Buying Cars at Auction Online (How it works)
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- Today i though I would film my daily auction buying online I talk about the current market and how i buy cars what to look for and what to stay away
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Contact me at Lucky@Automotivelife.com
I just opened my dealership and I’m setting up with Manheim, I appreciate the work you do. It helps guys like me more than you know
welcome to the car biz :)
@@LuckyLopez777 thanks man, all your fans appreciate you 🤍
where is your dealer?
Congratulations on your new dealership. What is your inventory plan. Balancing flooring or inventory investment VERSES book depreciations / Bank loan ammount s. Sorry fir such a scary uniformed question. ???$$$$!!! Did you watch some of Luck Lopez’s other videos ???
@@LuckyLopez777Lucky, I’m trying TJ find a lot to lease in Vegas. Any tips? I’m about the lease a warehouse
You are by far the most transparent and straight-shooting dealer I've come across on TH-cam. You sir have earned yourself a sub.
Thanks Michael. Welcome to the family 😁👍
MC: Love this guy & would trust him with my life! (only know him from his fine program).
I just subscribed too. He’s honest and I love what they did for the lady. People are so savage nowadays. That deed alone speaks volume.
You're generous for sharing. You're a good dude!
Thanks I appreciate it
I’m literally here because I want a jeep wrangler 😂😂
good cars. very high resale value
Nice Video clip! Apologies for the intrusion, I would appreciate your thoughts. Have you thought about - Tarbbatigan Vintage Sales Tip (search on google)? It is a smashing one off product for finding government and police auctions for cars trucks and SUVs without the hard work. Ive heard some decent things about it and my friend Sam got great success with it.
Not good on gas
Stay on your purpose forget about the stress and the money and lifestyle will come. Great vid keep it up
Thanks Sam appreciate the comment 😁👍.
Just wanted to say Hi and thank you so much dedicating your valuable time to put out this great content! My brother and I are just starting in this business, and this info here is very valuable to us. We are out of Michigan and just got our broker's license thru one of the dealers recommended by Copart. I like how you said in this video, there is enough pie for everyone".You are a good person, and God will reward you for helping others. God bless!
I appreciate that!
I really Like your Video explain and I learning from you now my dear Thank a lot
Thanks we appreciate the comment
Learned a lot. Thank you. Remember, Jesus is always with us and He loves you!😁
Thanks 🙏 😁👍
Auction prices are ridiculous these days especially here in Canada
I know. It seems like everyone is over paying and it’s getting worse
@@LuckyLopez777 well, it got worse
Which auction firms do you recommend is best?
There’s really not a best one I recommend always trying all of them to see which is better in your area because in different states in different areas different banks go with different options so you never know we’re gonna find the deals
Omg I am half way of the video he is still talking about Bob and stuff uhhh
interesting to watch it 2 years later all these cars what we thought were overpriced in 2020 I wished I could buy them now for that price
Question I'm looking to buy a car on Copart but it's in Cali I stay in last Vegas. How will the paperwork work? If I buy it will the paperwork and title will come in a Nevada title? Need help first time buying
I Read the Google Reviews about Manheim And The Agressive Team of Attorneys Here But After you Explain all of the Obligations Dealers can Have I Totally Understand I Was Well Informed and Educated By your Buying Experience In Auction vehicles Thank you for Sharing
Get to the point bro no one cares how big is your screen lol
Warning: This video will NOT show you how to purchase a car at an auto auction. LOLL. Don't get me wrong - I think this dude seems cool. But I just wasted 18+ minutes of my life. I was waiting for tips, tricks, how-to, etc. Nope. Just him talking about his business. I couldn't take it anymore. I want to learn how to get a deal as a private buyer. Back to searching.
Thanks for the comment. 😁. You must not have seen all my other videos Talk about buying cars Plus this one does show how we bid online how I make bids how the auction runs some of the things I look for check out some other videos I am posting a new one where I’m actually physically at an auction bidding on cars as well as the applications we used to make bids and everything else
@@LuckyLopez777 - lol. ok thx. I just went off the title - but it's misleading. "Buying Cars and Auction online - How it works" - not sure what I missed, but that's NOT what this video is. Other than at 18:30 where you say that you are going to bid 50% of the value (nice tip) - that was it. The other 95% was *not helpful.
That said - I appreciate the reply.
