The Car Auction Question of the Week Comes From Sam

hi my name is sam and im very curious about your auction ive been lookin for one for quite awhile but have question, if i come to your auction and dont find a vehicle that day do i still have to pay a fee?? and can i test drive vehicle before i buy?? if you could email me back as asap so i kno and i could ocme down wed. thank you for your time,

Thanks for your interest Sam,

I am glad to inform you we do not charge you to attend our auction. You will not have to pay a fee if you do not win a car or bid on a car or even test drive our cars! Test Drives are 9am-5pm on Wednesdays.

Regards,

Interstate Auto Auction

Question of the Week Comes From Ben

Question of the Week.

Can you tell me why on a closed auction cars are “Passed” ? Does that mean the reserve was not met?

Thanks for the help.

Ben

Thanks for your Question Ben! Remember we always have no reserve cars for Auction every wednesday!

Passed Vehicles means the reserve on the car was not met. And All Auctions that have good running cars have a reserve.

These Green light Cars are all good running cars that we guarantee the motor and transmission is in good working order or you get your money back. This of course adds value and forces companies to bring us good running cars. That is good news for you!

Because these cars are actually bought for real money there is a actual price attached to the cars. This is called a reserve. Like all auctions in the world auctions do not actually own what they are auctioning off, banks own them tyipically.  As a result we do not know the exact price of this reserve, but being in business for over 8 years we know that a wholesale price reserve averages out to about 50% of the kelly blue book value.

So as long as you are within that range, 50% of the kelly blue book retail value, you are going to win the car for the lowest prices in the USA.

For example, if you are looking at a 2002 Jeep Cherokee and the bluebook retail is $6525 you should be prepared to bid around $2500-$4000.

NEW NO RESERVE CARS ARE COMING! EVERY WEEK NOW! GREEN LIGHT

NEW CARS SELLING WITH NO RESERVE! STARTING 7/28 click here http://ping.fm/v3iTz

Be sure to keep an extra eye out for our new Absolute Cars that sell with No Reserve! Starting July 28th!http://ping.fm/rOclf

Question of the week about Auction Reserves?

Question of the Week comes from Kerry who asks Interstate Auto Auction...I was wondering if you would consider posting the reserves on cars that do not sell.
thank you
kerry

Answer: Wholesale is usually 50% of the kelly blue book retial price in your auctions zip code. We post online the KBB Retail Price for you every week at the bottom on all our cars. If the KBB price is $7,000 then you should expect it to sell for around $3,000-$4,000! Thats Wholesale Folks!

Given the fact that we are a Auction House and not a Dealership we do not actually own the cars for auction. The Charities, Donations, people in the public, dealerships, repossesion companies, banks ect..own the cars and need to sell them for cheap prices. A person who represents these companies will come in personally and stand along side with the auctioneer. Once the bidding stops the Auctioneer will turn to the owner and ask if it is ok to accept the bid. If the Company agrees it will be sold! The Auction simply provides a medium to Auction off Cars not buy and sell cars like a dealership would.

We are the middle person. We do not know what the reserves are. However, doing this for almost 10 years gives us a little insight into what the reserve can be. We know if you bid around 50% of the blue book price you should win the car.

Thanks for your interest Kerry,

New Vehicles in Nice Black Jaguar Xtype! Lexus RX300 SUV! Many more autos on Route to Auction http://ping.fm/ILIRa