I send out a weekly list of what is going through auction. Please PM me your email address and I can include you on the list. Please let me know if you have additional questions and I can add to this FAQ.
Why does a Tesla end up at auction?
Tesla’s end up at auction for a variety of reasons. The most common, is Tesla receives a car as trade in that they don’t want to retail (over 65k miles, previous damage, damage, etc.). They could be repossessed, lease has run up and brought by the bank. Could be someone traded into an ICE dealer and they bring them to auction.
Why would I want to buy a car at auction?
Simplest answer is speed (you can pick it up that day) and discount on pricing. Going this route isn’t for everybody, you can’t be as picky, car may have some damage, won’t have a sales person telling you about all the features, etc. While you can look at the car, you won’t be able to take it off the lot to have it checked out.
While there is some discount ($1k – $10k), don’t expect to find a brand new loaded P100D for $25k.
Do they have damages?
Sometimes, each car has a Condition Report (CR) that rates the car on a scale from 1 to 5 (1 being lots of damage and 5 is in perfect condition). Any damage is itemized and explained on the CR, usually including pictures of the damage(s). Once you find a vehicle you are interested in, please send me the VIN and I can send you the CR.
Do you need to be a licensed dealer to buy at auctions?
The listings that I have all require all buyers to be licensed. We have the ability to purchase all over the country by I would recommend finding a local dealer/wholesaler that can get you into the auction to view the car and handle the paperwork. You can find a dealer by posting on Craigslist, visiting a small dealer lot and talking to the owner, posting on forums, etc. A pretty typical fee for a dealer to arrange this is around $1,000. Some may charge more given the dollar value of what a Tesla could sell for. If you do find a local dealer, please send me their details so I can refer in the future. We would be willing to work with some buyers that are out of state on a case by case basis. Please reach out to me and we can discuss the logistics.
Can I tell which options or model each car has?
Some are listed as 60/85 etc . But the only classification that is made within the database is a performance and non-performance model. Sometimes you can see from the pictures which options it has but your best bet is to go see it person. You can sometimes google the VIN number and if was at a retail lot previously, they might have it listed on the web.
Does it come with a warranty?
Disclaimer - please confirm with Tesla before assuming it comes with a warranty.
Infinite Mile Warranty
As long as the title is clean, anything less with 50k miles will come with the factory warranty. As far as I know, you cannot purchase an aftermarket warranty.
All of our cars are sold as-is and we do not warranty any car.
Again, please confirm with Tesla if there is any question about the warranty.
How does financing work?
The best and easiest way is to pay cash. You can do financing if you choose a lender first that will give you the cash before having the title. Sometimes the title is not delivered to the auction before the sale and they have 30 days to produce the title. If they do not produce the title, they will buy the car back for what you paid, plus any repairs you made to it. Please do not plan on buying a car at auction if you do not have the finances.
What are the fees?
Above the price you would bid on the car, you would also have to pay the following fees:
Auction Fee: this varies from each auction but typically it’s 4.5% of the sell price and usually capped at $450.
Dealer Fee: We charge $1,000 to handle the transaction. We can reduce that fee for cars priced less than $30k.
Internet Purchase Fee: $50 – if we’re not bidding on it in person, the auction charges an additional fee to bid online.
Tax, Title & License: This varies from state to state. Please review your states fees and regulations.
If you live in Texas and buy from me (or another dealer) – you would pay the Tax, Title and License to the dealership and we would handle all the paperwork, registration and send you the plates. If you live out of state, you would take the title to your DMV and self-register.
This is not my full time job. It’s a hobby for me and I’m a Tesla fan (own 1 right now, working on one for the wife). I just started this because I was getting a lot of request about auction cars so I put this together and will help anybody trying to get into a Tesla.
How does the bidding process work?
Each car is scheduled to go through the auction at a certain day and time. It is a live auction and there are dealers bidding in person and over the internet. There are typically reserves and if the reserve isn’t met, they will not sell the car. Sometimes, if the reserve isn’t met but it’s close to the reserve, they will call it an “if” or a “call” sell. In that case, they will go back to the seller to see if they are willing to sell it at the highest bid price. They usually get back to the buyer that same day to confirm the sell.
What is the MMR?
The MMR stands for Manheim Market Report. This estimates what the sell price of the vehicle will be. Please take this as a grain of salt with Tesla’s as it doesn’t factor in the options, battery size, etc. Also, it’s not as accurate because of the volume of sales of Tesla’s at auction. On average, about 15 Tesla’s are sold a week at auction. The MMR on something like a Honda Accord is very accurate as hundreds of these are sold every week. As mentioned above, the only distinction it makes is if it’s a performance or non-performance model.
If the MMR is blank, that means there isn’t enough data available to predict the sale price.
Please only request additional information, Pictures, Condition Report if you are serious about a car. As mentioned, I do this part time. Please feel free to reach out to me if you have further questions and I can update this FAQ.
