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I bought a 2 year old diesel auto estate car at an auction which at first turned out to be a real bargain, £5000 cheaper than the book price. In my rush though to buy the car, I failed to notice that the car had on its ticket that it was sold as seen and that it was an insurance total loss. I know I am an idiot, believe me I dont need reminding, I parted with £3400 for it.

The problems so far is that the auto gear box needs replacing at a cost (for a reconditioned one!) of £2300 including tax and the mechanic that looked at it told me it wasnt worth fixing the gear box.

I tried to put it back in the auction but no one bidded for it. I am thinking of putting it into a different auction but I would feel sorry for the next sucker that buys it, and an insurance job wouldnt pay out the money I’ve paid for it I was told reliably. I am so gutted, but there must be a way I can recover at least a bit of my money back somehow. I can’t take it back to the auction, I bought it sold as seen.
My mechanic told me that repairing/replacing the gear box would be a total waste of time and money. It goes forward ok, but doesn’t go backward at all. It’s due its first MOT in May, and it would never pass it.

6 Comments »

1. 

   If you fixed the transmission could you break even?

   If I’m understanding your problem correctly, you said that you paid 5000 less than the book value, put in the transmission, and sell it for what you have in it, which even with the new tranny appears to still be less than book value, at least you’ll recover your money.

   Without the transmission it might be impossible to sell. At this point you’re out the total amount. So even if you fix it and then sell it, at least you can recover your investment.

   Comment by G T — February 15, 2011 @ 2:26 am

2. 

   Not much you are able to do try to sell parts from the car and cut your losses for that is exactly what they are losses, it does pay to read all the printed details,and that is what the auction company will say to you. "you pays your money and you takes your choice"

   Comment by harpo — February 15, 2011 @ 2:26 am

3. 

   suck it up and take the loss like a man. auctions are well known to be as is, unless otherwise stated. before buying a used car you should always take it to a trusted mechanic for a going over, otherwise ya deserve what ya get. ya screwed yourself seeing just the dollar sign, or in your case, pound.

   Comment by Grizz — February 15, 2011 @ 2:26 am

4. 

   nothing it is a auction

   Comment by William R — February 15, 2011 @ 2:26 am

5. 

   try to sell parts off of it or find a sucker to buy it as is……..your gonna lose money either way

   Comment by DM — February 15, 2011 @ 2:26 am

6. 

   The best you can hope for is to resell the vehicle in an "as seen" condition and to sell it quickly and cheaply. You can never hope to recover all of your money. (except to someone else as carless as you recognize you were) Take what you can get for it and consider this episode an expensive lesson, well learned.

   Something to consider: If you did put in the 2300 pounds for the gearbox, would you get, at least, that much back for reselling the car? How would your expected price be, compared to what you may get by selling the car as it stands, now?

   Comment by Vince M — February 15, 2011 @ 2:26 am

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