Lexus auction
#1
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Lexus auction
I see cars offered for sale all the time being purchased at a auction in Florida. You look at the carfax that they listed and would say purchased at auction. I would like to buy a used 2013 Lexus LS 460 at a reasonable price. Was thinking of going to auction or have someone go for me and see if I could find one. Anyone ever hear of this or been to a Lexus auction in Florida? Is the cheaper price of the LS at auction worth it if it has low miles?
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Jarm
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Jarm
#3
I am not familiar with FL auctions, but in some states they are not open to the public. You have to be in the auto business to even get in.
If you can get in, a few cautions. Typically you cannot drive the car, and even visual inspection may be limited. Also be aware that if a new car dealer takes a car in trade, they only keep the premium ones. Cars with problems go straight to auction. So if you see a 2013 LS with low miles at an auction, something is probably wrong with it. Also, since they don't know you, bring cash and be prepared to get it off their property that same day.
If you can get in, a few cautions. Typically you cannot drive the car, and even visual inspection may be limited. Also be aware that if a new car dealer takes a car in trade, they only keep the premium ones. Cars with problems go straight to auction. So if you see a 2013 LS with low miles at an auction, something is probably wrong with it. Also, since they don't know you, bring cash and be prepared to get it off their property that same day.
#5
I think you pretty much have the scoop. I worked for Manheim Auctions in West Palm Beach, FL, I believe the largest, for a while after I retired. Their auctions do consist of many "off leases" which are brought in by Ford, GM, etc. But trust me, you cannot step one foot on their properties unless you are a dealer. Dealers, when I worked there, couldn't even bring in a friend. Obviously, dealers don't want the general public buying cars at wholesale prices.
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#9
Lead Lap
I had a 460 and a 600...both passed through Manheim auction lot. The 600 was purchased as CPO, but I knew the dealer picked it up at highline manheim. Auction. I've had great success. There are mobile auction inspection services...or buy from a broker and you'll still save thousands
Last edited by CJITTY; 01-15-15 at 02:46 AM.
#10
I am not familiar with FL auctions, but in some states they are not open to the public. You have to be in the auto business to even get in.
If you can get in, a few cautions. Typically you cannot drive the car, and even visual inspection may be limited. Also be aware that if a new car dealer takes a car in trade, they only keep the premium ones. Cars with problems go straight to auction. So if you see a 2013 LS with low miles at an auction, something is probably wrong with it. Also, since they don't know you, bring cash and be prepared to get it off their property that same day.
If you can get in, a few cautions. Typically you cannot drive the car, and even visual inspection may be limited. Also be aware that if a new car dealer takes a car in trade, they only keep the premium ones. Cars with problems go straight to auction. So if you see a 2013 LS with low miles at an auction, something is probably wrong with it. Also, since they don't know you, bring cash and be prepared to get it off their property that same day.
The only cars that I test drove that didn't go to auction were those that were trades to non Lexus dealers and they were not CPOs.
The car I bought came from a dealership that buys cars from auctions and sells them at a reduced cost to the customer. I was much better served with a much lower priced, lower mileage and earlier year car that was in much better condition then what the dealer offered.
#11
Good point Devh. I was focused on cars that a Lexus dealer sends to auction. Many other premium car dealers may not want or need a Lexus on their lot and send the car out.
#13
I did a brief search and although what I read was hearsay it appears that financed as well as leased cars are owned by a holding company that sends them to auction. The dealer then has to re-acquire the car though the auction process. I think the dealer knowing the car condition first hand before the auction gives them the advantage to bid more for a sure thing and that is why it ended up back to the original dealer.
It makes me wonder if some of the auctions is done through the computer rather then physically transported to an auction house.
Last edited by Devh; 01-14-15 at 09:45 PM.
#14
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Does anyone know of a broker that could get me a 2013 LS at auction? Right now there are many being sold as lease trade ins.
Could you tell me the code for Mark Levinson System on the sale sicker?
Jarm
Could you tell me the code for Mark Levinson System on the sale sicker?
Jarm
Last edited by CJITTY; 01-15-15 at 04:08 PM.
#15
I would have thought the same thing but when I seen the same car traded back by the dealership having auction history only to be bought back by the dealership aroused my attention.
I did a brief search and although what I read was hearsay it appears that financed as well as leased cars are owned by a holding company that sends them to auction. The dealer then has to re-acquire the car though the auction process. I think the dealer knowing the car condition first hand before the auction gives them the advantage to bid more for a sure thing and that is why it ended up back to the original dealer.
It makes me wonder if some of the auctions is done through the computer rather then physically transported to an auction house.
I did a brief search and although what I read was hearsay it appears that financed as well as leased cars are owned by a holding company that sends them to auction. The dealer then has to re-acquire the car though the auction process. I think the dealer knowing the car condition first hand before the auction gives them the advantage to bid more for a sure thing and that is why it ended up back to the original dealer.
It makes me wonder if some of the auctions is done through the computer rather then physically transported to an auction house.
Well in 2007 the code was MH, but I don't know if it is still the same.