Hey I saw they have really cheap prices and I'm thinking of bidding for a bike. Is it safe to buy? Or is it sketchy
It depends on the condition report everything at the auction and I would just consider sketchy but if you get a cheap enough to for the repairs it’s definitely good deal
I recondition driver seat on most car dealership in my area. It's always driver seat bottom 1 or 2 panels. Console lid, carpet pad on carpet hole rub throw. Most car models repeat so once figure one out your set. Tear apart seat seems like impossible task for me it's breeze. Car has to look pretty says biggest animals in game
If the inside of a car is reconditioned. It’s always brings more money 😁👍
Single Mom discount?
I’m here because I want to start a small side business. This was very informative. Thanks! This video was toasty. 🔥😁
Glad you liked it!!
Ever have an issue with counterfeit cash ??? How do you protect yourself from getting scammed ...
We have a bill scanner and a light and a marker and you can usually feel the fake bills we see so many of them we can cut a spot up now plus nowadays not a lot of people have cash were swiping more cards than cash now lol
I take them to the bank and show the teller the cash first . Only had to do this once because a Persian guy paid cash for a $5,000 car all in $2 bills.
Its very good video thx u so much but i have some few questions about it can u answer pls
1- as a tourist in usa with license can i buy a car from copart or iaai?
2-do i have to pay taxes for a car if i bought it and sold it in one day or put in dealership do i still have to pay taxes and new license thx u so much
Hi Automotive Life I have a quick question. Just curious to know . Btw i'm from India. So, is it possible for me to buy used and salvage cars from auction as a student coz I m in collg ryt now
too much time spent on your personal life. i.e plans on things you're buying
TOAST!!!!!!
Yessssss 🙌
I have a question! Can I buy a car from an auction and sell it back on the same website at a better price?
Cars here on iaa people paying WAY TO MUCH! I thought i try buy sell cars. I used to do storage units got them for ok money but now people paying WAY TO MUCH! I mean paying 5 to 6 times more then the is unit worth. Can't make money it now WTF is wrong with people?
too many stupid people with lines of credit over bidding plus everyone thinks its cheap to fix and flip cars and its not
I would buy a car from you and I need one now….. you’re a good dealer…..
Thanks I appreciate it 🙌. I only do wholesaling at the moment
I just want to buy one cheap car to drive. I'm not greedy or want to make a living with it.
Great video. If the prices were stupid in 2020, then I can't even imagine how ridiculous they must be in 2021.
They are high but slowly going down
Hey great vid, but if you get an OLED TV be careful with burn-in especially if you’re gonna be using it to look at the static auction windows. 👍🏼
Thanks for the tip
Tostada...!
yesss
@@LuckyLopez777 Hey Lucky.....Ive been looking for a manual 98/99 Volvo S70 in blk/blk or wht/blk. I found plenty of gry/blk in a stick w/hi miles, & a pristine auto blk/blk T5 w/under 70k miles.....but no blk/blk or wht/blk in a stick. Think Ill have any luck moving forward?
Well when you spend 18000 dollars on a car and the radio doesn’t work and the dealership says it’s gonna be over 1000 dollars to fix that’s bullshit
Toast!! I follow impact auto auctions here in Canada. Its fun
Thanks Mathew 🙌 🍞
Hello I want to buy a car I’m in Lebanon can you help
Hello Lucky. How can I contact you?
check the descriptions of all my videos my info is in there. look at my newer videos 😁👍
Has business in city with nickname, "Sin City", wonders why they have some shady ass customers.
*Hilarious*
thx
thanks for watching
I hate to be a bother, but is there any auctions i can check out without having any dealership credentials. I just would like to find a dependable vehicle
Hello , do you offer by any chance a way for others to bid on cars through your dealer account? I need somebody like you who is able to bid on cars to give me the access so that i can buy cars and ship them outside the us !
I do have little business buy and sell car trying to open dealerships I m from Michigan. but issues is I don’t find handy Mechanic. how do you handle repair specially buy from auction .
I would only buy green light cars till you find a good mobile mechanic. just start hiring people till you find. one. it will talk alof of time and money but its worth it
Wear blue light BLOCK glasses 👓 it’s amazing,
Hi Lucky. How do I purchase a course from your website? I only see an option to book a consultation.
TOAST! I just started in the buying business for my dealership.
