Finance for auction purchase

Finance for auction purchase

Author
Discussion

hixster

Original Poster:

354 posts

224 months

Saturday 23rd December 2023
quotequote all
Looking for a bit of advice and if anyone has done similar.

I'm looking to buy a Macan at auction, I recently got a BCA account through one of my companies.
I have cash in the company and can buy the car for cash.
But then I want to refinance it - cash/part finance, probably PCP for the rest.
My normal finance company will only do the PCP loan if the car is purchased from a dealer.

Does anyone have a suggestion on how to structure this / get PCP to finance this car purchased this way?
Thanks in advance.

Edited by hixster on Saturday 23 December 18:55


Edited by hixster on Saturday 23 December 18:55

Auto810graphy

1,523 posts

99 months

Saturday 23rd December 2023
quotequote all
In reality you won’t really save much buying at auction one you have added fees plus the risk involved (I have a client who sold his stunning Macan GTS to WBAC as it needed an engine out repair for an oil leak) but if you decide to go that way somebody like Zuto or Oracle finance may be able to help.

hixster

Original Poster:

354 posts

224 months

Thursday 28th December 2023
quotequote all
Thanks, Auto810 appreciate the help and suggestions, I will look at those finance options. I take on your cautionary notes about risk too.
I've bought one or two cars at auction, and have some family members in the trade, so have some options.
I'm only looking to buy relatively low-mileage cars, one owner coming off a lease. With the current market, the 3-year-old Macan S's I'm looking at
with average mileage are selling at around £33-34k inc fees, so £7-9K (20-25%) below retail.