Carlisle auction question
Thread Starter
Team Owner
Joined: Jul 2008
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From: In limbo
St. Jude Donor '13-'15, '17 thru '22
Carlisle auction question
I was reading about the auction at Carlisle on Friday and Saturday, and they say that if you buy a car, you have to pay by the end of the day. How do people usually pay for cars? Do people bring that much cash with them? Seems like you couldn't use a certified check, because you don't know the amount you will end up paying. Is there some other way that people pay?
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From: Cape Cod, Mass.
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In order to bid you need a letter from your bank indicating you are good for whatever amount you plan to bid to. I just went through the paperwork. Cash works too. If you buy a car in the auction you will also pay a 5% bidder's fee. Some nice cars should be in the for sale corral as well.
Instructor
Joined: Oct 2006
Posts: 161
Likes: 1
From: Maple Shade NJ
I bought my 71 at Carlisle, Of'course we did not bring $16K with us. We went to the finance area and they had the money wired to them and gave us our cash. Simple as that.
Elkhartgreen72 (Dave)
Elkhartgreen72 (Dave)
Thread Starter
Team Owner
Joined: Jul 2008
Posts: 23,419
Likes: 22
From: In limbo
St. Jude Donor '13-'15, '17 thru '22
Thanks for the responses! I am clearly a major newbie here and am really struggling. The Corvettes at Carlisle website says that I have to have an "irrevocable bank letter of guaranty in favor of Carlisle Productions", my bank swears they have no idea what this is, and the branch manager there is a woman that generally seems to know what she is talking about, so I am completely lost there.
Additionally, given the fact that Carlisle Productions takes 5% from the buyer and 5% from the seller, I would be more interested in a private transaction in the for sale corral as Capevettes mentions. But, I don't think I understand what Elkhartgreen72 posted. How does this work? I spoke to my bank about getting a wire while I am there, and they say that they do not accept wire instructions via phone, so it sounds like I am outta luck there too.
I admit I am more than a little frustrated after spending about 2 hours on this today. Thousands of people must figure this out every year, I was hoping I was as smart as at least a few of them! Am I missing something obvious here? I just want to be prepared to complete a transaction should I see something there I am interested in.
Additionally, given the fact that Carlisle Productions takes 5% from the buyer and 5% from the seller, I would be more interested in a private transaction in the for sale corral as Capevettes mentions. But, I don't think I understand what Elkhartgreen72 posted. How does this work? I spoke to my bank about getting a wire while I am there, and they say that they do not accept wire instructions via phone, so it sounds like I am outta luck there too.
I admit I am more than a little frustrated after spending about 2 hours on this today. Thousands of people must figure this out every year, I was hoping I was as smart as at least a few of them! Am I missing something obvious here? I just want to be prepared to complete a transaction should I see something there I am interested in.
Le Mans Master
Joined: Feb 2000
Posts: 7,032
Likes: 2
From: Newburgh NY
When I went to the Atlantic City auction my bank manager wrote a letter on their letterhead stating that up to X amount of dollars were put on hold and payable to the Atlantic City auction subject to the purchase of any vehicle I desired. Was pretty easy and was accepted wthout problem.
Melting Slicks
Joined: Mar 2008
Posts: 2,336
Likes: 1
From: North Bellmore Ny
St. Jude Donor '09
look at the financing section you can get pre-approved before you ever place a bid http://www.carlisleauctions.com/auc8/index.asp
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