RepoDepo Bidding Question

[etherfast]

Hi,

I was browsing for a car at the repodepo on the Queensway in Etobicoke beside Ikea and I spotted this 2002 Toyota Corolla with only 125*** KM on the Odometer. Their suggested price is $8,999 which I think is wayyyy too much, i could get like a 2004 or 2005 with that price.

Since their suggested price it $8,999 is it possible to bid under that price? because I was thinking that it's no less than about $5,000 and no more than $6,000

just to let everyone know that I never done this before, I was just told by a friend to go check out the place

[Siwy]

Yes, you can bid under the price. I’ve underbid Mazda Protégé by about $2000 and won the bid a couple of years ago; it was in about the same price range as the Carolla. Just be fast because I never had the chance to actually by the Protégé. By the time I went to their warehouse the next day, thinking the car is mine, the car was already sold for $50 over my winning price.

The employees there are a bunch of scum bags. A friend of my friend works at the Toronto location. The way it works is when you submit a bid and it is lower than the bank’s minimum sale price, the bank can still accept your bid if they want to get rid of the car. If the price is really good, the employees can notify their friends/family or someone they know that is looking for a car and let them overbid you by a small amount and the car is theirs. I actually know of someone who got the car that way. I would not be surprised if the employees are making some extra money on the side doing it, although that is just my speculation.

[iam_immigrant]

Yes, you can bid under the price. I’ve underbid Mazda Protégé by about $2000 and won the bid a couple of years ago; it was in about the same price range as the Carolla. Just be fast because I never had a chance to actually by the Protégé. By the time I went to their warehouse the next day, thinking the car is mine, the car was already sold for $50 over my winning price.

The employees there are a bunch of scum bags. A friend of my friend works at the Toronto location. The way it works is when you submit a bid and it is lower than the bank’s minimum sale price, the bank can still accept your bid if they want to get rid of the car. If the price is really good, the employees can notify their friends/family or someone they know that is looking for a car and let them overbid you by a small amount and the car is theirs. I actually know of someone who got the car that way. I would not be surprised if the employees are making some extra money on the side doing it, although that is just my speculation.


I can also confirm this as a close friend used to work there. He also mentioned sometimes some would contact dealers if there's a super deal and they would get a cut. And from the stories he had told me I would never buy a car there.

-racing in the lot
-driving the cars like it's stolen
-going over speed bumps/pot holes with reckless abandon

and the list goes on and on.