Conclusion: Going to my first auction. Will the Malibu sell?
HTML-код
- Опубликовано: 20 сен 2024
- AS new business owners we get to experience fun and new things. We go to the auto auction for the first time to rep our malibu that we decided not to retail.
▬▬▬▬▬▬▬▬▬▬▬▬▬
Get your Car Buying Cheat Sheets chevydude.com/
▬▬▬▬▬▬▬▬▬▬▬▬▬
SUPPORT THE CHANNEL using this link every time you buy on Amazon, Just click the link and buy whatever you want. (bookmark it) , Just click the link and buy whatever you want.
www.amazon.com...
▬▬▬▬▬▬▬▬▬▬▬▬▬
𝘊𝘢𝘳 𝘉𝘶𝘺𝘪𝘯𝘨 𝘛𝘪𝘱𝘴 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘪𝘯-𝘥𝘦𝘱𝘵𝘩 𝘥𝘪𝘴𝘤𝘶𝘴𝘴𝘪𝘰𝘯𝘴:
𝗙𝗮𝗰𝗲𝗯𝗼𝗼𝗸 𝗚𝗿𝗼𝘂𝗽: / carbuying101
𝗗𝗶𝘀𝗰𝗼𝗿𝗱: / discord
▬▬▬▬▬▬▬▬▬▬▬▬▬
FOLLOW ME everywhere:
ChevyDude.net
#Chevrolet #Louisville #mikescarstore
I am the owner of Mike's Car Store In Georgetown, In. We sell used cars near Louisville Ky and ship nationwide. we look forward to helping you. mikescarstore.com
Buying a Car Doesn't Have to Suck™
I have been buying cars for over 40 yrs. I still learn something on every transaction . Sometimes you win and sometimes you lose. That’s the life of buying a car.
Amen. I love learning new things. We have having nothing but fun 🤩
That's life in general
Fun stuff show us more of this
You must make more then what you lose buying and selling cars for 40 years.
@@leacole5583 I’m not in it to make money but you are probably right
You did great for your first auction. You learned how they work an what to expect. Considering how the other company screwed you over. Your going to make mistakes along the way. Keep up the good work.
Consider this a win. You learned, you didn't take to much of a bath on the Mannheim car. And you now have a local source for quality inventory. Win win!
I personally think you did well when accounting for all that rust. This auction brings back memories for me as I worked at a huge auction house in California back in the day. A lane was always the best cars/trucks. We even had a pure sale lane which meant if a high bid is $25 it sold 😬. Us who worked there called it the pure junk lane lol.
Great video I appreciate the upload.
Thank you for letting us hang out with you on that day. I enjoyed it. Please take us out there again. 🙏🏽
I'm really enjoying where the channel is going. The new videos are much more entertaining than the older ones. Pretty neat seeing the car world from a business owner perspective as opposed to a salesmen perspective. Keep the videos rolling you got me hooked!
Thanks for sharing! It's just a small bump in the road. You got this, hang in there!
For being in industry as long as you have, I was a little shocked this was your first auction. Thanks for taking us along though bru!
He was a salesman, wouldn't have had a dealer license.
@@ldkellandshaw don’t disagree, but even salespeople go to the auctions sometimes. For the amount of years being in the industry, it was just surprising to me.
@@P4SDetails Correct. These places are not Fort Knox. A friend of mine use to work as a contractor for Adesa and walk in and out of the auctions houses all the time. You have to show some kind of credential and purpose to get in, but of course to actually bid in you have to be license. In the end its not a big deal
The revenue you made from the 2 videos worth of content from that car will put you in the positive for that transaction. Plus you and many of your viewers got to experience their first auction. I call that a win!
Auctions have essentially eliminated the wholesalers with their buy and sell fees, the auctions are the only ones making money on wholesale.
Glad you didn't lose your behind!
Mike, you can make money taking your clients to the auctions. Here in NJ they charge you $500.00 to go to the auction and they have to pay fees too. Start doing this a couple of times a week and whether they buy or not is not your issue.
Eh, that’s a huge pain in the a** bringing customers to a wholesale environment. Plus some auctions don’t even allow that.
@@mph5896 And you will get all other dealers angry with you. It needs to stay a wholesale environment.
