Car sales, whether or not they be physical or on-line, generally is a good way of selling your vehicle, safe knowing that an experienced auctioneer has yours, along with the auction house's, best interest at heart. You may be thinking that these things don't invariably necessarily go hand in hand but bear in mind how the auction house will take a percentage in the purchase price (buyers fee) as commission making it in their interest to provide you as much money as it can be!
So, let's begin with the basics:
What is a car auction?
Car auctions have a long history inside the automotive industry with many different types of business with them to either sell excess stock or purchase new stock for resale.
They're extremely popular in america and Japan and so are gaining popularity in great britan where these are no longer seen as dirty places. This is mainly on account of the industry building a concerted effort to switch the reputation of the sector to make it more inviting to all people, not simply those 'in the trade'.
Car auctions sell cars, commercial vehicles, motorcycles, plant equipment, and some of them will also sell large goods vehicles and possibly caravans and motorhomes.
Auction houses will not own the vehicles they will sell. They just act as a shop front for several different types of seller. These may include leasing companies, fleet management companies, dealer groups, banks and banking institutions, governmental bodies, police, and lastly private individuals.
Let us check each of these different sellers more closely:
Leasing Companies
Leasing companies rent vehicles to companies or private drivers for just a set period of time (sometimes as few as 1 year) hence the vehicles place into auction usually are young models with an above average mileage and also, since the cars tend to be leased from new, they can have only had an individual driving them whilst going to a meeting twice per week! Once the lease or rental period ends, leasing companies will enter their old stock into auction as their customers are more interested in leasing completely new vehicles. They then are usually owned by banks or banking institutions.
Fleet Management Companies
These are similar to Leasing companies in this they lease their stock to organisations but differ because they will supply their clients with a whole number of cars and manage that fleet for their client. Again, if your rental period for that fleet ends, the firms wish to use the capital covered by their stock in order to replace it with new models.
Dealer Groups
If you have ever part exchanged your old car at on the list of large, glass fronted dealers or showrooms, chances are it has subsequently been placed into auction and sold. Dealer groups will even enter old or unsold stock (called overage) from their forecourts so as to keep their showrooms looking fresh while using latest which the manufacturer(s) have to give. Of course, investing in a vehicle at auction that is entered by way of a dealer group can be a bit riskier as opposed to leasing or fleet companies as if someone has part exchanged their old car, you must ask yourself why did they generally do it, what sort of person where they, how well did they make it and how many previous keepers has it had?
Banks and financial institutions
Banks and finance institutions can fit in fleet and leasing companies numerous of them have these elements within their respective corporate families and follow the same trends. However, banks may also enter cars into auctions that have been repossessed using their company customers after defaults on loan or home loan repayments. Obviously an automobile itself is of minimum interest to some bank, they can be only enthusiastic about the value and also the money that may be made from it.
So, let's begin with the basics:
What is a car auction?
Car auctions have a long history inside the automotive industry with many different types of business with them to either sell excess stock or purchase new stock for resale.
They're extremely popular in america and Japan and so are gaining popularity in great britan where these are no longer seen as dirty places. This is mainly on account of the industry building a concerted effort to switch the reputation of the sector to make it more inviting to all people, not simply those 'in the trade'.
Car auctions sell cars, commercial vehicles, motorcycles, plant equipment, and some of them will also sell large goods vehicles and possibly caravans and motorhomes.
Auction houses will not own the vehicles they will sell. They just act as a shop front for several different types of seller. These may include leasing companies, fleet management companies, dealer groups, banks and banking institutions, governmental bodies, police, and lastly private individuals.
Let us check each of these different sellers more closely:
Leasing Companies
Leasing companies rent vehicles to companies or private drivers for just a set period of time (sometimes as few as 1 year) hence the vehicles place into auction usually are young models with an above average mileage and also, since the cars tend to be leased from new, they can have only had an individual driving them whilst going to a meeting twice per week! Once the lease or rental period ends, leasing companies will enter their old stock into auction as their customers are more interested in leasing completely new vehicles. They then are usually owned by banks or banking institutions.
Fleet Management Companies
These are similar to Leasing companies in this they lease their stock to organisations but differ because they will supply their clients with a whole number of cars and manage that fleet for their client. Again, if your rental period for that fleet ends, the firms wish to use the capital covered by their stock in order to replace it with new models.
Dealer Groups
If you have ever part exchanged your old car at on the list of large, glass fronted dealers or showrooms, chances are it has subsequently been placed into auction and sold. Dealer groups will even enter old or unsold stock (called overage) from their forecourts so as to keep their showrooms looking fresh while using latest which the manufacturer(s) have to give. Of course, investing in a vehicle at auction that is entered by way of a dealer group can be a bit riskier as opposed to leasing or fleet companies as if someone has part exchanged their old car, you must ask yourself why did they generally do it, what sort of person where they, how well did they make it and how many previous keepers has it had?
Banks and financial institutions
Banks and finance institutions can fit in fleet and leasing companies numerous of them have these elements within their respective corporate families and follow the same trends. However, banks may also enter cars into auctions that have been repossessed using their company customers after defaults on loan or home loan repayments. Obviously an automobile itself is of minimum interest to some bank, they can be only enthusiastic about the value and also the money that may be made from it.
About the Author:
Learn more about Yatch Auctions. Stop by Avis Fryar's site where you can find out all about Best Buy Auction and what it can do for you.
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