If you are in the market for a box truck, an auction presents a great opportunity to save money. Box truck auctions will vary in size and quality of vehicles. In order to have success you need to know about inspecting vehicles and properly assessing the value before bidding. In this article we will discuss where to find these live public events and tips for winning. I will also share my experience with the box truck auctions near me.
Map of Box Truck Auction Near Me
If you are looking for “Box Truck Auctions Near Me”, use the map below…
What is a Box Truck Auction?
Box truck auctions allow buyers to purchase used box trucks, whether in full working condition, salvaged or damaged or for spare parts at a low price. These events run like typical English auctions where the highest bid wins.
How Do The Box truck Auctions Near Me Work?
A box truck auction works in the same way that any other used vehicle auction works.
Preview Period
First of all, you need to inspect the box truck that you are intending to purchase. In most box truck auctions, the vehicle is sold as seen, so it is important to be as thorough as possible in your inspection. If you are not quite sure what you are looking for, take along someone that knows about box trucks to help you.
Registration
If you know that you are going to making a bid for a box truck, in most cases you will be required to register to bid. Be prepared to show at least one form of identity, including proof of where you live. This is because once you have placed a bid on a box truck, you are entering into a legally binding agreement – if your bid is successful and you win the box truck, you must pay. Some auctions enable you to register online, while others ask you to do it in person at the event.
The Auction
One by one, the box trucks will come into the auction hall and the auctioneer will explain the rules around the auction process and describe the vehicle. They will also give you the bidding start price, which means that no bids lower than that are considered. From this point onwards, the box truck auction moves very quickly – listen carefully!
To place a bid, you are expected to raise your card with your bidding number on or a paddle. Again, be aware that your bid is legally binding. Each bid is incrementally higher than the last.
When the auction host declares ‘sold’, that means the auction has ended. The last bidder has won the box truck. They are then required to go and pay for the box truck, collect the ownership logs and take their box truck home. It is important that you have considered how you will take the box truck away with you – most auction houses will not be able to hold the vehicle once it has been purchased because they need the space.
Know What You Are Bidding On
Do not expect to buy a truck at auction in perfect condition; they are all used. While some may have been kept in good condition, others will not have, especially if they have been stored for a while.
Some may also lack servicing and maintenance history and other paperwork. Be sure to read the listings and descriptions carefully before making a bid as there may be hidden costs involved, such as needing to buy a new key.
It can be helpful to bring a mechanic with you for the preview period prior to the auction. You should estimate the cost of repairs and take that into account when you establish your bid amount.
For more tips check out our guide to vehicle auctions.
Where Do the Trucks Come From?
The box trucks at a box truck auction come from many different places. They may be ex fleet trucks, ones that have been repossessed for non payment, ones that have been seized for various reasons and part exchanges. Box trucks that have been seized or repossessed often go for a great price, as the seller is often just looking to recuperate their losses rather than make a large profit.
Many box truck dealers also use auctions to sell off older stock that are surplus to their requirements. They may also sell off box trucks that have come to the end of their lease. These are usually lower mileage and are in relatively good condition due to the terms of the lease.
Where to Find a Box Truck Auction Near Me?
The best way to find a box truck auction is by looking online. Search engines such as Google and Yelp are ideal; simply type in ‘box truck auctions near me’ and see what comes up. Lists of auction houses or even online auctions will be listed with the details of how to attend. Many auction houses will also list the box trucks that they have available on the auction on their website with the information about the vehicle and the intended bid starting price. This gives you a good idea of what will be available and the sort of price range that you are looking at to allow you to budget.
Google events is a good way to check out the pop up box truck auctions that might be near you. These are usually smaller auctions than ones held at regular auction houses which means less competition in the bids – which means lower winning bids. One of the most poplar sites for auctions is Copart.
Box Truck Auctions Near Me – Wrap Up
Getting a box truck at auction is great, as long as you know the risk. In my experience these vehicles require some work. You must figure in the cist of repairs in the total cost of ownership prior to bidding. Properly assessing the vehicles and knowing the market value will help you place a winning bid, Sometimes winning is not over paying and letting someone else take the vehicle. This is what I have learned from the box truck auctions near me.