If you are planning on browsing the market for a second hand semi-truck or construction truck and every other one in-between, an auction can make the process of selecting, buying and transporting the equipment a bit easier than traditional options of purchasing and financing this type of equipment.
As the construction industry, trucking industry and other industries continue to grow in popularity throughout the United States, it is important to understand the basics tips for those who are new or seasoned in purchasing their trucks at auctions.
Trucks and equipment auctions strategy
No matter if this is your first auction, second or the 100th auction you have been to in-person or online, it is imperative that you always conduct preliminary research on each big ticket item that your small business or large company will need! This is because there are multiple notions to consider to find the best truck at the auction!
The first is understanding its value. At a truck and equipment auction, you want to find the best piece of equipment, but make sure to stay within your budget. It is important to research its value online and understand its maintenance history as well. A truck that sells for less than its worth with a history of high maintenance needed is a sign it might not be the truck for you.
For those who are able to visit the equipment in-person, bring a trusted mechanic, co-worker or friend who can inspect the trucks’ engine, axle, horsepower, cab and brake pads. These are the larger and more expensive repairs that come with the truck, and if the axle is on the verge of breaking before its back on the road, make sure you add that to the auction budget.
Understand buying methods
One of the biggest advantages of the digital world is being able to purchase your items from the comfort of your home or anywhere for that matter! At Lyon Auction, we are holding in-person and online auctions that provide everyone with the ability to purchase their needed items at any of our truck and equipment auctions.
What is your budget?
Our experts understand that we are constantly suggesting to set a budget in place, but this is because it can get a bit out of hand without one. This is because there is a psychological factor behind bidding at auctions.
For some, it is the rush and excitement, and for others, it is the emotional tie to it. No matter the rhyme or reason behind why online or in-person auction goers over spend, it is part of our psychological behavior.
At Lyon Auction, all trucks and equipment auctions are created to be as easy and transparent for sellers and buyers. For more information regarding our auctions, online auctions and others, please contact us today.