iCarFinder???

[Beemerboy]

I saw this on the net and looked at their site to see what they had to offer...of course you have to pay to get to the list of cars...I didn't.

Anyone ever go to auctions that sell cars like this?

Its always interested me as a way to make some extra cash...detailing and selling the cars

and sorry for the second thread today...I guess you can see that I have a little time on my hands...LOL

iCarFinder.com

[budman3]

I did a quick search (the free one) for my zip and got these cars for Ford:

Year Make Model Color Starting Bid
2001 Ford Mustang Yellow $650
2003 Ford Focus Blue $400
2000 Ford F 150 Black $500
2001 Ford F 150 Black $600
2000 Ford Expedition Silver $500
1999 Ford Mustang White $450
2003 Ford T-Bird Black $1900
2000 Ford Explorer Silver $600
2002 Ford Taurus Blue $250
2000 Ford Mustang Red $400

I then did the same thing with the zip code 90210 (the only one I know that isn't close to me) and got:
Year Make Model Color Starting Bid
2001 Ford Mustang Yellow $650
2003 Ford Focus Blue $400
2000 Ford F 150 Black $500
2001 Ford F 150 Black $600
2000 Ford Expedition Silver $500
1999 Ford Mustang White $450
2003 Ford T-Bird Black $1900
2000 Ford Explorer Silver $600
2002 Ford Taurus Blue $250
2000 Ford Mustang Red $400

The same thing... so from the limited free version they are giving us the shaft with false information... That right there makes me hesitant to use that site... none the less pay the $35 to become a member.

However, I would like to go to one of these auctions in person one day. I think it could be a very easy way to make some money. I'd just want to go and see what cars they are auctioning and for how much. It'd give you an idea of what dealers buy them for originally and how much they mark them up.

[Beemerboy]

BUD

thanks I figured as much they have auctions here in NO CA but you need a reseller licence to get in...repos and the likes of that is what I have heard...like you would like to just go look

[vwgtivw]

Most government auctions are listed for free and open to the public, you just have to do the leg work to find them. Here is the address to the GSA auctions.
http://gsaauctions.gov/gsaauctions/gsaauctions/

[CharlesW]

Originally Posted by Beemerboy

BUD

thanks I figured as much they have auctions here in NO CA but you need a reseller licence to get in...repos and the likes of that is what I have heard...like you would like to just go look

Dave:
A true "Dealer's Auction" is nothing like the auction on the link you have posted.
It will have repo's, lease end vehicles, rental cars that are being turned, high mileage cars that some dealers don't deal in, some with body damage or previous body repair that some dealers won't handle, some that a dealer just can't sell, stock from dealers that have a cash flow problem, and some that are just not very good cars.
Dealers are usually working with about a 10% margin, but bear in mind that if they have the car in inventory for any time, the depreciation can really kill them. Add the finance charges for the floor planning that most dealers need, the profit margin can become a losing proposition in a very short time.

FWIW, The following is a synopsis of the requirements for a used car dealer license in the state of Iowa.

Motor Vehicle Dealer's License To Sell at Retail in Iowa

Bond:
A $50,000 surety bond must be filed with the DOT.

Place of Business
Establish a place of business separate from any other business that includes:

An office: With a telephone answered and listed in your dealership name where you maintain regular business hours and the public can contact you. Regular business hours are a minimum of 32 hours, Monday through Friday.

A repair facility: Minimum space to repair and recondition one or more motor vehicles with adequate access, equipment and tools for repairing and reconditioning motor vehicles sold by the dealer. The interior walls and ceiling shall separate the repair shop from any area occupied for salesroom, display area or offices by floor-to-ceiling walls and solid, full-length doors. Minimum space for repair of motor vehicles shall be an unobstructed rectangular area measuring no less than14 feet by 24 feet.

A display facility: Used motor vehicle dealers: A suitable space in a building, at the principal place of business or an outside area, at the principal place of business with an all-weather surface which shall be reserved for the display of vehicles shall be 18 feet by 30 feet, exclusive of parking area. (All weather surface does not include grass or exposed soil.)

Charles

[Beemerboy]

Originally Posted by CharlesW

Dave:
A true "Dealer's Auction" is nothing like the auction on the link you have posted.
It will have repo's, lease end vehicles, rental cars that are being turned, high mileage cars that some dealers don't deal in, some with body damage or previous body repair that some dealers won't handle, some that a dealer just can't sell, stock from dealers that have a cash flow problem, and some that are just not very good cars.
Dealers are usually working with about a 10% margin, but bear in mind that if they have the car in inventory for any time, the depreciation can really kill them. Add the finance charges for the floor planning that most dealers need, the profit margin can become a losing proposition in a very short time.

FWIW, The following is a synopsis of the requirements for a used car dealer license in the state of Iowa.


Charles

Thanks Charles