dealer auction car?
 

Hi,

Dealer called me today to tell me they'll have a 2011 preowned GT. Apparently it's a car from a "dealer's auction". Where do these cars come from generally? Are these auction open to the public? Just curious.

Thanks

I am thinking one source would be from rental fleets which I would go no where near, just me though and I could be wrong lol

There are a few company cars driven by Ford employees but 99% of them are rental returns. They are usually in service for 6mths - 1yr. I have owned a few of these "buybacks" including a Mustang and have sold tons of them. I've never had a problem with any of them. Just ask for a carproof inspection as this will show any accidents that have occured and have a good look at the car. If it looks straight go for it if the price is right. Before you buy used check a price on a new one also as the incentives are pretty good on the 2011's.

Hi,

Thanks for this info! Appreciate your feedbacks.

Yes, will definitely check on new ones as well.

One thing i also wanted to ask, what percentage is the factory-dealer holdback fee for Ford in Canada normally for a new car? Is it normally between 2 to 3%? I imagine that this doesn't apply for a pre-owned car?

Thinking of offering 5% above invoice price for a 2011 or 2012 GT. Wondering if this is realistic. I have the 2011 canadian dealer invoice list to work with.

Thanks again for your feedback.

I don't know about your dealer but I would take your offer on a 2011. The last one we sold was $500 over invoice and it was a California Special with an MSRP of $47,000. Got to move out the 2011's as the 12's are hitting the lot already.