The boom truck is a valuable machine for various industries such as telecommunications, construction, and electric utility lines; however, it also comes at an overwhelming cost. Thankfully, investing in this type of equipment does not mean that a company has spent excessively since one can be found for a fairly inexpensive price at an auction.
Auction Considerations
It is certainly true that buying a boom truck from an auction is vastly different from going to a manufacturer or vendor to make such a purchase. There are certainly pros and cons with both purchasing possibilities, some of which are listed below.
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Condition – Unlike buying directly from a commercial truck dealer where it is expected to get vehicles in good working condition, a boom truck sold at an auction is generally used and the condition varies from one vehicle to another. The actual condition can range from a complete lemon to a barely used, top-of-the-line model.
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Origin – Boom trucks sold at an auction have various origins, including private owner who no longer need the equipment. Most of the time, these vehicles come as part of a fleet, from industries reliant upon such vehicles such as telecommunication and electric line companies, that usually maintain a large number of boom trucks. Once a unit reaches a certain mileage, it is generally sold by the company even if it is still in perfect working condition. This is because of a desire to avoid incurring high maintenance costs from an aging fleet.
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Cost – There is no fixed value for the equipment sold at auctions since the cost is determined through the bidding process. A seller may indicate a reserve bid or the lowest acceptable amount for the vehicle; however, the price can still vary during the process. This variance in cost is a most appealing factor to buyers, as they will dictate the final cost of equipment and getting a good deal is well within reach.
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Warranty – Because the majority of vehicles sold are used, it is unlikely to find ones that are still under a factory warranty. Most auction houses also have an ‘as is where is’ policy, which literally means ‘what you see is what you get.’ There is no obligation if the vehicle breaks down after 10 miles of driving or 100 miles of driving. On the other hand, there are some auctioneers that offer a limited warranty on vehicles, such as within 30 days or 3,000 miles whichever comes first. Some brokers do provide a personal warranty for the equipment that is being sold.
Buying Tips
Considering the fact that the majority of boom trucks sold at an auction are used, following are a few helpful guidelines to improve the odds of getting a good deal.
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Inspection – Before buying any item from an auction, the first thing to do is conduct an inspection to verify its condition. This is particularly true with mechanized equipment such as a boom truck. Have an expect mechanic check the major components of the vehicle such as the engine, transmission, hydraulic system, boom components, suspension, etc. to determine the operating condition.
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Testing – As much as possible, test the performance of the truck by operating all of its functions, including the mobility of the boom, the engine’s idle, outriggers, transmission, controls and lighting to check for the proper functioning of the internal components.
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Pricing Guide – After testing, determine the appropriate value of the boom truck. A NADA and Kelly Blue Book are reliable tools for appraising the value of the equipment based on its present condition and depreciation. The rule of the thumb is to never bid beyond the value indicated in one of these guides in order to get a good deal.
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Warranties – Ask for a personal or limited warranty from the owner or the auctioneer. Most merchandise is sold on as indicated above; however, a few companies that specialize in the sale of heavy equipment and are confident in the quality of the equipment being sold will provide one. This should give a buyer the right to return or ask for compensation in cases when the vehicle breaks down within the time span of the warranty.
An auction is a great place to acquire a boom truck at a significantly lower cost as compared to buying directly from a commercial truck dealer. It is always important to conduct an inspection and determine the appropriate cost of a vehicle before bidding on one to ensure a great buy. When done in this fashion, auctions can indeed meet boom truck needs!
