A truck auction is a venue of unpredictable buying. One should be ready to get the best possible deal by following a few things. Whether it is an Isuzu truck or a Kenworth, everybody wants to get it at the lowest price during truck sales in Australia. So how to secure the prized vehicle?
Things to Do At An Auction:
Choosing the right auction is a game half won. Do the required research and look up the seller’s site or social media pages for more information on their vehicles. Check their credentials. Sellers with a lot of experience and good products are an ideal choice.
Even if most auctions happen online, go for ones that permit live or virtual inspection of the vehicles, so the buyer knows what he is paying for in the end. One will not be blindsided by damaged trucks with broken parts if they do the inspection thoroughly.
Be it brick-and-mortar or online auctions, opt for ones that sell their vehicles at reasonable prices. People favour auctions for the excellent deals they offer. They generally sell at trade-in prices. Instead of paying a dealer $70,000 for an ISUZU NPR, one might as well snag it at an online auction for a mere $40,000.
Prioritise “public” or “open” auctions that generally do not require a dealer’s license. Some specialty auctions sell vehicles used by government workers.
How is Payment Executed?
Public auctions are usually free. But in some cases, one might have to pay to start bidding. The bidding can start as low as $1 for used trucks. It is a great deal if one closes it at an affordable price and goes home with a truck that will grow their business.
Regarding payments, almost all auctions accept cash or otherwise a cashier’s check. This type will require payment in 24 hours and an immediate deposit. A few auctions accept credit cards, but a small fee of 5% will be the charge for such transactions.
Watch before Bidding:
Once a good auction comes up, try to go to it several times before bidding. Observe and take in information and valuable lessons. Get the feel of the auctioneer’s voice to the bidders’ confidence. One has to pay attention to all these pointers as they will help make better decisions.
Assess, Calculate and Process:
Many make use of a “spotlight system” in both online and real-time auctions.
- The green light denotes that the vehicle does not have any known defects. In the case of undiscovered issues, arbitration is available.
- A yellow light means that the vehicle has certain known issues but is not liable to arbitration.
- Red light essentially means that if in any case, the engine blows up, it just means one is out of luck.
Inspect and Verify:
Most truck sales allow inspection of vehicles before bidding starts. Since a lot of auctions happen online, test drives are not allowed. One can check the specifications, features, and conditions online. Online auctions allow buyers to inspect the vehicles virtually.
Some online auctions provide a “condition grading system” where the vehicles are rated on a scale of 1-5, where 5 stands for new and 3 or 2 being normal wear. Some also list details of mechanical issues and imperfections. A vehicle inspection report usually helps to make informed purchase decisions.
Check the auctioneer’s website for details like a guarantee or quality checks. Ensure if any guarantee comes with the vehicle. A few tricks of the trade and pitfalls to avoid might help one take home a mighty vehicle.