RS4 @ auction

[wkornfeld]

So I was at an auction in Phoenix...

2007 RS4, Ibis White, 13,000 miles. Any ideas what it went for at auction? (which is what gives dealers there estimates on trade in values when if we take our cars in for trade)

$41,000

And no, this wasn't a crashed, problematic, or shitty car auction. It's one of the top lease return, bank owned, and hi-line auctions in the state. I can promise that this is where most of the local audi dealerships we know of are getting their used cars. There's one other major auction, but I won't name it. It's in CA and cars will go for usually 1-2k more just because of the "hype" of that auction.

[iconoclast]

dealer trade-ins seem to be a bit lower around here.

[Spaceman]

So I was at an auction in Phoenix...

2007 RS4, Ibis White, 13,000 miles. Any ideas what it went for at auction? (which is what gives dealers there estimates on trade in values when if we take our cars in for trade)

$41,000

And no, this wasn't a crashed, problematic, or shitty car auction. It's one of the top lease return, bank owned, and hi-line auctions in the state. I can promise that this is where most of the local audi dealerships we know of are getting their used cars. There's one other major auction, but I won't name it. It's in CA and cars will go for usually 1-2k more just because of the "hype" of that auction.

Wish I was there...

You didn't want to pick it up?

[charliemike]

I don't know what the market is gonna end up doing here but in the UK it's fallen through the floor.

Guy I know of bought a 911 Carerra for 56k pounds in England 9 months ago. Selling it on ebay now (he's an idiot) starting bid is 19k ... Buy it now is 28k I think. 9 months old.

[drew]

So I was at an auction in Phoenix...

2007 RS4, Ibis White, 13,000 miles. Any ideas what it went for at auction? (which is what gives dealers there estimates on trade in values when if we take our cars in for trade)

$41,000

And no, this wasn't a crashed, problematic, or shitty car auction. It's one of the top lease return, bank owned, and hi-line auctions in the state. I can promise that this is where most of the local audi dealerships we know of are getting their used cars. There's one other major auction, but I won't name it. It's in CA and cars will go for usually 1-2k more just because of the "hype" of that auction.

i would have that car thoroughly checked out. i don't trust auction cars one bit...

[iconoclast]

2nd. if the dealers not willing to put it on their lot, im not sure im willing to put it in my garage.

[wkornfeld]

2nd. if the dealers not willing to put it on their lot, im not sure im willing to put it in my garage.

THIS IS WHERE DEALERS BUY USED CARS TO HAVE ON THEIR LOTS...

I know for a fact, Penske, Mckenna, Miramar, and chandler are regulars at auction lots.

Lol, I was trying to explain this to begin with. I was there with my dad who was buying an A4. His friend owns a dealership in AZ which is how we got there to begin with. The cars get a complete inspection and everything is noted on the car to begin with(i.e. frame damage, etc). Also, you get online and full carfax and vehicle history reports are available at no charge. Get the idea out of your head that auctions are only for junk. Think about this, if banks could easily get rid of a vehicle in a couple of minutes even though they have to take a smal hit, would they... answer is.... DUH! Lest we not forget that EVERY CAR STILL HAS A MANUFACTURERS WARRANTY! lol.

So for anyone else that wants to continue to be close minded instead of asking questions without knowing any better.... take a stab at it.

[wkornfeld]

Wish I was there...

You didn't want to pick it up?

I didn't go there expecting it to be there... nor was I expecting it to sell that low. You can go to the auctions website and it will give you the selling history for that car in the last year, hi's, lows, etc. I only looked at the car the day before the auction and drove it around the lot. Had I known there would've been such a rare car there... I would've tried to secure it. It was only the morning after that I asked my dads friend to tell me how much it went for when he was bidding.

[sakimano]

yeah, those auctions are a great place to buy cheap cars. The grand majority of the cars are either

a) lease returns
b) corporate fleet cars from manufacturers
c) stock that dealers don't want (i.e. BMW dealer takes Audi on trade, but doesn't want to put it on the lot)

They're not junk auctions...very different.

