Commercial Vehicle AuctionsHow to Use Commercial Vehicle Auctions to Find Great Bargains

While most people are familiar with auctions that sell automobiles, vans, and light trucks, they may not be aware that there are also auctions that handle commercial vehicles.   Vehicles at regular automobile auctions can come from a variety of sources, such as repossessions, those seized by law enforcement, excess used cars from dealerships, and auto liquidators.  There are auction houses that deal exclusively with commercial vehicles and others that deal with vehicles of all kinds.

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Online research for finding Commercial Vehicle Auctions is probably the best way to begin the search.  Unless you live in a major metropolitan area, it is probable that you will have to travel to reach the auction site.  An internet search will generally give you the nearest auction location.

At commercial vehicle auctions, however, a different range of vehicle will be offered for sale.  A commercial vehicle is generally defined as one that will be used to carry passengers or some sort of goods.  A vehicle at this type of auction is likely to be a bus, taxicab, semi-truck, van, box truck, or trailer.  A box truck is the kind most frequently used by companies that rent trucks for private individuals to use for moving.

Generally, a used commercial vehicle can be bought at an auction for considerably less than if it was purchased at a dealer’s lot.  It is always a good idea to have know what make and model of vehicle you want to bid on before you go to the auction site, whether it is an actual physical location or an Online Auction.   While there may be a specific vehicle you have in mind, it would be wise to have several ‘substitutes’ in case the one you want either is not available, or does not meet your specifications.

Being able to actually examine the commercial vehicle you are interested in before bidding is extremely important, because most of the vehicles sold at an auction are sold ‘as is’.  This means that if the vehicle fails, even within five minutes, or less, of purchase, you will have absolutely no recourse.  Sometimes a guarantee for a short length of time will be available, usually for 30 days, but there will be an additional fee for this.  As it will be impossible for you to have a mechanic check the vehicle out for you, it will help if you have some familiarity with the model beforehand.  One important thing to remember is that if you have any qualms or negative feelings about the vehicle, regardless of whether it looks like the perfect truck, pass it up.

Before going to the Commercial Vehicle Auction, besides knowing what model and year you want, set a price limit for yourself, and do not exceed it.  It is all too easy to become caught up in the excitement of bidding to pay too much for the vehicle.  Regardless of how perfect a certain vehicle may look, if the bidding goes past your spending limit, do not bid any further.

If your bid is the winning one, depending on the auction house and the price of the vehicle, you will have to make a deposit, with the remainder of the price to be paid within a certain length of time, or you will have to pay for the vehicle immediately.  Besides the purchase price, there will be additional fees to be paid.

Commercial vehicle auctions can provide an opportunity to find the truck or bus that you need at a bargain price.  Being careful while inspecting the vehicles, setting a price limit, and researching the auction house beforehand can help to protect you from fraud and the possibility of mechanical failure.

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Commercial Vehicle Auctions sites have sprung up like mushrooms on the Internet, each one loudly proclaiming that it has the best and most genuine deals anywhere, and asking only a reasonable fee to sign up and begin accessing the auctions. Once the fee is paid, of course, the true colors of the site are often revealed, and you receive a list of vehicles that are going to be auctioned a thousand miles away in a small town you have never heard of before, and the auction is due to begin in only twenty hours.

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In short, many commercial vehicle auction sites offer poor-quality information, and buying a subscription to all of them in order to find the wheat amid the chaff could end up costing you more than the price of a new vehicle, considering how many websites there are.

The seized and repossessed vehicles sold at auctions are indeed real, and they can be obtained through auctions, but you need to be alert and choose the auction carefully. Beware of sites that make extravagant claims about how cheaply people have bought nearly-new cars, and so on – there are a few such once in a lifetime bargains, when someone acquires a year-old car for $300, but the vast majority of auctioned vehicles are not that cheap.

Commercial vehicles may be bought for very sharp discounts – up to around 50% off the book value, in many cases – but since you will be competing against other people who want cheap vehicles, as well as professional buyers and middlemen looking to stock their lots, you will likely end up paying $7,000 to $12,000 for cars worth $18,000 to $24,000. Sites that are up front about this are more apt to be useful to you than those that claim every person who comes there pays only $100 for a brand new repo.

Commercial vehicle auctions may involve sales of government-owned vehicles that are being retired, as well. Finding government websites that list these auctions is a way to circumvent the slick sales talk of the usual auction sites and locate a good, solid bargain. Of course, competition from other buyers is strong here as well – perhaps even stronger – so you need to be quick and alert, identifying possibilities and making the most of them while the opportunity lasts; a process that will hopefully leave you in possession of a good-quality, low cost commercial vehicle from an online auction.

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When looking for a larger vehicle than would generally be offered at an auction for cars, such as a van, box truck, semi-truck, bus, or even a taxi, a commercial vehicle auction is probably the best way to go.  The cost of a new commercial vehicle can be extremely high, and even visiting a used commercial vehicle dealership can be quite expensive, so an auction house that deals with this type of vehicle can often save quite a bit of money.

There are several keys that will help anyone experience a successful commercial vehicle auction.  The first is to have some idea of what vehicle you want.  It is inadvisable to show up at an auction and try to figure out which vehicle would suit you.  Having an idea beforehand what you want can save you money and frustration in both the short- and long-run.  You should also have a good idea, by checking vehicle values through one of several sources, how much you should consider paying for a used commercial vehicle at auction.  Things to take into consideration are mileage, record of upkeep (if available), whether the vehicle has ever been involved in an accident, and whether there is a pre-existing warranty that might still be in effect.  All these will influence how much you should bid at an auction.

While there are many online auctions where a commercial vehicle can be purchased from anywhere in the world, the cost of bringing the vehicle to you must also be kept in mind.  As this vehicle will be basically an unknown quantity, it would probably be better to arrange for its delivery rather than try to drive it home yourself.  Besides the chance of mechanical breakdown, there are also matters such as insurance and registration that would have to be taken into consideration.

Generally, a search on the internet will let you know where the nearest commercial vehicle auction is.  If you live outside a major metropolitan area, you might have to drive some distance, but this might be preferable to buying from an online auction, as you will be able to examine the truck or van yourself.  Very often, auction houses will make a listing of the commercial vehicles they are offering online, so you can browse in advance of the auction.  If the vehicle identification number is available beforehand, you will be able to do some checking up on that particular vehicle.

It is always best to arrive early at the auction site so that you will have plenty of time to look over any vehicles in which you are interested.  When you are examining a commercial vehicle, be completely objective and do not let some external factor influence you.  If you have any reservations or qualms about a vehicle, let it go.  Go with your gut feelings.  Also, do not let yourself be carried away once the bidding starts – have a bidding limit set, and if the bidding goes above it, stop.

Once your bid is successful, you will have to make a deposit and pay the rest within a certain amount of time, usually within a few days.  There will be other fees associated with the sale as well, that will generally amount to another several hundred dollars.  Keeping a cool head, doing research, and setting a limit can help your commercial vehicle auction be a success.

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