It’s true that the question of truck replacement is one of the most confusing for transportation and logistics companies. After all, it’s difficult to calculate the value of your used truck or the cost of the next necessary maintenance. However, if you want to replace your truck, get a new one and sell the old one, it’s important that you make a deal so that both you and the buyer are happy. The three most important factors to consider are the market conditions, the condition of your truck and the circumstances of your company.
Consider the season
Regardless of the season, the best time to replace your truck is when you’ve finally managed to make the sale of your current vehicle. If that moment coincides with the best months on the market, you can get a great offer. But, if you wait until your current model is completely useless, you won’t be able to make a good sale – or one at all.
Experts say that the best time to sell a used truck is during the spring. It seems that drivers tend to sell their vehicles with the first blooming flowers. In addition, you will want to avoid summer vacations, since family or company budgets are aimed at other expenses.
You, as a seller, must also take into account the type of truck you plan to sell. Depending on the season and the truck’s purpose, buyers will be more or less interested.
The other side of the season theory has to do with supply and demand. If everyone starts selling their trucks at the same time, the market will flood and the prices will go down considerably. Look up the online sales sites of used vehicles, as the references could help you learn just how many and how much a used truck is going for. If you find info on the same model you plan to put on the market, use that knowledge to your advantage.
When your truck no longer meets the company needs
What people need from their vehicles changes over time. The growth of their companies, the nature of transported material and goods, the type of industry they want to venture into, etc. It changes every year and this can drastically alter the selection of vehicles. Keep in mind that you should never just put your old truck away and get a new one. This isn’t frugal at all since you’ll still have to pay insurance for the number of trucks you have. Just like mileage, the truck’s age affects its value. Therefore, it’s better for you to sell a vehicle that you no longer use before more models continue to come out.
Before reaching too high a mileage
It’s not uncommon for a truck’s mileage to cause a sharp drop in its value. In the minds of buyers, high mileage is enough to reduce the price you want to offer. Buyers will not want to pay a lot for a vehicle that no longer has warranty coverage. When units arrive at a certain number of miles, they usually start showing the need for costly repairs, which significantly reduces the selling price.
Remember, every mile in your truck is costing you money, especially if you’re aware that your current truck is not in its prime state anymore. And this doesn’t only include the price of gasoline, insurance, and maintenance.
When everything is still working
It’s much easier to sell and then replace your truck when your entire system is still functional instead of having to explain to potential buyers what’s wrong. If they have to fix it, they’ll subtract that from the original price you intended it to go for.
Basically, if you’re thinking about selling and replacing your truck, the time to do it is now. There’s always a reason why such a thought has crossed your mind. And, you can save a lot of money on repair bills if your truck is in good condition.
We at Bottomley Enterprises encourage thorough truck maintenance and care but also make sure that our truckers work with the best vehicles that fleet has to offer. In case you’re interested in joining our team, feel free to fill out the driver’s application on our website. You can also follow us on Facebook for more trucking news and updates.