How do I buy my off lease car through auction?
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Member
Joined: Nov 2005
Posts: 77
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From: NJ
E63
How do I buy my off lease car through auction?
My lease is almost up.
The buyout is some 68k, probably 10 more than a similar 12' with 36k is worth.
The buyout is non negotiable and the car would go to auction.
How would I go about tracking it and buying it if I wanted to? Not sure I would but thinking about it. Best car i even ever owned and very reliable.
The buyout is some 68k, probably 10 more than a similar 12' with 36k is worth.
The buyout is non negotiable and the car would go to auction.
How would I go about tracking it and buying it if I wanted to? Not sure I would but thinking about it. Best car i even ever owned and very reliable.
MBWorld Fanatic!
Joined: Sep 2009
Posts: 2,605
Likes: 112
From: LA
W213 E63
I don't think you can.
From what I'm told, your lease return will hit the dealer floor as a CPO'd vehicle. They will attach a price on her, say $68K. If they can't sell it for that price, they'll reduce the price little by little until it sells. If it doesn't sell, they will send it to auction but before they send it to auction, it will sit on their lot at the "reserve" price for a little while.
If your lease was up two months ago you'd be in good shape. Not much of a market for these cars with 10 ft of snow. Now that spring is approaching, there will be more interest. With that said, all the 2012 leases are coming due this year so there may be a surplus of the car.
Just have a conversation with the owner of the dealership. Explain your situation and he may work with you.
From what I'm told, your lease return will hit the dealer floor as a CPO'd vehicle. They will attach a price on her, say $68K. If they can't sell it for that price, they'll reduce the price little by little until it sells. If it doesn't sell, they will send it to auction but before they send it to auction, it will sit on their lot at the "reserve" price for a little while.
If your lease was up two months ago you'd be in good shape. Not much of a market for these cars with 10 ft of snow. Now that spring is approaching, there will be more interest. With that said, all the 2012 leases are coming due this year so there may be a surplus of the car.
Just have a conversation with the owner of the dealership. Explain your situation and he may work with you.
MBWorld Fanatic!
Joined: Jul 2014
Posts: 1,064
Likes: 30
From: New York, NY
2019 E63 S
I don't think you can.
From what I'm told, your lease return will hit the dealer floor as a CPO'd vehicle. They will attach a price on her, say $68K. If they can't sell it for that price, they'll reduce the price little by little until it sells. If it doesn't sell, they will send it to auction but before they send it to auction, it will sit on their lot at the "reserve" price for a little while.
If your lease was up two months ago you'd be in good shape. Not much of a market for these cars with 10 ft of snow. Now that spring is approaching, there will be more interest. With that said, all the 2012 leases are coming due this year so there may be a surplus of the car.
Just have a conversation with the owner of the dealership. Explain your situation and he may work with you.
From what I'm told, your lease return will hit the dealer floor as a CPO'd vehicle. They will attach a price on her, say $68K. If they can't sell it for that price, they'll reduce the price little by little until it sells. If it doesn't sell, they will send it to auction but before they send it to auction, it will sit on their lot at the "reserve" price for a little while.
If your lease was up two months ago you'd be in good shape. Not much of a market for these cars with 10 ft of snow. Now that spring is approaching, there will be more interest. With that said, all the 2012 leases are coming due this year so there may be a surplus of the car.
Just have a conversation with the owner of the dealership. Explain your situation and he may work with you.
Bear in mind that even You convince a deal to do this they will still want to make some profit and will never sell you the car back at an auction value. But even accounting for that the car would still be considerably less than residual value of that value is way north of market value.
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