(Public buyer and not a dealership and never done this before) If you buy a vehicle(s) and flip it do you have to notify any entity about your earnings? (Like IRS chasing you down about how you got that money)
love the user name 😁👍
You talk about selling not on buying
The whole video was me talking about what to look for when you’re buying a car?
As long as you are doing right by people the money will come.
💯
Thanks for the Content
Wow! I love how honest you are about stuff and how much info you give! Thanks.
Best video I have ever seen about the dealership!!! Thank you bro!!
I appreciate that!
Take care with your eyes please
yes :)
Lmao I guess everyone gambling all their money in Vegas 400 credit score is absurd
Hi sir, can you tell me please what stationary means for an auction car? Is there some issues with the engine?
Learned a lot.
Update: Just finished watching 4 more videos, you have a new subscriber, I've never come across with straight-forward content like this, this is a rare knowledge to find!
Thanks i appreciate it
Someone is getting my leased 2013 KIA Optima that the finance company repossessed.
I'm getting a used vehicle to get my things from the vehicle, then file for bankruptcy.
Thank you, good info, I learned quite a bit
I just hate the fact that auctions are selling cars more expensive than dealers and people are still buying them like candy
auctions are building the hype up and MMR is way up so dealers think they are justified by paying over mmr lol. its a scary cycle
Man, you are great. I watch your videos randomly. Your content is phenomenal. My goal is to watch it all. In my head I'm studying it. Thank you so much . I'm a sales manager in a small independent dealership in MA. Preparing myself for the journey. Will buy the courses 100%. Thanks for everything! Oss
Thanks I appreciate it 😁🙌
toast
First time here, love your energy
Keep it up
Thanks 😁
Thanks for being honest. I hope you do good with your channel. Subscribed.
Appreciate it welcome to the family
What are some pages that i can look into in houston i serch up auction cars and their all crashed or salvage title
IAAI and Copart
Toast. Do you have any advice for using brokers to buy for you at online auctions?
Dont. you will buy cars with too many issues
@@LuckyLopez777 I do recover my money after sending it to a broker on an agreement to buy a car from the state that he lives in??
@@LuckyLopez777 thanks in advance.
After watching this video he’s really made me second guess if I should even try to tap into the car industry. I just heard all negativity
It’s a fun business it’s just lots of stupid people in it lol
@@LuckyLopez777 ok Lucky. I have a quick question. So I’m currently working a full time job putting in 60+ hours a week. I’m trying to get out of the 9-5 life and my dream goal is to get into real estate. So I’m currently in the stage of building my capital. I have some money saved up and was thinking about flipping cars as a side gig to make some extra money. My question to you is is this a lucrative field for me if I’m aiming at only flipping 3-5 cars a month. And that goes with I’m thinking if I should just get my dealers license to have access to these auctions myself rather than trying to find deals on fb marketplace etc. what would your opinion be? Would the dealer auctions provide some deals for me as a independent flipper. Not trying to have a dealership but just flip a couple cars a month ?
@@RoyallKing629 If you’re flipping cars just to get money for real estate I wouldn’t waste the time in investment to get your dealers license but if you want to keep it as a Side hustle then I would recommend
@@LuckyLopez777 recommend what?
Same here in so cal manheim and carmax are ridiculous people paying over 1000 in mmr for everything
Yeah it’s crazy and only getting worse
toast
Yesssss!!!!
Sound like you need to lower your margins and sale 75 - 85 cars.
It’s up and down some month. Some are volume months other are all about gross lol
Dodge Caravan and transmission failure... Not surprised. Glad you guys took care of her.
Deal with non recourse lenders only..don't have to deal with repos
Unfortunately almost every bank here in Vegas requires one month minimum recourse. Some are 2-3 lol. Vegas sucks for banks
Toast - very informative vid!
How can I get a dealers license?
Watch my video on how to get a dealers license. We also have a Master class showing you everything on dealerships too
GREAT INFO. Im in California and I'm having a hard time getting my car lot off the ground. Im a new dealer n no one like to give info. Any tips? Best car auctions you use?
Great video what would you recommend to get started I live in ct?
That’s the great thing about the automotive industry is wherever they drive cars is a good spot to start either selling fixing or repairing vehicles if you have a love for cars I would definitely do so
I’m a buyer retail &wholesale are u hiring?
I have heard you talk about your rental cars. Can you do a video on how that works? Like are their any special licenses or types of insurances you have to have?
