General Question - Used Auction Cars
 

This week I looked at a 2005 EXL Accord, 17231 miles.
The dealership told me they can't move much off of their asking price. He said the car was purchased at an auction on 12/6/07.
My question is...is anyone famliar with auctions these dealers attend? I was told they usually double their profit on cars purchased there.
Thanks.
Martin

RE: General Question - Used Auction Cars
 

Aloha martinks: Welcome to the forum, Hope we can all help you out, and enjoy your stay. Information you received is part true part false. Depends on how many dealers are there to bid, also how many private persons having no overhead with dealers licenses are also present. Dealers with overhead, and private persons without overhead have different amounts and limits to work with. So if a Honda Dealer has an auction car, they may have a small margin of profit to work with. Also depends on the car itself, if is a soft car, ( hard to sell, small profit ) bids will be low, if it a top of the line car that sells in days, then bids go higher. If youhave more questions, email me, I will try to answer your questions more in detail.