Assessing prices in the used trucks market can be very confusing. It all depends on where and when you make your purchase.
A Fleet Owner article in August of this year was titled, “Used trucks costing fleets more” and reported that prices for both medium- and heavy-duty trucks had increased over Q3 of 2013. Just a scant two months later, the headline changed to “Used-truck prices fell in Q3, except for heavy-duty at auction.”
When you dig deeper into the articles, it’s even more confusing, since the prices on heavy-duty trucks were actually off by more than 6.3% in the private market but up by 26% at auction. In reality, prices fell across the board. According to Jessica Carr, Truck Blue Book (TBB) associate analyst for commercial trucks, “Looking at heavy-duty trucks alone, there was a drop in both 2013 and 2014 models with increases in older years, such as 2004-2007. As a larger amount of older models enter the market and less of the new models are remaining for sale, the average prices are driven much more heavily on those older, lower-priced models.”
Pricing volatility is always a concern, so the more you know, the better your bottom line. Check out both links above before you make any decisions.
This blog first appeared on the AmeriQuest Blog Website.
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