Look on my channel I have a bunch of videos of me talking about rental cars
@@LuckyLopez777 cool. I will check it out.
Cinnamon toast
Toasty
Really good video plase keep them coming so interesting
Thanks Brett. We appreciate it. More videos on the way 😁
Hey man I’m looking to bid on a car but the website has no title for the car on it wether if it’s a clean title or salvage It just has make model and year. The car has been rear ended and the offer seems to good to be true.
Run the Vin in Auto Check or Carfax
I vouch for guns industry on telegram they sell guns,cars,phones, house at affordable price I have bought something more than 3 times from them message the on telegram
Great video thanks for your honesty and sharing ins and out of the business I'm starting a small used car dealership I'll be watching more of your videos
thanks for watching
🐐🐐🐐🐐
What is the name of the website or app you are using for that??
Manihime have to be a dealer to use it
Toasty
yes!
Hey Lucky, my question is if my bank fee for a sub prime customer is $500 how can I add that on for the customer to pay, the legal way?
Also what gps tracker would you recommend if I were to do in-house financing? A video on how to do in-house would be appreciated, Just subbed!
Ryan Yosh The way I price my cars is $1000 over retail this gives me the flexibility where if the customer has good credit I can lower the price or if the customer has bad credit I don’t have to raise the price to compensate for the bank fee and as far as GPS is I only use gold star 90% of the other ones are absolute junk gold star has amazing features sign up with them and try to GPS
@@LuckyLopez777 Thank you I appreciate it your response, do you have any previous videos on how to create successful in-house financing?
Ryan Yosh We are actually making a online class for that along with our dealers license rental car license.
Toast
tosty !!!
418 average credit! DAYUM! They really are toast lol
Extra crispy 🔥 🤣
You are s superstart!
I learnt a lot from you.
Bless!
Thanks I appreciate it
can you make a video about how to be a wholeseller? Step to Step
Will do :)
Im european and i wanna start importing motorcycles from US can you recomend me good US web site where i can bid on motorcycles? thanks in advance
418??? That's some burnt toast!
Your insights are so exceptional. I've learnt a lot from your exeperience, especially the challenges. I feel salvage vehicles are over-priced, considering common damage types, mileage, etc. Adding site fees, haulage, shipping, etc, blow costs over the roof. And compounding, sharp spike in exchange rates makes the whole venture appear like a wild goose chase. Oh yea! Am a foreigner (African). I've struggled to get a Lexus RX350 (Y2010 - Y2013) for the past 14 months without success. I keep saving upwards, but the soaring prices won't just cease nor slow down. Would be glad to get a direction, advice or help.
right now salvage is almost retail
@@LuckyLopez777 I hope to get lucky. Thanks for the headsup.
Greatly Appreciated.
Thanks :)
for your next video can you talk about Buying Cars at Auction Online (How it works) ?
I don't know what the word, " TOAST" means by your vernacular?? Besides that, GREAT VIDEO/TUTORIAL for first time buyers interested in buying a used car at an auction not as a dealer but as an individual! You seem like a straight shooter about the pros and cons of your business transactions the good, the bad and the ugly! Do you ever give free long-distance advice on a potential good buy, trade-in, etc? Much Respect from Louisville, KY
I also can blink my eyes, since were sharing.
Nice lol.
Hi, how do I sue a broker for false promises?? 😟
you cant unfortunately. brokers. do not have the same rules as Dealers
do you have any rear loading wheelchair vans used?
No Don’t see them often at auction.
Hey, I'm over here. :) Great vid man!
Hey, thanks!
Curious on your BHPH deals if you don't mind me asking, gone are the days of 10-12 years ago buying a car for $500 to $1,200 and getting the entire amount down and just financing the profit/repairs. How much do typically let out on the street on an average deal?
I actually still get cars repaired all in for $1500 but we usually try to get about 50% of what I’m into them down and the other 50% within the first six months that is my formula that use
@@LuckyLopez777 Thanks for the pointers, excellent tip of keeping a shorter term. Worked for a non franchised sub prime and BHPH store in the late 90's and they financed 12 months, the cars didn't last and their BHPH business cost them to go out of business. Back then we used Key Bank, Mercury Finance, and in house.
what wesite are you using..?
Manhime
Great video keep up the good work
Thanks Jack appreciate it
Thank you can you subscribe to my channel
Look at the camera not your monitor.