Re: the car will go to auction - Saab 9-5 Bulletin Board - Saabnet.com
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Re: the car will go to auction
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Posted by patrick lin (more from patrick lin) on Wed, 11 Jun 2003 18:19:37 Share Post by Email
In Reply to: the car will go to auction, Bret, Wed, 11 Jun 2003 16:16:18
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just one reference for you since i bot a car from auction, then i spoke w/ the previous owner and the dealer. this was a lease return situation.

2000 Saab 9-5 Gary Fisher Wagon w/ 54k and 17" BBS wheels
* $22k residual.
* Saab offered to sell car to dealer for $20k, or approx. $2k discount
* dealer passed on the car.
* Saab went to auction.
* car broker paid $17k for the car.
* Saab probably got less than $16k once all the costs were factored in.
* i paid $18k for the car...slight premium.

i heard it was a slow day at the auction and many buyers didn't show up, so perhaps the $17k was lower than normal. either way, i don't think saab would have rec'd more than $21k(their previous $20k quote plus transportation fees, etc...). perhaps this is one reason why GM stock is still a short since GM will continue to lose LOTS of money on this type of poor decisions.

p.s. i'm in the SF area and you'd like, you may want to contact my broker and he'll try to track down your car and you can pay him a reaonsable fee for his trouble. you can reach chris or greg kwei at http://www.gkautos.com. i've bot 3 cars from them including this saab and 2 other mercedes.

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