Quote:
Originally Posted by don911
For cars purchased at auction, is there a questimate on what dealers pay for cars? I'm looking at a car that I know was a lease return that the dealer purchased at auction. If the retail value is $30K, approx what would the auction price have been? I'm thinking the dealer paid less than 25K but I may be way off.
Anyone have experience with dealer auctions?
Thanks, Don
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As far as the specific question, IMO the Manheim numbers will give a good "guesstimate" of what the dealer paid, particularly if it is a late model, relatively high volume car.
Yes, it is not exact, that's why it's a "guesstimate." But for a 3 year old high volume lease return car that is being offered at 30K, you'd likely be able to come within $1500 of what the dealer paid for it at a lease return auction, if you ran some of the Manheim numbers.
For obvious reasons, though, the Manheim numbers are not available to the general public.
(If they are asking $30K, I think your $25K guess probably isn't too far off.)