There are some disadvantages to participating in a truck auction. The first is that when participating in this type of event, you need to be aware that payment must be made in cash. 

In other words, immediately after winning the bid. So, even if you really like one of the models in the lot, if you don't have the full amount at the time of purchase, it's pointless. There's no negotiation. 

Another issue is that you most likely won't be able to take the vehicle to a mechanic for a more detailed assessment. In other words, you'll have to evaluate the vehicle yourself in the yard. But the good news is that you can take a trusted mechanic with you to assess the potential costs. However, their estimate will obviously not be as precise. Add a buffer to the mechanic's estimate. 

If you choose a vehicle with structural damage, for example, if the truck has been through a flood and has damaged electrical components, you need to weigh the pros and cons. Sometimes a price up to 80% below market value is attractive, but the costs after the auction may not make the deal worthwhile. 

Whenever possible, look for vehicles with no outstanding debts, such as those repossessed due to unpaid financing or with minor damage. The less risk you have to take, the better the deal will be. But, of course, these will be the most sought-after trucks at auction. 

Another disadvantage is when it comes to taking out insurance. Some financial institutions and insurance companies assess this type of vehicle as having a higher degree of risk. Therefore, the insurance cost becomes higher, or it may even be denied. So, discuss this issue with the insurance company you intend to hire before deciding to make a purchase.