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How much below asking price (%) do car dealers pay when they buy an off-lease vehicle at auction?
I am specifically thinking about late model ('05) Chrysler products.
They can't be selling it within 5% of their retail sale price can they?
When purchased at auction, for clarification, how much markup is typically applied to the price paid at auction once it hits the lot.
1 Answer
- vwhoboLv 41 decade agoFavorite Answer
Did you read your own question before submitting it? If a car (or anything) is bought at auction, the buyer pays the highest bidded price not a set price, so... There is no way of determining before hand what a buyer will pay.
That being said, any dealer that is paying 95% of the selling price for a car will go broke in a matter of minutes. We normally get about double what we pay for a car at auction.
