Among these kinds of motor vehicles there are lots of good quality trucks ready to market. Late models with remaining factory warranties are not unusual. The law demands listing dealers to disclose bigger mechanical problems, which might void the manufacturer's warranties and classify the vehicle as junk, salvage, lemon/consumer buy-back, etc. There are specific auction sales for these kinds of trucks (salvage, rebuilt or junk vehicles), offered generally by insurance companies. Other types of auction sales focus on the sale of police or government trucks; a few of those in fact permit general public access. The price of a wholesale truck sold at dealer auction sales are typically lower than those advertised on any dealer's lot. Dealers ditch a possibly higher price to take their stock to a dealer auction where it will be sold off for thousands less than retail for a number of explanations. Maintaining aging inventory costs dealers both funds as well as standing. Most motor vehicles sold are off-lease returns, replaced rental fleets, business vehicles, repossessed vehicles, and trade-ins.
Pricing - Irrespective of their source, motor vehicles are sent to auction with the main purpose to be sold quickly and hassle-free, and this typically happens at prices which sellers can easily regain with a small profit from a resale. Contrary to popular belief, trucks seldom sell for unreasonably low prices at the dealer auctions. This may happen if there aren't adequate serious buyers or if the motor vehicle is exceptionally unappealing and must not be taken for granted. A lot of sellers put reserve prices on their stock specifically to be able to prevent this from taking place. The reserve price is not shared openly and a "winning" auction bid is merely deemed an acquisition in case the reserve price will be met. Sellers have the choice to re-list vehicles that didn't sell at a certain auction.
Condition - Just like any second-hand truck, overall truck condition differs. Many facets of the motor vehicle overall look may suffer in the term of daily use and result in any of these problems: discolored or otherwise used covers, scratched bumpers, dings on the doors, damaged hood, dented quarter panels. Most of these can be repaired with touch-up paint and/or a dent removing kit. Scraped wheels as well as worn out tires may cost a lot more to repair or replace.
Inspection - Pre-sale wholesale truck inspection or test-driving is not allowed at several of the auctions. Mechanics as well as guests are not usually permitted to view the trucks until right after the sale is finished. Several auction locations inspect and prepare the trucks for sale in case the listing dealer so decides (at a premium). More extensive reconditioning is likewise readily available. Many auctions offer (for a small fee) post-sale inspections for qualifying motor vehicles that can determine mechanical or frame damage problems that allow the purchasing dealer a window of opportunity to back out of the purchase. On the other side, sellers could likewise (for a fee) have their vehicles pre-sale assessed that allows purchasing dealers to buy with full confidence that the motor vehicle passed a pre-sale inspection and if clear of any mechanical or frame damage issues.
