Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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Hi guys,
Part of my new business will also be the buying and selling of cars, i went over to a BCA ran auction today and was suprised out how cheap cars go for!. I understand there is an element of risk but does anyone else do this either as a business or on the side?
Few examples from today,
57 plate Accord CDTI, Immaculate throughout, 64k and 1 owner from new - Sold for 5.5k Cheapest on Autotrader in that spec 7.3k with more miles.
58 plate Honda Civic Type R, Immaculate again, 41k and 1 owner from new - Sold for 7.8k Cheapest on that year and spec 10k.
It seems there is money there to be earnt if you have the capital to outlay to begin with!
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RS6
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Registered: 5th Nov 03
Location: with MJ
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Yeah some good bargains to be had most are snapped up by main dealers on the day
always good to go & watch
[Edited on 19-07-2011 by RS6]
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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Yeah, there was also a 56 plate Masserati that had done 91k that went for 11.9k.
tried to start bidding at 14k no takers, someone started at 11 then won it for that price! Cheapest on Autotrader is 20k!!
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Doug
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Registered: 8th Oct 03
User status: Offline
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I would be tempted to buy a car from auction.
What are the common pit falls?
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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quote:
Originally posted by Doug
I would be tempted to buy a car from auction.
What are the common pit falls?
I would assume engine faults that can't be visually checked, that sort of thing.
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Welsh Dan
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Registered: 23rd Mar 00
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Don't forget that you get fees on top of the sale price. Not sure what they were for a £7k car, but they were £200 odd on a £700 car.
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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Just things you cant see really. If my car was fucked i would stick it down the auctions.
Tip is to buy ex mobilty cars that have been to tesco and back once a week and driven by 90 year olds!
My mondeo was called Stanley! 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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There will be 10% or so in fees.
Also probably VAT on top of it all.
Still profitable though - which is why it's full of traders doing exactly that!
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Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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I've found out that on a 500 - 2000 car you pay 5%, 2k - 5k 4%, 5k - 7.5k 3%, 7.5k - 10k 2%
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Pete_vxl
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Registered: 24th Nov 06
Location: Lochgelly, Fife
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I was at an auction last night and was amazed at some of the prices. It wasn't old cars either. There was an abundance of 2/3 beemers going for silly cheap. Astra vxr went for nearly under 2k what it would have been on auto trader too.
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s4k1b
Member
Registered: 11th Nov 02
Location: West Yorkshire
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but the prices cars are being advertised at on autotrader, arent what they are selling at, rememeber that.
another point to note - how long have they been on sale for?
as people get skinter, its getting difficult to sell cars and you see the same cars being advertised again and again.
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fazza
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Registered: 7th Feb 08
Location: Plymouth
User status: Offline
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quote:
Originally posted by Ian
There will be 10% or so in fees.
Also probably VAT on top of it all.
Still profitable though - which is why it's full of traders doing exactly that!
exactly this, a mate of mine has started doing it recently. its good and you can get some proper cheap motors but theres always the risk of problems with the cars. my mate has had to replace headgaskets/gearboxes etc and all sorts. If your going to br trading you will need to offer atleast 3 months warranty on the cars.
Oh and some cars will seem cheap but always bear in mind the auction fees etc ontop as sometimes with the fees ontop, it can wipe out any potential profits
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s4k1b
Member
Registered: 11th Nov 02
Location: West Yorkshire
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auctions arent all what they are cracked up to be.
if your a watcher - you think wow cheap.
but if your actually buying, and you tot up the costs as you go along, and take it home and advertise... i ts a different story.
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fazza
Member
Registered: 7th Feb 08
Location: Plymouth
User status: Offline
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and then when headgasket/clutch or something gives up on your way home...
Plus people that do have the cash for a new car, know they have a good bargaining tool as not many cars seem to be selling. my mate is selling fucking loads of renault scenics and lagunas from 1999 to 2005 models.(ideal cheap family cars with lots gadgets)
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jrsteeve
Member
Registered: 3rd Apr 02
Location: Manchester
User status: Offline
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bought all of my recent cars from BCA. As long as you do your homework and know what to look for you can do well out of it. Bargains aren't always around though, quite a few douche bags and dealers use them now so sometimes they don't go for much less than retail.
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