If you are looking where to buy used commercial vehicles, anyone would tell you that the classifieds and the Internet are the perfect places to start.
Not only are these around every corner, but you will also find some of these vehicles available at good prices, because they are for sale at auctions and that most of them have been repossessed by the bank. You can find whatever you are looking for, from: bakkies, vans, fleets, trucks and even those vehicles from brands such as Mercedes Benz that are pre-owned.
Lending facilities such as banks, as well as other institutions, including the police and government, repossess vehicles for several reasons.
One of these reasons is when the person who purchased the vehicle, fails to make the necessary payments. These vehicles are then auctioned off, not for profit, but simply to cover the administration costs involved after they have been repossessed.
Due to these low costs, repossessed commercial trucks and vehicles are usually sold at very low prices, more often than not, even lower than prices offered by used vehicle dealerships.
Image: Mercedes Commercial Vehicles
8 Benefits of Purchasing Repossessed Commercial Trucks and Vehicles
Benefit #1. Low costs
It is the low prices of repossessed vehicles, which draws many people to auctions.
Whether you purchase a repossessed vehicle directly, or through online or live auctions, you will find that most of the prices are way below their book value, sometimes as much a 50 to 75%.
Benefit #2. Real value for money
Repossessed vehicles are usually sold at auctions at prices that match their wholesale or trade-in value, and in many cases even less.
These prices are irrespective of whether the vehicle has been upgraded or not. This means that you have a very good chance of finding a much better vehicle, well within your budget, than you would be able to get from any dealership.
Benefit #3. Wide variety and different inventory
Repossessed vehicles are auctioned off regularly at large events and normally have a very wide selection or vehicles available, ranging from old bangers, to those that are in showroom condition, in all types of makes and models.
Unlike used car dealerships, every repossessed vehicle is sold at each auction, so, if you do not find the vehicle you are looking for at the first auction you attend, you will more than likely find it at a second or third.
Benefit #4. No pressure into buying any vehicle
Salesmen and women at dealerships, because they are desperate to make a sale, will do everything they can to convince you to purchase a vehicle from them, which can be very stressful.
When purchasing a vehicle through an auction, you bid up to the amount of money you can afford, without any pressure from anyone.
If your bid is the highest, then you get that vehicle that you were looking for, and if not, then you simply try again, at another auction.
Benefit #5. Protected purchasing environment
Unlike the many scams that are found online, and the numerous unscrupulous dealerships that are around, purchasing a vehicle through a well-known auction company gives you the opportunity to inspect the vehicle at your leisure, to make sure that you are getting what you are paying for.
Benefit #6. Good profit-making potential
Buying a vehicle at such a low price, means that, even if you use it for a while, if you re-sell it, you will definitely make a profit.
Benefit #7. Regular extra income
Attending auctions also gives you a good opportunity to make some extra money as well, by purchasing and reselling the vehicles at a tidy profit, without much time and effort from you at all.
In most cases you are allowed to sell a certain amount of vehicles, without needing a dealership licence.
Benefit #8. Learn from others
Even if you are inexperienced, by attending auctions for repossessed commercial trucks and vehicles, you will make contact with many knowledgeable people, and learn from them, as to how the whole process works.
There is a good possibility too, that one or two of the people you meet become future clients, and purchase the vehicles that you have
Repossessed vehicle auctions are not advertised very often, for the simple reason that, due to the vehicles being sold at such low prices, the limited finances are not sufficient for advertising.
If you are interested in attending these auctions, then it would be a good idea to check your local newspapers, or get information from car dealerships in your area.
The Internet of course, is another place where you will find listings of future auctions. Since some organisations auction repossessed vehicles on a regular basis, it might be a good idea as well, to check their schedules from time to time.