Why does a Tesla end up at auction?
Tesla’s end up at auction for a variety of reasons. The most common, is Tesla receives a car as trade in that they don’t want to retail (over 65k miles, previous damage, damage, etc.). They could be repossessed, lease has run up and brought by the bank. Could be someone traded into an ICE dealer and they bring them to auction.
Why would I want to buy a car at auction?
Simplest answer is speed (you can pick it up that day) and discount on pricing. Going this route isn’t for everybody, you can’t be as picky, car may have some damage, won’t have a sales person telling you about all the features, etc. While you can look at the car, you won’t be able to take it off the lot to have it checked out.
While there is some discount ($1k – $10k), don’t expect to find a brand new loaded P100D for $25k.
Do they have damages?
Sometimes, each car has a Condition Report (CR) that rates the car on a scale from 1 to 5 (1 being lots of damage and 5 is in perfect condition). Any damage is itemized and explained on the CR, usually including pictures of the damage(s). Once you find a vehicle you are interested in, please send me the VIN and I can send you the CR.
Do you need to be a licensed dealer to buy at auctions?
The listings that I have all require all buyers to be licensed. We have the ability to purchase all over the country by I would recommend finding a local dealer/wholesaler that can get you into the auction to view the car and handle the paperwork. You can find a dealer by posting on Craigslist, visiting a small dealer lot and talking to the owner, posting on forums, etc. A pretty typical fee for a dealer to arrange this is around $1,000. Some may charge more given the dollar value of what a Tesla could sell for. If you do find a local dealer, please send me their details so I can refer in the future. We would be willing to work with some buyers that are out of state on a case by case basis. Please reach out to me and we can discuss the logistics.
Can I tell which options or model each car has?
Some are listed as 60/85 etc . But the only classification that is made within the database is a performance and non-performance model. Sometimes you can see from the pictures which options it has but your best bet is to go see it person. You can sometimes google the VIN number and if was at a retail lot previously, they might have it listed on the web.
Does it come with a warranty?
Disclaimer - please confirm with Tesla before assuming it comes with a warranty.
Infinite Mile Warranty
As long as the title is clean, anything less with 50k miles will come with the factory warranty. As far as I know, you cannot purchase an aftermarket warranty.
All of our cars are sold as-is and we do not warranty any car.
Again, please confirm with Tesla if there is any question about the warranty.
How does financing work?
The best and easiest way is to pay cash. You can do financing if you choose a lender first that will give you the cash before having the title. Sometimes the title is not delivered to the auction before the sale and they have 30 days to produce the title. If they do not produce the title, they will buy the car back for what you paid, plus any repairs you made to it. Please do not plan on buying a car at auction if you do not have the finances.
What are the fees?
Above the price you would bid on the car, you would also have to pay the following fees:
Auction Fee: this varies from each auction but typically it’s 4.5% of the sell price and usually capped at $450.
Dealer Fee: We charge $1,000 to handle the transaction. We can reduce that fee for cars priced less than $30k.
Internet Purchase Fee: $50 – if we’re not bidding on it in person, the auction charges an additional fee to bid online.
Tax, Title & License: This varies from state to state. Please review your states fees and regulations.
If you live in Texas and buy from me (or another dealer) – you would pay the Tax, Title and License to the dealership and we would handle all the paperwork, registration and send you the plates. If you live out of state, you would take the title to your DMV and self-register.
This is not my full time job. It’s a hobby for me and I’m a Tesla fan (own 1 right now, working on one for the wife). I just started this because I was getting a lot of request about auction cars so I put this together and will help anybody trying to get into a Tesla.
How does the bidding process work?
Each car is scheduled to go through the auction at a certain day and time. It is a live auction and there are dealers bidding in person and over the internet. There are typically reserves and if the reserve isn’t met, they will not sell the car. Sometimes, if the reserve isn’t met but it’s close to the reserve, they will call it an “if” or a “call” sell. In that case, they will go back to the seller to see if they are willing to sell it at the highest bid price. They usually get back to the buyer that same day to confirm the sell.
What is the MMR?
The MMR stands for Manheim Market Report. This estimates what the sell price of the vehicle will be. Please take this as a grain of salt with Tesla’s as it doesn’t factor in the options, battery size, etc. Also, it’s not as accurate because of the volume of sales of Tesla’s at auction. On average, about 15 Tesla’s are sold a week at auction. The MMR on something like a Honda Accord is very accurate as hundreds of these are sold every week. As mentioned above, the only distinction it makes is if it’s a performance or non-performance model.
If the MMR is blank, that means there isn’t enough data available to predict the sale price.
Please only request additional information, Pictures, Condition Report if you are serious about a car. As mentioned, I do this part time. Please feel free to reach out to me if you have further questions and I can update this FAQ.