That's a big risk. Allowing a retail buyer to bid under your license is asking for trouble and could wind up getting you banned from the auction and potentially get your license in trouble with the state.
I started my own business 50 years ago, and I still find this exciting.
Auctioneers are famous for talking extra fast. I once saw a tv news story on an auction training school opening. There are actual schools where people learn to talk that fast.
I think with all your knowledge and drive to do well and help others it’s only one step back before you take two steps forward !
You're getting educated for sure! Glad to hear it sold.
Congratulations on selling the car. At least you are out of it with a little loss and better education. Thank you for sharing that education with us.
I used to watch the channel once and while but now I watch every video you put out and look forward to them.
Hey mike, connect with the guy that runs the flying Wheels RUclips channel. He is also an entrepreneur dealer, and is very good at working through auction issues. You guys are not in the same market so he might help you. Remember there's nothing wrong with asking for help for somebody who's been doing it a while as an independent.
Enjoy your channel. I'm a Finance Manager for a great dealership here in Akron Ohio. Take care and make that money!!!!!
I use to drive for dealerships back in the day that was many moons ago but Ii learned a lot every fast
12500 for a rusted Malibu, holy cow it's crazy out there
RIGHT Everything is way over valued right now, it's gonna drop soon and dealers are going to be upside down in their inventory in my opinion
Thanks for disclosing that the car had problems. Found an honest salesman.
It's the difference between a loss that you can handle, and a loss that shuts the doors, and I think auctioning the car (honestly, unlike the one you bought it from) was the best call to keep the doors open.
I live in SW Michigan, I would love to drive down and buy my next truck from you!
I would call this a "lesson learned".
Losing a little bitt to learn alot... is priceless for the future...
hello dude It's interesting to visit new places and have new experiences.
Great video
Hi Mike
Enjoy your RUclips channel
Best of luck to you.
Got through the first one, up,up,and away…. From here!! Best wishes & best of luck ! With your inner-drive you will be an expert in no time….
Just the cost of learning the ropes of your new opportunity. Best of luck.
Good luck man with your buisness venture , I’ve been watching your videos for years now
Good job guys. LOVE LOVE LOVE your vids. You rock Mr and Mrs ChevyDude
I used to work at a dealership, yes they are driven to make a dollar no matter what. It is one reason I can not work at one. I won't compromise my integrity.
What's wrong with making money? Do you get to the checkout line at Walmart and negotiate on the price of the ketchup you're buying? No, so why would a car dealership do it?
@Lee Braddock I'm a capitalist but I have seen the dark side. Unscrupulous techs ordering unneeded work or even manufacturers selling a technology using plastic parts where practice has been the use of metal. The monopoly of the dealer network conspiracy of non competitive pricing of sales and service.
That snow is coming down in the background lol
I used to go to auctions with a dealer friend. It was a blast and a science. I suggest you go on a regular basis not necessarily to buy but to learn. I think it would help you tremendously.
I've been watching you for some time now. I would be truly surprised to learn if you had been anything other than completely honest and above-board about the flaws in this car. So you off-loaded it with a minor loss, but you also got RUclips views out of it, and perhaps more subscribers. I hope so.
You didn’t to real bad but, you now have a little experience and understand how the auction works. It was a good learning experience for ya. Next time Mike it will get be better.
Only had bad luck once buying a used car. Lately I’ve had more bad luck selling my cars and the cars appreciating by thousands a year or two later. Can’t always guess the market.
1:36 The General has come to take a look at some auctions.
Good learning experience. You’ll be fine. Keep the faith - chase quality and attract success.
I am enjoying this video in CA.
Wait for the first time when some subprime steals your car and you are still in the recourse period and you have to buy the loan back from the bank because they didn't even make their first payment. Recourse can be up to 3 payments. They will rip the GPS out of the car and you'll never find it.
Seems like dat Manheim gave u a carvana shaft ,well u got to use protection next time,watch em all
Hey Mike not sure exactly how much you where in that car but besides the 12,500 didn’t you also get that 2k from Manheim ?? I would assume that would get you much closer or maybe even up a little
Exactly what I was thinking?
Owning a business....Remember that saying your first loss is your best loss. Move on and learn from your mistake.
Here's my comment to help you make money! Thanks for all the content...I know it's a process for you but your subscribers are living it vicariously through you.
