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-   -   Why would a 2 year old car be sent to auction? (https://www.terrainforum.net/showthread.php?t=24829)

buggsy 06-26-2018 05:35 PM

Why would a 2 year old car be sent to auction?
 
Hi all. I'm a bit off topic here as I'm actually shopping for a pickup. The truck I bought a year ago is a bit a lemon. A lot of hidden rust by the dealer, and it's costing me.
As I was shopping around, I found a truck that I liked, but it probably more than I can afford. As I was about to pass it by, I realized in the AutoCheck that it was a leased truck that was sent to auction. It's a 2016 Silverado with about 24K miles. I'm not sure if I should read into that auction as a red flag, or a reason that I could haggle more than expected. I'm a little leary of a leased vehicle anyways, but I wanted to ask this anyways as I continue shopping around. I understood why my 15 year old rust-bucket Dodge went to auction, the dealer was embarrassed to put that on the lot. It's a little odd for my area for someone to auction off something this new. I assume that they went with a competitor's truck and that competitor didn't want it on the lot... it's just unusual for my area. Is this more common than I think?

Colt Hero 06-26-2018 11:31 PM

Is it a strippo? Is it 2-wheel drive? Might just be something that is not popular where you are.

buggsy 06-27-2018 10:24 AM

It's 40 miles away, so I haven't seen it in person. On paper, it has a lot of desirable features like remote start and heated seats. The only thing that's a little less popular around here is that it's an Extended/Double cab, not a crew cab. I like the balance of a smaller back seat, but extra 10 inches in the box. There are probably 2-3 times more crew cabs than double cabs for sale.

It's just weird to me. I've seen a few off-lease vehicles (which is a concern on it's own), but the only ones I've seen that went through auctions were for a reason like a lemon buy-back. This only lists as being off-lease and auctioned. I don't do leases, but I always thought they were 3-5 years. I suppose you can negotiate for what ever terms you need though.

scbearsfan 06-27-2018 12:13 PM

You can get out of a lease, sometimes you'll have to pay a penalty or if the dealer wants your car they'll do the transaction as a trade in rather than a lease turn in.

dwendt44 06-27-2018 12:31 PM

I don't think dealers mind at all if they have a competitor brand
car or truck on their lots. Looks like someone traded it in on their product.

Can't think of a GOOD reason for a one year old vehicle to be up for auction.
Flood damage? Lemon?
I'd steer clear.

Just my 2

Colt Hero 06-27-2018 12:33 PM

Maybe combination of it not being crew cab or 4WD meant it would be sitting for a long time on the lot, so better just to auction and get rid of it? Are there any sinister issues with the Silverado (like the early Equinoxes) that might make it a candidate to be sold at auction (where buyers would be less likely to catch the problem)?

Will you be able to give it a good checkout, or is this really an auction situation where you only get a quick look, make your payment, and drive it home? Good thing with the auction purchase is you normally get a good enough price that it protects you against big repair bills that usually reveal themselves fairly quickly.

garagerog 06-27-2018 01:21 PM

Buggsy, I have a low mileage 2005 K1500 so I am a frequent visitor to a couple of Silverado forums and there seem to be a couple of common complaints about the era of Silverado you're interested in. One is the quirkiness of the 8-speed transmission, harsh downshifts especially, sometimes reprogramming helps, but a lot of owners get the line operates as designed. The other common complaint is the Chevy shake, usually above 70 mph and there doesn't seem to be a common resolution to this. Some owners have reported resolution with a force wheel balance, but others have had to have the driveline replaced, the torque converter replaced if a pan drop and filter change doesn't rid the transmission of some new assembly gunk, and most troubling of all some owners have gone through all of the above with no resolution and result to their state's lemon law. So, if you're still interested in this Silverado, make sure your test drive includes a freeway stretch where you can get up to 80 mph or so.

garagerog 06-27-2018 01:45 PM

Buggsy, I should have added that since this Silverado is at auction and since you probably won't be able to test drive it, I'd stay clear.

fourmoremarine 06-27-2018 06:31 PM

Quote:

Originally Posted by scbearsfan (Post 264645)
You can get out of a lease, sometimes you'll have to pay a penalty or if the dealer wants your car they'll do the transaction as a trade in rather than a lease turn in.

Not cheap getting out of a lease. Most lease vehicles go to auction because lease company wants too much for the dealer to buy them. Lease vehicles belong to the leasing company. A lot of off lease vehicles end up overseas.

fourmoremarine 06-27-2018 06:37 PM

Quote:

Originally Posted by buggsy (Post 264641)
It's 40 miles away, so I haven't seen it in person. On paper, it has a lot of desirable features like remote start and heated seats. The only thing that's a little less popular around here is that it's an Extended/Double cab, not a crew cab. I like the balance of a smaller back seat, but extra 10 inches in the box. There are probably 2-3 times more crew cabs than double cabs for sale.

It's just weird to me. I've seen a few off-lease vehicles (which is a concern on it's own), but the only ones I've seen that went through auctions were for a reason like a lemon buy-back. This only lists as being off-lease and auctioned. I don't do leases, but I always thought they were 3-5 years. I suppose you can negotiate for what ever terms you need though.

off lease vehicles go thru a very thorough inspection before they are turned back in Tires have to have 4/32 tread left very few marks allowed on vehicle


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