So I was toying with the idea of picking up a salvaged 8 cheap that I could play with. In searching around I found this site. Has anybody ever looked into this before or know how it works?

http://carsunder1000dollars.us/used-sale/2006-mazda-rx8

 

Also intrested if anyone knows anything about this.

 

if you get lucky--this agency bids for you to the insurance company. Insurance companies are not idiots.--Well most of them arent!

 

I know of a good insurance auction site, but it will do you no good unless you have the proper licenses to buy from it.

Anyway.. lots of different cars on there but just don't expect to get something for dirt cheap unless it is actually worth that. People that bid on those know what they are doing and if you find one that nobody wants, there is probably a good reason for that.

 

None of the links actually work. We have a dealer license at my shop but all the local auctions happen during our business hours so i can never go. And any time I have even called to inquire about whats on the lot they always say "inventory changes weekly you have to come to the auction"

 

Won't never buy at auctions. You don't know what's up with those cars your bidding.

 

I will only buy a car that I can actually "see".

always wanted to try to go to one of these Auctions, but no one ever show me where I can go, I don't even know how to get some real auction list.

Insurance are not stupid I know, but on the other hand insurance is a business and business wants money, most of these cars are trash to them so they will always try to get whatever the F they can out of it. and honestly RX-8 ? sad to say no one will buy them. it might be a great place (auction) to find a salvageable RX-8 that's good for a parts car.

 

True but there is the potential to same many thousands of dollars. Its a gamble. you have to expect that you may end up with crap. Ive heard good stories and bad stories.

Several years ago I picked up a jeep wrangler with a engine knock for $500. Dropped the pan, replaced one piston/wrist pin for...I think it was about $100 and sold it a week later for $3000. On the flip side a co-worker went to auction and over payed for a SUPER clean mustang with a "bad starter" turned out the car had a hydro-locked engine.

 

It's a gamble, but if you have the right resources, you can make good money off auto auctions.

I have a buddy with his own shop, and he's flipped cars that he bought and brought back to life for hundreds and got at least a few thousand dollars off each car. Then again, he has the facility and know-how to fix these cars, and the space to store them while they're getting fixed.