Return-Path: Received: from GS58.SP.CS.CMU.EDU by K.GP.CS.CMU.EDU id aa29117; 29 Apr 93 12:21:29 EDT From: Michal Prussak Date: Thu, 29 Apr 93 12:21:08 EDT To: bovik@GS58.SP.CS.CMU.EDU Subject: Car Auctions for bovik database In article atul@CS.CMU.EDU (Atul Sudhalkar) writes: > >i need to buy a car, and have decided to buy it used. since i've >recently got a job, the price isn't of moment, only that i get a good >deal on a good car. i want to buy a hatchback, prob. around a 1.8 >liter engine. i don't care whether it's an automatic or a manual >transmission. i'm kind of used to manual myself. > Well, it's probably obvious but I'll say it anyway: You pay the highest prices at the dealer, high, moderate and low prices from a private seller, and lowest prices at car auctions. I would also conjecture that cars at dealers would have the most hidden problems, while cars bought privately or at an auction have a better chance of being problem-free. Consider what cars and up at used car dealer's lot - the cars whose owners were fed up with the cars and traded them for something else. The dealer is guaranteed to hide all existing problems and make the car look pretty, while a private seller would usually tell you at least some of the problems. The cars at auctions - the bank repo's - are taken away from bankrupt folks as is. So, chances are these cars were running resaonably well. No problem-spots are usually covered-up, but you can't ask anyone about the problems, nor can you test-drive the car. At some auctions they write on the cars if they have any serious problems. So there is some risk buying at auctions, but I believe that the low prices justify the risk. I am myself a fan of car auctions, especially the auctions with bank reposessions. If anyone is interested in car auctions, here are the ones I know of: Pennsylvania Public Auto Auction, on Rt 30 (825-DEAL). The auction is every Wednesday at 6pm and Saturday at 12 noon, opening on Wednesday at 4pm and Saturday 10 am. I was there only once. They had about 80 cars on one day (that's a lot), mostly between 84-89. This auction is unlike all other auctions I've been to: all cars look very pretty, just like at the used dealer's lot. A few of them looked like they were just recently fixed up from a wreck - all fixes looked cheap and superficial. The auction charges exorbitant fees, totaling between $300 and $400. Most of the buyers are private people, almost no dealers. That's because the prices for most cars are above their wholesale value. HOWEVER, most people who buy there don't know the book value of a car, so it's possible to get an excellent deal at that auction, especially with expensive cars - the one time I've been there, a $7000 Mercedes was sold for $5200 + $400 fees. ($7000 is the wholesale value). You can pay for cars with a credit card, with an extra 2% fee! Greater Pittsburgh Auto Auction, southeast from Pittsburgh. I think this is on Thursday mornings, you can look at cars on Wednesday evening. There is a $75 registration fee to participate in the auction, of which $50 is refundable (registration is valid indefinitely). I don't remember buyer's fees, but they seemed to be reasonable. If you win bidding on a car, you have to pay 25% of the bid ON THE SPOT, and the rest with a cashiers check within 2 hours. There is also a $5 fee just to come and look at the auction. I've never been at the auction itself, I only looked at cars there and the prices they were sold for - the prices seemed a little too high, but it's possible to find a good deal at that auction. I never went there because of the registration fee and only 2 hours to pay for the purchase. They have both dealer's cars and bank repo's and it's possible to tell which are which. Cars with defects usually are marked. Most cars are cleaned very nicely, but no defects are fixed, and no cars are painted. They have about 80 cars each time. Skipco Auction, in Canal Fulton Ohio (near Canton, 1:50 hr drive) This one is my favorite - I bought my car there. No registration fee, no entrance fee. If you win the bid, you must pay $100 deposit, and pay the full price within 3 days. The auction is on Saturday's at 10am. Prices are reasonable for most cars, and you can get some very good deals (depending how patient you are). They have about 50 cars every time, and also some wrecks and broken-down cars. About half cars are bought by dealers. ONLY BANK REPO'S. Cars with defects are marked. Canfield Auto Auction, in Yougstown, Ohio Also a very reasonable auction - every other saturday at 11am. Same terms as at Skipco's. They usually have between 40-80 cars. Some good deals can also be had there. Probably only bank repo's. Fairly similar to Skipco's.