Why Not to Buy an Auction Car


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Transcript

00:00
rev up your engines, today I’m going to tell you, why you shouldn’t buy an auction car
00:08
now over the years, I’ve got a lot of customers say, Scotty I’m thinking about
00:12
buying an auction car, what do you think of that, well in my entire life I bought
00:16
one auction car, but I’ve had a bunch of customers that have bought auction cars
00:21
and most of the deals ended up badly, here’s the reasons why, most auction cars
00:28
are at an auction for a reason, and it’s not a good reason
00:33
many of them are wrecked, flooded, stolen, or repossessed cars by banks and
00:39
needless to say, those cars have not been taken care of very well and they may
00:44
have been totaled by an insurance company, now whenever you’re buying a car
00:48
in this case it’s my motorcycle, it will say on the title, the previous owner in this
00:53
case, it was Gulf Coast BMW even though it was a Triumph motorcycle, and it has
00:57
the mileage on it, so I know it’s a real title, and that it’s a clean title, if
01:02
it’s been totaled it will either say salvage title, refurbish title, they have
01:10
lots of names for them, but they all mean that the car had a really big problem an
01:14
insurance company totaled it, or it was stolen and found, and now they’re just
01:19
trying to sell a stupid thing, realized with the price of modern new cars being
01:23
sky-high, everybody’s looking for a good used vehicle, so if there is a good used
01:29
vehicle out there people are able to sell it very easily because there’s lots
01:33
of people looking for them, but in an auction, they’re bought and they’re sold
01:38
quickly, the people get whatever money they can get and it’s gone, a good car
01:42
doesn’t need to go to an auction because there’s plenty of people waiting to buy
01:45
it, I’ll give you my experience with buying an auction car, it was a Toyota pickup truck
01:50
and Toyota pickup trucks generally last forever so I
01:54
figured what the heck, I was getting it for my son, it was like 1500 bucks, so it
01:58
wasn’t all that much money, but when they brought it in on a tow truck to my house
02:04
it did start, but it didn’t even have a fan belt on the alternator, because the
02:08
alternator had rusted up solid and was locked on, and it didn’t have power
02:12
steering either because that belt had fallen off, but the main problem
02:15
which you can see in this video, is that a lot of a-frame was completely rusted
02:20
away, but being a mechanic I went to a metal store and I bought this plate
02:26
steel, they cut me size as I wanted, then I welded it all together, now was a
02:32
gigantic job, and you’re not going to be doing this kind of stuff yourself, and if
02:38
you paid someone to do it correctly you’d actually have to replace the whole
02:40
frame, which would cost thousands and thousands of thousands of dollars
02:44
granted this was an out-of-state auction, it was done on the Internet
02:48
so really all I saw was the pictures they took, and of course they didn’t go
02:52
under it and take pictures to show that the frame was rotten away, but even if
02:56
you’re at the actual auction in person, they just drive lost cars through
03:00
general you don’t get much of a chance to check it out, you can’t have a
03:04
mechanic road test it and then use the scan tools to see if anything’s wrong, it
03:09
flies through, there it is and people start bidding on it, now I know
03:12
professional car dealers and they do buy cars at auctions, but they’re pros and
03:18
sometimes they’ll go to an auction and they might buy ten cars for twenty or
03:22
thirty thousand dollars total, so they’re going to sell each one of those for
03:27
anywhere from six to twelve thousand dollars a piece, even if they get a bad
03:31
one or two or three, they’re still making a healthy profit, and for professional
03:35
used car businesses, quite a few of the auctions give them a limited guarantee
03:40
whatever they payed for that car, say they paid $1,200 if they say, oh our mechanic
03:46
says there’s too much money there’s going to need to fix it up, they’ll actually
03:50
give them the $1,200 credit back for buying another car at the next auction
03:55
but I have yet to see or hear about one that does it with private individuals
03:59
who go to a car auction, it’s pretty much as is, buyer beware and have a big sticker
04:05
that says, as is no warranty, and perhaps the most hilarious story that never
04:09
happening to me was, a customer of mine went through water and it blew up the engine
04:14
in her Toyota Celica, so she sold it to a junkyard, well I get a phone call about
04:20
a month later from this guy who says, oh I got this Toyota Celica can i tow it
04:26
over and you can fix it, so he towed it over and lo and behold
04:28
it was my customers old Celica, and I knew it because I had taken the head off
04:33
the engine to see that the engine was destroyed, and I put it in a trunk and as
04:36
soon as I open the trunk, there was the head of the engine and I said, my customer got
04:40
rid of this car because it’s worth nothing now, because the engine got blown up and
04:43
flood water, what are the odds of that one, so really in this case just use
04:48
common sense, if a deal looks too good to be true, a great car for only fifteen
04:53
hundred dollars or five hundred dollars, it’s probably a bad deal to buy one in
05:00
an auction, so if you never want to miss another one of my new car repair videos,
05:05
remember to ring that Bell!

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