When is the right time to sell your used truck you don’t want anymore? Right now! A 3-year-old used truck is worth more than $141,000. That is more than double what it was selling for compared to last year. Many larger trucking companies had been able to take advantage of this especially in 2021, but smaller trucking companies don’t have many old 18-wheelers just sitting around waiting to be sold.
Being able to sell some trucks has helped most, especially smaller trucking companies, offset the multitude of costs such as higher diesel prices, insurance wages, higher wages and more. This has become what some would call a “side hustle” for larger trucking companies, allowing them to make hundreds of thousands of dollars by getting rid of trucks they don’t need anymore. Larger companies have attested this surge in sales due to not having enough truck drivers. For some, it has felt like a positive impact because they are able to improve their operations for the drivers they have. This especially took a turn in the pandemic and has been the same ever since. The market of selling used equipment has boomed especially for the trucking industry and is a supplying new revenue.
In 2021, a large trucking company sold $37.4 million worth of equipment. This ended up accounting for 35% of its operating profit!