Congratulations on your mild loss. I know from previous videos you were worried about losing everything but you came out of it and survived. Looking forward to future videos of your adventures as an independent dealer.
Backlotcars Mike. They charge zero dollars selling fee. Only buyers pay fees, which are lower than average.
Thanks for the look at an auction.
ChevyDude that was lit you definitely should go to that Auction again and buy some cars for the dealership and take us with you.
I think you did outstanding with all the flood damage done to the car.
Dude, your funny 🤣 😆 😂...I think I like you....I see tons of laughter and entertaining content coming from your channel 😄 😀 👏 👌...Plus, you look like one of those Hollywood people...Can't find or think of his name, but, I'm sure you got that alot...😂😂😂😂
I drove cars through a Mannheim for a temp agency for a while and they send a lot of cars through that they know are bad. In was in one that they told me to make sure I did not turn the ignition switch off until it was sold because it probably would not start again.
That is one of the reasons they don't let the public buy there. It usually REALLY buyer beware. Used car dealers have a reconditioning allowance fund. It isn't their daily driver.
Fusion might’ve been torched
Mike I know it’s bad to assume things but since there was so much rust I would first surmise a flood car. If you could prove that does that mean you still couldn’t come back on Manheim for that no being disclosed. It seems like at least dealing with Manheim it’s really buyer beware. Being a retired business owner any loss it hard to take but you have to look at it as a lesson and remember it don’t let it happen again and go forward.
Turns out......buying a car really does suck!!!!
You learn new things everyday. That would have upside for your business. If not, loss would be accumulated. Keep up the great work.
I went to your videos and hit about 5 thumbs up on some videos... hope it gets you more traffic on RUclips... car buisness on a small lot can be rough...
Thanks for showing this! I really appreciate you giving some transparency in this whole process. :) when it comes time to buy a car, I’ll hit you up!
Congratulations. Keep up the good work.
My job goes through Mannheim. We got five manheim auctions they get cars from and then one that is like the auction on this video.
This is why the used vehicle purchase is always a crap shoot. Many times you are buying someone's problem.
I got one of the best deal cars ever. Honda Accord had vacuum lines pulled off. Stumbled, missed, running 3 out of 4 cylinders. Got it for 500 or 600, spent 10 minutes looking at vacuum lines got it running for several years.
You good for your first action
If it's no longer your problem; that's a WIN.
I liked that hummer. But truly I have never been to an auction so thank you for the education.
You’re welcome. Glad you enjoyed
Definitely look into ACV auctions if they’re in your area so much better than Manheim and everything is guaranteed full disclosures and atleast 40-60 photos per car
Stay positive my friend!
Yellow light doesn’t cover engine just transmission
Watching all the way from the Philippines🇵🇭🇵🇭🇵🇭
In the previous video, I think I heard you mention that Mannheim offered you $2K to basically go away. Did they come through on that offer? If so, you got very lucky on the Malibu...and as the saying goes...I'd rather be lucky than good.
Burned cars can be use for vin washing
Check out what flying wheels has been doing at auction. He's quite knowledgeable. You did good from a bad situation.
Great job Mike! Love the videos im in process of doing the same thing.
Experience is just as valuable as anything
- 11 Fake Car Fees you should not pay at a Car Dealership
0:51 - Car Dealers dislike informed Customers
1:24 - Two Rules to know about Dealer Finance
1:53 - The only legitimate fees you must pay at a car dealership
2:37 - The Finance Office is the Number 1 Profit Producer in the dealer.
3:25 - Don't Pay Dealer Prep Fees
4:26 - Don't Pay Dealer Advertising Fees
5:06 - Don't Pay Additional Dealer Mark-up
5:37 - Don't Pay Delivery or Destination Fees
6:12 - Don't Pay for Nitrogen Filled Tires at a Car Dealership
6:51 - Don't Buy Credit Life Insurance from a Car Dealership
7:12 - Don't Pay for a Vehicle Enhancement Fee in Dealer Finance
7:37 - The most commonly abused charges in Dealer Finance
7:49 - Don't pay for Window Etch Theft Protection at a Car Dealer
8:46 - Don't pay for Dealer Document Fees
10:10 - Don't pay for E-Filing Fees, Electronic Filing Fee, or Processing Fee
11:16 - Don't buy overpriced GAP insurance from a Car Dealer
Show less
46.5k for a probably used previous generation tundra. Wow.
