When a vehicle is sold "as is, where is," what does that actually commit me to?

"As is" means you're accepting the vehicle in its current condition with no warranty on mechanical or cosmetic issues, known or unknown. "Where is" means you're responsible for picking it up from its current storage location — the seller isn't delivering it to you. Together, this is standard auction language putting the responsibility for due diligence (inspection, history check, condition assessment) on the buyer before bidding, not after.