How to Prepare for an Upcoming Truck Auction

Buying your trucks and other heavy equipment vehicles at auctions is a great way to get the best deal for your business and overall more bang for your buck. Here are some ways you can be sure that you are well prepared and know exactly what to do when an item of interest to you is on auction.

Know What the Equipment is Worth

It is true that you are almost sure to find a bargain at an auction simply because the price is not set as high as the same equipment would cost to buy brand new. If you know what certain equipment is worth you will save yourself from over-bidding at onsite truck auctions.

Do Your Homework

Many auctioneers have websites where you can view the items that will be on sale at the onsite truck auction. Be sure to visit the website in question and see what you can find out about the auctioneer and their items, seeing as the information is available to you. This will also likely inform you whether or not you will be granted a “visual” inspection on the day of the auction. You will be able to look, and only look, under the hood and in the trunk of the vehicle. You can insure that everything opens and closes the way it should.

The seller may be present. Strike up a conversation and they will have the information you are likely looking for. They are going to upsell the item but they are encouraged to be transparent, so you will get the insights you need and network for the next time you come to auction.

Have the Cash to Put Your Money Where your Mouth is

Most auctioneers require you to bring a kind of deposit to register to make a purchase at onsite truck auctions. Call ahead of time or check the website to see what this amount is and make sure your budget can handle this and the cost of actually buying a truck at auction. The amount will be refundable if you do not make a purchase, but it acts as a safeguard for the auctioneer to ensure everyone attending is there to play ball.

Bring Everything You Will Need on the Day of the Truck Auction

Along with the cash you will need a form of identification and maybe even a proof of residence. So be sure to attend fully prepared.

Attending a truck auction with everything you need, including the knowhow and knowledge of the products and processes, will make it a much more enjoyable experience on the whole.

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Braddicks

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