Of course they're also a great place to buy slightly fucked up cars that will cost you $3000 right out of the box just to get it into showroom floor shape.

i.e. bald tires, battery is fkt up, few light scratches and door dings but otherwise looks perfect. Although, it may be on the verge of a clutch job (you don't get to check at an auction...you just bid)

This can equal $2000-4000 to make it 'perfect' so your $41,000 car just cost $43,000-45,000. Also, aren't there auction fees for buyer and seller?

The dealer takes care of most of that before they stamp it CPO. A 2007 RS4 can be had for $47-48k CPO already at dealers, and those cars are CPO purified...and have uber-warranty. Hell you can get a new 2008 for $59,000 as we've found here on the forums.

there are lots of great cars on there, but even great cars need work, so don't be fooled by that $41,000 price tag...there's always more behind it before you compare it to a CPO car.

[iconoclast]

THIS IS WHERE DEALERS BUY USED CARS TO HAVE ON THEIR LOTS...

and where do they come from? other dealers that didnt want them from lease return or trade-in etc. typically bc theyre too much money out of pocket to get up to cpo standards or sellable condition...

[wkornfeld]

and where do they come from? other dealers that didnt want them from lease return or trade-in etc. typically bc theyre too much money out of pocket to get up to cpo standards or sellable condition...

These come from the banks. When you get a lease, a bank is technically the owner of a vehicle. It doesn't necessarily go back to the dealership and go right onto the lot. This is why buying a lease return has advantages because they want to get rid of it, not sit on it. Especially if the dealership decides they don't want to buy it back from the bank for the given amount. Then it goes to auction. Imagine if they could do it with homes... you know they would. And CPO is still standard for whatever the remaining warranty period is. It's only when a vehicle is past it's initial manufacturers warranty that it costs money to bring it up to CPO and a lot of times that money is going to AUDI to allow the vehicle to be CPO, not towards fixing the car.

[mtxsho93]

and where do they come from? other dealers that didnt want them from lease return or trade-in etc. typically bc theyre too much money out of pocket to get up to cpo standards or sellable condition...

Yes but that does not indicate that there is a problem with the car. If a BMW dealer took a Chevy Cavalier in on a trade for an M5, that dealer isn't going to be able to move the Cavalier on their own lot. Why not? Because most people don't go shopping for used Chevy Cavaliers at a BMW dealership and most people looking to buy a BMW at a dealership probably won't reconsider and settle on the Cavalier. The BMW dealership would have better luck selling the car at an auction to a dealer who can move the car more easily. It's a win-win situation for the BMW dealership and the new owner who can pick up the car and sell it for a profit.

Ian

[sakimano]

actually most auction cars aren't from banks, and most lease deals are direct through the manufacturer's finance company. That's who puts these cars to auction after lease return, not banks. i.e. VW Finance, GMAC, FMAC, Honda Finance etc...

These come from the banks. When you get a lease, a bank is technically the owner of a vehicle. It doesn't necessarily go back to the dealership and go right onto the lot. This is why buying a lease return has advantages because they want to get rid of it, not sit on it. Especially if the dealership decides they don't want to buy it back from the bank for the given amount. Then it goes to auction. Imagine if they could do it with homes... you know they would. And CPO is still standard for whatever the remaining warranty period is. It's only when a vehicle is past it's initial manufacturers warranty that it costs money to bring it up to CPO and a lot of times that money is going to AUDI to allow the vehicle to be CPO, not towards fixing the car.

[sakimano]

happens ALL the time... ;)

...if a BMW dealer took a Chevy Cavalier in on a trade for an M5...

[sakimano]

and where do they come from? other dealers that didnt want them from lease return or trade-in etc. typically bc theyre too much money out of pocket to get up to cpo standards or sellable condition...

not the case. you're fear mongering

most cars that are CPO vehicles are NOT trade ins. CPO cars are usually under 5 years old. Not a lot of people who buy cars outright trade them in within 3 years...

the CPO inventories mostly come from lease returns

lease returned vehicles go to auctions - Audi has a big one every week - and are then bought by dealers and CPO refurbished. Then sold to people like you who thinks 'ewww...auction cars...'

[AvanTTix]

so how does one get in on these auctions?

[iconoclast]

not the case. you're fear mongering

you caught me, the jig is up.

so how does one get in on these auctions?

the good ones are not open to the public, you have to be a dealer. so you would have to get a dealer tax id and set up an account at one of the auction sites.

