My Yeti 170 lease car was taken away to Auction!

[munrorunner]

Dear all

I have ordered my brand new Yeti - to arrive hopefully this month!

My previous Yeti I had for 2 years. It was in tip top shape Elegance 170 in grey and we only did 16000 miles from new. It was leased from Masterlease (now Leasedrive) and we were going to purchase it at the end of the lease but unfortunately the lease company's "deal" was not much of a deal at all so we went for a new Yeti from a dealer.

Leasedrive collected it last month and what do you know! I found it on the Auction site for Aston Barclay! So crazy because they will never get as much as if they had offered me a good price in the first place!

Anyway, in case anyone is looking for a 170 Elegance Yeti I wanted to share this with you because it's potentially an excellent car at an auction price. I can tell you it's due its first service and one of the front wiper blades needs to be replaced and the glove box door is a bit sticky but is still under manufacture warrantee. Here's the link to the actual vehicle. I didn't want to put this in the For Sale section because I'm not selling anything - just sharing this info in the hope that it's helpful to someone.

http://www.astonbarclay.net/search/detail/?make=52&model=604&page=1&perpage=25&sortby=lot_asc&vehicle=34313

The Auction is tomorrow so I apologise for short notice.

MF

[j0hn]

So crazy because they will never get as much as if they had offered me a good price in the first place!

You might be surprised.

I don't know if you can view AB auctions live but let us know how the hammer price compares with what you would have paid.

[gallego1968]

Hi and welcome aboard.

[munrorunner]

Thanks for the welcome.

It would be very interesting indeed to know how much it goes for in Auction, I'm just not sure how to find out. I suspect the auction prices are kept well guarded to protect the buyers, many of whom will be dealers and sharks looking for the right stock for their forecourts.

The lease company were offering £19k for but out, which is not terrible but certainly not a great deal considering what we'd been paying per month. I was able to find similar prices from dealers and a dealer vehicle would come fully services, valeted and guaranteed which the lease co were not offering.

[munrorunner]

Most interesting. I could not find out how much it went for auction but... Within days of the auction completing I found it advertised on Autotrader from a dealer called "Mark Lambe Cars". He was asking £18000. This is relatively a good price for a 2011 with on 16000km and within a day it was sold!

Another 170 on Autotrader were advertised for £18999, had done 45000km and was older!

If it was sold for £18000 I think we can assume the dealer bought it from auction for no more than £17k (probably £16.5k), to make a small profit after fees, valeting, service etc.

The leasing company offered it to us for £19k with no warranty, valet, service etc. I would like to understand why the leasing company chose to auction when from a face value financial perspective, everyone would have been a winner if they offered it to us for £18k directly in the first place!

I can only imagine it's a policy to protect their leasing contracts.

Regards

Edited 13 June, 2013 by munrorunner