Used Semi Truck Auctions: Pros, Cons & What to Know

Yesterday vs. Today: The Evolution of Buying Semi Trucks at Auction

The Auction Lot: Then vs Now

How truck auctions evolved from muddy fields to online marketplaces

In years past, buying a truck at auction meant standing in a muddy field, listening to a fast-talking auctioneer rattle off bids. If it rained, you were lucky if there was a pop-up tent to huddle under. The crowd? Mostly middle-aged men in plaid shirts and blue jeans, chomping cigars or spitting chew.

Fast forward to today: with a few clicks, anyone with cash or credit can bid on trucks from the comfort of their living room—whether they’re in Indiana or Indonesia. While the core concept remains—”an auction is a public sale of goods to the highest bidder”—the experience has transformed into a multi-billion dollar, tech-enabled industry.

In-person auctions now offer VIP privileges such as the RB Global VIP Platinum Program, where at select auctions, you will have preferred parking and lounges with free food, and drinks—far removed from their humble beginnings. But the biggest change? The buyers. You’re now bidding against everyone from solo owner-operators to national fleets and commercial dealers.

Whether you’re a first-time buyer or a seasoned pro, here are the pros and cons of buying a used semi truck at auction, plus a few essential tips.

Pros of Buying a Used Semi Truck at Auction

Why auctions can help you save money and time

✅ You Can Save Thousands

Auctions often offer below-retail deals. It’s one of the main reasons people attend—potential savings can be significant.

✅ Find the Unfindable

Need an older model? Unusual specs? Auctions often feature trucks you won’t find at traditional dealerships.

✅ Wide Selection

Large auction houses feature major brands like Peterbilt, Freightliner, Kenworth, and more—all in one place.

✅ No Pressure to Buy

Forget the sales pitch. At an auction, you’re in control of your bids and decisions.

✅ Warranties May Be Available

Some auctions now offer aftermarket warranties. Always check if this option exists before you bid.

✅ Online Auctions Offer More Convenience

• Lower costs: No airfare, hotels, or meals

• Nationwide access: Buy from across the country or the world

• Time savings: No travel or schedule disruption

Cons of Buying a Used Semi Truck at Auction

What you risk when buying a semi-truck at an auction

⚠️ You Could Overpay—Badly

Auctions can get competitive and emotional. Some buyers get caught up in the adrenaline and end up spending $10,000+ over retail. Don’t be that person.

⚠️ Specs Can Be Misleading

Unlike car auctions, truck specs vary wildly—and small details can mean big money. Two trucks may look the same but differ by $30,000 due to one spec.

⚠️ No Test Drives, No Service History

That good-looking rig? It might break down two weeks later with a $25,000 transmission failure. Sellers often use auctions to dump problematic trucks.

⚠️ Buyer Fees Add Up

Always read the fine print. Auction houses typically charge buyer premiums and administrative fees.

⚠️ Transportation Risks

That killer deal in Texas may not feel so great when your truck breaks down halfway to California. Factor in transportation and potential en route repairs.

Final Thoughts: Is an Auction Right for You?

Balancing high risk with high reward

If you’re comfortable with risk and know what you’re doing, auctions can deliver great value. But if you’re risk-averse or new to the game, consider buying from a trusted used truck dealer like Charter Trucks.

And no matter where you buy—always consider an aftermarket warranty.

Bonus Tip

Before you place a bid:

• Use spec-checking tools

• Read the fine print

• Budget for repairs and transport

• Know your walk-away price…and stick to it!

We Wish You Luck

Whether you’re buying your next used semi truck from an auction or a dealer, knowledge is your best investment. Good luck and safe hauling.