Is There Anyway To Find Out About Auctions Or A Way To Buy Wholesale
Question: Not sure if this is the right place to ask this, but…
My wife and I are looking for a used 2004 Honda Odyssey EX-L, with decent/low miles….I’ve noticed there are lots of people in Atlanta selling lease returns for good prices so i’m guessing that honda has lease auctions there…Is there anyway to find out of there’s lease auctions in my area or a way to buy it wholesale? Thanks!
Queen of the Road: This is the best place to ask! What’s your ballpark for “low miles” on the Odyssey EX-L? For auctions, you can go to public auctions, but the only disadvantage for you is that these sort of auctions have cars from towing companies, police confiscation and damaged cars that dealers won’t bother trying to resell. I don’t recommend buy a car there. I do recommend you spend a little more money by looking into another kind of auction.
Now the auctions worth attending are the Manheim auctions for dealerships (where the good ones are). In order to be able to purchase from this private auction, you’ll need to hire someone from a big or small dealership. The reason is because you have to be a dealership to purchase vehicles from Manheim auctions. In addition, there is zero to little chance of people that are not dealers or salesmen to attend these auctions. We’ve often had people tell us they’ve gone to auto auctions but these are not the same as Manheim.
Locally, we see “Open To The Public Auctions”… they are usually a group of local dealerships who pull their unwanted cars and auction them off. There is a perceived “value” in buying cars at auctions so if local dealers can sell their excess inventory by setting up an auction then it makes more business sense. Remember, if anyone can go to the best auctions then what is the incentive for people to establish dealerships (overhead costs…etc) if there is no path to profit.
