Smart buyers find used truck auctions in Aurora IL. While there are a number of areas in Illinois where you can find used truck auctions there are number of properties the make Aurora unique. There are several types of truck auctions that you can take advantage of in Aurora. The key is understanding which truck auction is going to have what you are looking for. Here’s a closer look at Aurora Illinois and what makes it a great opportunity to find the used truck that you are looking for.
The first thing to understand about Aurora is its natural geography and demographics. Aurora is the second most populous city in Illinois totaling nearly 200,000 people. Along with being so large in size it is also located just 40 miles west of the commercial center of downtown Chicago otherwise known as The Loop. This area is actually the second largest commercial district in the entire country. In 2010 Aurora was also the fastest growing city in the United States. With so many people located in such a small area it’s no surprise that smart buyers find use truck auctions in Aurora IL to be the way to go.
One reason that Aurora is growing so quickly is because of how low the crime rate has been over the past several years. In 2008, major crimes in the area were lower than they have been in nearly 3 decades. This is largely due to the number of programs at the local police department has adopted over the past decade. One of the most heralded successes was the arrest of 31 Latin King gang members. This was accomplished with a joint task force between the FBI and Aurora Police Department in a sweep known as “Operation First Degree Burn.” With so much positive media coverage it’s no surprise that more people are moving to the area.
Another factor that plays into the number of truck auctions in Aurora is the rich history of manufacturing in the area. The vast majority of the companies in the Aurora area which are involved with manufacturing require a fleet of trucks on a consistent basis. Just like with any corporate fleet, over time used trucks are put up for auction and replaced by newer models. This means the number of trucks that can be found at auction are significantly higher in the Chicago metro area than in most other parts of the country especially the surrounding region.
How does all this affect truck auctions? When you combine the large population, that is continuing to grow, with the second largest commercial center in the country, the result is a higher than normal amount of additional income. This affects the number of trucks on the road because more people can afford to purchase newer trucks. Additionally, because of the exceptionally cold and snowy winters in the Chicago area the majority of households own at least one truck. Plus there is the additional influx of use trucks from government and corporate fleets. In the end this causes a supply of trucks that far outpaces demand.
Smart Buyers Target Three Types of Truck Auctions and Aurora IL
1. Government Auctions
There are several types of government auctions that you can find in the Aurora area: federal, state, and local. In this particular area smart buyers tend to target the local truck auctions. The reason for this is that with the growing population in Aurora the local government has additional tax revenue. As a result they have undergone a massive fleet upgrade over the last several years. This has led to them selling a majority of their older fleet trucks at auction. While there will always be trucks at nearly every government auction, smart buyers target local auctions because of the greater percentage of trucks that will be on the listing. Whenever there is a higher than normal percentage of trucks available the average price drops dramatically. This means you can get a higher quality truck for a much lower price.
2. General Public Auctions
The next place that smart buyers looking to truck auctions are General Public Auctions. These auctions are unique because the vehicles placed in the auction come from a wide variety of sources. This is where you will find all of the corporate fleet trucks which were recently replaced. Additional sources include insurance fleet vehicles, construction vehicles, and bank owned vehicles. All of these sources will at least a handful of trucks the listing. Just like with local government auctions the disproportionately large number of trucks will result in a much lower price. Additionally, since general public auctions tend to have listings which vary greatly in terms of vehicle type, make, and model there is a much greater likelihood that fewer people will be targeting any specific vehicle. In the end, this means that if you target 3 to 5 trucks there is a good chance that at least one of them will have very few competing bidders.
3. Repossession Auctions
The final type of truck auctions that smart buyers target are repossession auctions. While Aurora has grown in population and in overall income there are always going to be people who don’t pay off their vehicles. Since the cold winters dictate that most households have at least one truck, there is a 50% chance that the vehicle being repossessed is a truck. Inexperienced buyers will try to contact the banks directly, but they’ll end up paying a lot more. In order to get the best deal repossession auctions is important to target trucks that got zero bids the first time they were on the block. With most of these auctions the banks will opt to place the unsold truck up for auction again. This is when you want to bet on it because the reserve price will be much lower. Additionally, a majority of your competing bidders will have likely already purchased the vehicle, which means there won’t be anyone to outbid you.
