:19 +0000 http://wordpress.org/?v=2.7 hourly 1 By: COLIN T http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-965 COLIN T Thu, 03 Sep 2009 03:40:03 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-965 Basically nearly all small car dealers and garages selling a few cars buy at auction to resell. There is nothing to stop you going to the auctions yourself. From this you will realise that this introduction does not mean much really. Basically nearly all small car dealers and garages selling a few cars buy at auction to resell. There is nothing to stop you going to the auctions yourself. From this you will realise that this introduction does not mean much really.

]]> By: RALPH HINRIK http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-964 RALPH HINRIK Tue, 01 Sep 2009 16:16:23 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-964 I agree with Matman. I agree with Matman.

]]> By: Deanbob http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-963 Deanbob Tue, 01 Sep 2009 03:44:40 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-963 what you may have is an unlicensed used car dealer, as nearly all new car dealers sell their unwanted trade-ins at dealer wholesale or repossession auctions, and licensed used car dealers are allowed to buy them. Other auctions may allow private buyers, but there are generally some warnings.... these are either surplus from fleets of cars, salvage titled, or donated cars, all with some reason why the owner feels they are past their prime, I have a car bought at salvage, because the car was considered a total loss, despite being only slightly damaged (but airbags deployed, so cost prevented insurer from restoring it). this is a risk I was willing to take because I know the quality of work done on the car to restore it, and am willing to take the hit on not being able to command a good resale price (no dealer will take it as a trade-in, and salvage title diminishes the value of a private party sale as well) The only time this is your only option is when you are looking for a specific model or year, and the garage is known for restoring that vehicle eg. a convertible or classic auto, or a custom built auto that has a limited market appeal.... what you may have is an unlicensed used car dealer, as nearly all new car dealers sell their unwanted trade-ins at dealer wholesale or repossession auctions, and licensed used car dealers are allowed to buy them.

Other auctions may allow private buyers, but there are generally some warnings….
these are either surplus from fleets of cars, salvage titled, or donated cars, all with some reason why the owner feels they are past their prime,

I have a car bought at salvage, because the car was considered a total loss, despite being only slightly damaged (but airbags deployed, so cost prevented insurer from restoring it).
this is a risk I was willing to take because I know the quality of work done on the car to restore it, and am willing to take the hit on not being able to command a good resale price (no dealer will take it as a trade-in, and salvage title diminishes the value of a private party sale as well)

The only time this is your only option is when you are looking for a specific model or year, and the garage is known for restoring that vehicle

eg. a convertible or classic auto, or a custom built auto that has a limited market appeal….

]]> By: fatrab http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-962 fatrab Sat, 29 Aug 2009 05:09:34 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-962 Irrespective of whatever this guy calls himself, he is a motor trader and is bound by the same laws as every other one in the UK. Check out the Sale of Goods Act 1979, The Supply of Goods and Services Act 1982 and, most importantly, if you have a bad feeling about the car or the seller - walk away. Instinct is one of the best tools we develop in life! Hope this helps EDIT. If the guy has a good reputation then you've nothing to worry about, good luck with your new car if you decide to get it. Irrespective of whatever this guy calls himself, he is a motor trader and is bound by the same laws as every other one in the UK.

Check out the Sale of Goods Act 1979, The Supply of Goods and Services Act 1982 and, most importantly, if you have a bad feeling about the car or the seller - walk away.

Instinct is one of the best tools we develop in life!

Hope this helps

EDIT. If the guy has a good reputation then you’ve nothing to worry about, good luck with your new car if you decide to get it.

]]> By: john i http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-961 john i Thu, 27 Aug 2009 02:02:19 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-961 Ask to speak with some of his customers who have had cars from him. A car from such a Broker should be cheaper than any main dealer and even slightly cheaper than buying privately. Ask him if he offers any guarantee. Do not let him buy any repossed or stolen and recovered cars as they may have been thrashed. Dealer part-ex`s are best. Check that any car bought has warranted mileage and log book is present. Ask to speak with some of his customers who have had cars from him. A car from such a Broker should be cheaper than any main dealer and even slightly cheaper than buying privately. Ask him if he offers any guarantee. Do not let him buy any repossed or stolen and recovered cars as they may have been thrashed. Dealer part-ex`s are best. Check that any car bought has warranted mileage and log book is present.

]]> By: matman http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/comment-page-1/#comment-960 matman Tue, 25 Aug 2009 07:35:09 +0000 http://www.businessbrokersguide.com/blog/how-should-i-deal-with-a-broker-who-sells-cars-bought-from-auctions/#comment-960 Buy an extended warranty from a third party and consider that part of the purchase price. If the two add up to more than you are willing to spend, then it is not a good deal. Insist on a carfax report that shows all inscurance claims made for the VIN of the vehicle. Cars bought at auction could have serious frame damage, water or smoke damage too. Great that the guy can fix the cars, but unless you get something in writing that says he will do it for free it doesn't mean a thing. EDIT: He is a middle man, you can pay a small fee and buy a car at an auction and eliminate the middle man mark up if you want to do your homework. Either way inquire about an extended warranty first and call that part of the 'price'. Buy an extended warranty from a third party and consider that part of the purchase price.
If the two add up to more than you are willing to spend, then it is not a good deal.
Insist on a carfax report that shows all inscurance claims made for the VIN of the vehicle.
Cars bought at auction could have serious frame damage, water or smoke damage too.
Great that the guy can fix the cars, but unless you get something in writing that says he will do it for free it doesn’t mean a thing.

EDIT:
He is a middle man, you can pay a small fee and buy a car at an auction and eliminate the middle man mark up if you want to do your homework. Either way inquire about an extended warranty first and call that part of the ‘price’.

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