[KlAzE1]

so as far as getting a good deal through the auctions for a personal car it is pretty much out of the question?

[iconoclast]

there are public auctions but the private ones are better.

[Maverick]

great info guys. I have been looking cars from CA.
I will not buy a used car from the North East, cars get so F'ed here.

[...Mark...]

I have my buddy's log on id for the manheim auction in Florida and $41k is right on par w/ what they are going for.

[wkornfeld]

I have my buddy's log on id for the manheim auction in Florida and $41k is right on par w/ what they are going for.

Same here Mark...
I have a login for MetroAA in phoenix. This last week they had a sale of over 150 audis and a couple hundred v-dubs. My dad bought an 07 A4.

And, sakimano, the dealers finance companies are 'banks'.... that's what I was referring too. Sorry for the confusion on wording

[AvanTTix]

I have my buddy's log on id for the manheim auction in Florida and $41k is right on par w/ what they are going for.

Same here Mark...
I have a login for MetroAA in phoenix. This last week they had a sale of over 150 audis and a couple hundred v-dubs. My dad bought an 07 A4.

so are either of you willing to take requests??? here's mine anyway... obviously it's understood there's a finder fee...

[...Mark...]

so are either of you willing to take requests??? here's mine anyway... obviously it's understood there's a finder fee...

Already received one via PM.. lol

I'll see if there is anything coming up next week and get back to you.

[NewEnglandRS]

So did the Ibis RS4 go to a private individual or dealer?

[wkornfeld]

So did the Ibis RS4 go to a private individual or dealer?

They can only go to dealers.... first....

As with my dad, his friend purchased it through his dealership, which he then extended the discount to my father. 07 A4 6MT w/17k for $20k

[JetBlue]

$41K is right inline with the current market. If you are paying over $45K private party for an RS4 it is over market.

[rbells4]

If anyone is interested in buying a car or even researching auction prices (I know a lot of people who have done so with no complaints) then PM me. There's a guy on AW who is a dealer but looks specifically for what you want. =)

[...Mark...]

so are either of you willing to take requests??? here's mine anyway... obviously it's understood there's a finder fee...

Looks like the last S4 that sold at Manheim was an cab in mid November. I'll keep an eye out for you tough. If i see something i'll pm you.

[nimski62]

Dads a car dealer here in ft wayne. Lease return (no, once again not piece of shit cars) 2007 A8s with 25k go for about 35k. 2007 a4 2.0t avant i watched with 18k go for 16500. With this economy, there are deff killer deals out there.

[iconoclast]

$41K is right inline with the current market. If you are paying over $45K private party for an RS4 it is over market.

trade-ins with 20k+ miles are getting ~$35k...

[sakimano]

trade-ins with 20k+ miles are getting ~$35k...

wow. where'd you get that info?

[iconoclast]

car broker/dealer. check around, youll see that number is accurate.

[sakimano]

that's disgustingly cheap. Good value there.

[iconoclast]

im hoping after the new year theres a lil bit of a push lower...

[JetBlue]

Sounds like they are falling fast. That $35K is a good data point.

[VVG]

So I was at an auction in Phoenix...

2007 RS4, Ibis White, 13,000 miles. Any ideas what it went for at auction? (which is what gives dealers there estimates on trade in values when if we take our cars in for trade)

$41,000

And no, this wasn't a crashed, problematic, or shitty car auction. It's one of the top lease return, bank owned, and hi-line auctions in the state. I can promise that this is where most of the local audi dealerships we know of are getting their used cars. There's one other major auction, but I won't name it. It's in CA and cars will go for usually 1-2k more just because of the "hype" of that auction.

Just a sign of the times. People just don't want to part with their money right now. Prices on most anything are going to have be dirt cheap if there is any chance of selling. If you have the cash, it's actually a very good time to buy.

[Hamann]

trade-ins with 20k+ miles are getting ~$35k...

show me one RS4 with 20k miles for $35k.

I'll bet the farm...

[iconoclast]

hold on there old mcdonald... i said 'trade in'; not what theyre selling for.

[sakimano]

show my one RS4 with 20k miles for $35k.

I'll bet the farm...

his point wasn't regarding asking price on autotrader ads...he's referring to what dealers will give you on a trade in.

now where is this farm?