Forum Discussion
blofgren
Jan 17, 2016Explorer
Lantley wrote:
Auction vehicles all not all bad. There are some very large auctions like Manheim in PA that are basically clearing houses used to put leased and used vehicles back into circulation. The auto industry could not function without large auction/clearing houses.
Banks,Large dealers, Factory credit houses all use auctions to quikly circulate/sell cars on a wholesale level.
What do you think GMAC,Ford Motor Credit, do with off lease cars when they are returned from lease? They do not go back to the dealer the dealer doesn't own the car.
They are sent to auction where all dealers with a license have a chance to buy them at fair market/auction value.
The truck mentioned by the OP could have been sold at auction simply because it came off a 1 year lease.
Reputable dealers do not buy junk cars because they don't want the headache associated with selling a bad car.
I have been to large auctions many times the quality and amount of cars is staggering. Yes there is some junk. There are also classics and cream puffs.
But truthfully there are all types of cars. Mostly in good condition. These cars are trades, and off lease for the most part. a Large auction is really a clearing for banks and financial institutions. It is a means to get cash value for the cars and put them into the resale market.
This is exactly right. We bought our Acura MDX from a Honda dealer who had bought it from a dealer auction. It was an Acura lease return and apparently most of the lease returns are sold at dealer auctions. The car was in great shape and has been a fantastic vehicle.
OP, I would take the VIN to a Ram dealer and have them run it. If it was clean I wouldn't hesitate to deal on it. You will love the truck.
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