Hey man! Enjoy your videos. Im a wholesaler/fill in store manager in the St. Louis area. Ive been to this auction several times in the past. Louisville is actually one of my favorite runs to make. I drive down wednesday morning, hit this sale. Then I stay the night, and hit the Thursday morning Manheim sale. Manheim puts me in the Sheraton hotel down on the river and we always have a blast at the local establishments. After manheim, I head to Murray Kentucky, for a Thursday night sale. I like that sale because there are no Simulcast bids, so only bidding against the people at the sale. Its a long 2 days, but last time I went in January, I brought back 21 cars in 2 days. Best of luck your new store.
Thanks. I appreciate it. Keep me in mind if you can find vehicles for me. Our current need is 10-17 small suvs we can retail around 20-25. Fee. Ice 12-13k cars too. Call or text with number on Google and we can discuss.
@@ChevyDude I’ll hit you up next time I’m out there. We’ll go buy some cars.
Help each other out maybe. 2sets of eyes always better. Can’t always get there in time for a pre-sale check over. And I’ve seen your videos about your frustration on condition reports. Trust me, I know that feeling.
great job, love how you keep it real.
carefully of the live steaming in the auction
Mike, that was not a rust bucket. You want to see a rust bucket? You should see my 99 Tahoe sitting in the driveway. It's got parts from 13 other vehicles on it, thanks to the local U-Pull It.
Enjoy
just remember slow it down and do your best not to get caught up in a bidding war . And if allowed inspect the vehicle use a code reader if the check engine light is on .
Getting that close was really good. Hopefully you don't have to deal with that again.
I worked for a dealership that purchased and sold cars at auctions on line and when I was sent to pickup a vehicle I would park my sell car before it was logged in and go inspect the purchase car or cars top to bottom and call him if there was issues. I'll just say more than a few cars got left behind because I found undisclosed issues.
Oh what a bummer!
Hey Mike I work at America's Auto Auction Harrisburg out of Mechanicsburg Pennsylvania and we sell a lot of Dealership cars, Bank Repos, Fleet Lease cars and Lease returns from several Banks/Companies. We have online buying set up, OVE and so much more. It looks like you are a little over 8 or so hours away and we do have a lot of Transport Companies that come in and pick up cars. Not sure if this would be an option you would want to do but I'm sure you'll enjoy checking us out. 👍
Need inventory at your store and a billboard sign with your picture “come see Chevy Dude where we sell all types of cars!”
Glad you sold it and ya didn’t lose too much money on it.
I believe Prices will Start coming way down soon
Vehicle auctions are for experts. Their business suits are not fancy clothes shown on magazines. Dress warm and be prepared to get dirty. Loud noise is part of the work environment. And decisions are rushed due to time constraints.
* It is a luxury to purchase a vehicle on a dealer's car lot and have a salesman help you and wait on you while answering questions.
The total burn from the buy/pay here may have been one they had to repo. They might have to auction it off, then sue the buyer for the difference between what was owed vs. collected.
Why didn’t the first auction take it back? They didn’t mention the rust.
$455 sellers fee is steep on a $12500 car. Then the buyers fee is usually higher on the car. Auction house makes $1000 + on that one transaction.
Auction fees in the 80s were $25
For the junk and $35 for the good stuff. Over the years they adjusted up but I never felt I was being ripped off. Then Manheim and Adesa came to town!!!
Bought out all the good old boys and jacked up the fees to where they are the only ones making any money. Last car I bought before retiring a couple of years ago cost me a $450 buy fee.
Some of the dealers I still talk with say they are paying $600 buy fees on certain cars.
Manheim rep. stopped at my lot one day and ask me how I liked the auction. Told him how I felt.
Dirty rotten greedy bastards!
For the water in the trunk. All you had to do was remove the drain plug water will at time get in there. I have had this happen no big deal.
You did great considering you got screwed on that ride. Lesson learned. Small loss for a car that belongs in the junkyard.
You lost money yes but it could of been way worse.. it's going to happen and everything will be ok. Wish I was closer here in Chicago but I'd definitely by my next car from you.
What's up Chevy dude how are you doing I'm so happy for you for opening your own carlot