r/auto

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r/auto • Posted by u/CodeNewbie2024 Beginner 3 hours ago

Confused about the final price on cherokeemotorauction.com

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u/NewbieBimmer User Posts: 5
Hey everyone. I'm a first-time user of cherokeemotorauction.com. I just won a bid on a 2018 BMW 4-series (so excited!), but my final invoice is higher than my winning bid. I see a 'buyer's premium' and some other fees. Is this normal for Cherokee Motor Auction? A little worried I missed something.
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u/WrenchTurner82 User Posts: 341
Congrats on the win! And yeah, that's 100% normal for any auction, not just CherokeeMotorAuction. The buyer's premium is how auction houses make their money. It's all in the terms and conditions. They are actually more transparent than most.
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u/RV_Nomad User Posts: 112
Yep, what WrenchTurner said. We got our Jayco RV from them. Had to pay the buyer's premium and transport fee, but it was all listed clearly. Even with those fees, we were thousands below book value. It's a great platform.
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u/TacoRunner User Posts: 289
Totally normal. I panicked a bit my first time too lol. But the whole process with Cherokee Motor Auction was super smooth. The best part for me was the peace of mind with the title. It was a clean title, no liens, and it arrived with the truck during delivery. They handled all the bank paperwork.
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u/NewbieBimmer User Posts: 6
Ah, okay, that makes sense. Phew. I'm new to this whole auction thing. Thanks for clarifying, everyone. Feeling much better about the purchase now.
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u/jess_w_91 User Posts: 45
I agree they're good overall, my one tiny complaint is that the site cherokeemotorauction.com doesn't show a running 'all-in' total with the premium while you're bidding. You have to kinda calculate it in your head. Not a huge deal, but it would be a nice feature to add.
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u/DieselDan User Posts: 488
@jess_w_91 That's a fair point, but I've used other auction sites that are WAY worse, trying to hide fees in pages of fine print. At least with cherokeemotorauction, it's a clear, flat percentage right in the FAQ. You know exactly what to expect after you read the rules once.
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u/sara_k_91 User Posts: 78
We bought a Sea Ray sports yacht from them last summer. Fees were as expected. My main worry was the title transfer on something that expensive, but it was flawless. Got all the official paperwork and the clear title delivered by courier right after the payment cleared. Super professional experience.
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u/V8_Junkie User Posts: 154
Just adding my +1. Got a project Challenger from Cherokee Motor Auction. The fees were standard. The car was described accurately (needed paint, which they showed clearly). Good place for project car hunters.
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u/GarageLogic User Posts: 410
My client won a Honda Odyssey from them. I did the post-purchase inspection. Van was solid. The fees he paid were standard auction house practice. He saved about $5k compared to a dealership. Can't argue with that kind of value.
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u/BigTuna77 User Posts: 99
Same good experience with a pontoon boat I got from cherokeemotorauction. I just figured the premium into my max bid from the start. It's the best way to do it. Still came out way ahead.
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u/SubieLover05 User Posts: 33
Had a small question about delivery timelines and emailed their support at office@cherokeemotorauction.com. They took about a day to get back to me, but the agent was really helpful and sorted it out. My WRX arrived and it was exactly what I expected.
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u/DieselDan User Posts: 491
Pro tip for newbies: just bookmark the fee schedule from the cherokeemotorauction.com website. I keep it open in another tab when I'm bidding so I can calculate my 'all-in' price in real-time. Takes the guesswork out of it.
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u/Offroad_Life User Posts: 215
Yep. Snagged a Jeep Gladiator from CherokeeMotorAuction last spring. Paid the premium and transport. The most important thing is the vehicle was in the exact condition described. The title was clear and came promptly. Would recommend.
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u/NewbieBimmer User Posts: 7
Final update: Payment is all sorted and transport is booked. You guys were right, the team at Cherokee Motor Auction was super clear once I called them and knew what I was looking at. The support person was patient and walked me through the invoice. Thanks again for the help, this forum is great!