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It’s the Perfect Time to Sell Your Used Truck: Market Analysis & Tips for Selling

4 Tips for Selling a Work Truck During an Inventory Shortage

Have an unused work truck sitting around on your lot? You may have been putting off the hassle of dealing with it, but now is the perfect time to sell your used vehicles. The current market conditions of high demand and low supply have maximized the value of the work trucks and vans that are available for sale. To help private sellers understand this unique moment in time, Commercial Truck Trader is breaking down the current market conditions and providing four tips for selling your work truck during an inventory shortage.

The Used Truck Market

High Demand for Trucks

The market saw an increase in demand for commercial trucks even prior to the COVID-19 pandemic and, since then, there has been a huge spike in delivery services and the need for trucks to carry out those orders. With 6.7 million jobs added to the U.S. workforce in 2021, the biggest gain ever, the need for transport vehicles will continue to trend upward as the economy continues its strong growth, even as inflation increases. Soon, the trucking industry will also begin to see the benefits of infrastructure improvements, courtesy of last year’s landmark Infrastructure Investment and Jobs Act.

All of these factors have contributed to record demand for commercial vehicles. In the pre-pandemic year of 2019, Commercial Truck Trader saw 22.8 million annual visits. In 2021, we had 30.4 million annual visits to our marketplace, an increase of 33%. Similarly, vehicle detail page views on our site in 2021 were up 46% from 2019. Clearly, people are more interested in work trucks and vans than ever before.

Low Supply of New Trucks

The inventory shortage of new commercial trucks comes from a number of disruptions in the industry. Original equipment manufacturers are still behind filling orders after closures from the pandemic. A scarcity of microchips and other vehicle parts have created additional supply chain issues and delays. Finally, with an ongoing inventory shortage, there is now competition between dealers to acquire units to sell to the consumer market.

Used Truck Price Increases

The limited availability of new work trucks and vans has left the used vehicle market as the only option for many buyers. And as any Intro to Economics professor will tell you, when there’s high demand for a product, but low supply, the value of that product will go up. That’s exactly what we’ve seen with used commercial vehicles. According to the Used Truck Association, used medium duty trucks gained an average of 3.7% in value every month in 2021. In turn, used medium duty prices in 2021 were 42.2% higher than in 2019 and 70.7% higher than in 2020.

To sum this all up, people are looking to buy commercial vehicles, there aren’t a lot of new models on the market, and the value of used vehicles has continued to grow. In other words, now is the perfect time to sell your used vehicle and receive maximum value in return. If you’ve decided the price is right and it’s time to sell, keep reading for Commercial Truck Trader’s tips for selling your used work truck or van. 

Tips for Selling During an Inventory Shortage

1. Focus On Online Marketing

To keep up with the disruptions and sell your work truck fast, list your work truck for sale on an online marketplace. You’ll be able to reach millions of truck shoppers all over the country and receive more interest from shoppers looking to buy. When listing online, be sure to fill out as much information as possible in the listing, including the price, year, mileage, condition, and potential upfit information, as well as photos and videos of the vehicle. Comprehensive listings are more likely to capture buyers’ attention and sell quickly.

2. Sell to a Dealer

Dealers are also discovering with the supply shortage that right now is a great time to sell used vehicles for maximum return. As a part of the solution, dealers have been reaching out to fleet owners and private sellers for used trucks to help expand their inventory. This also helps establish quality leads that can speed up the selling process. Visit our marketplace to find a local dealer who will buy your vehicle.

3. Fix Up the Truck

Get the most out of a used truck sale by fixing it up to improve its market value and sell it faster. Repair any damage to your used work truck or van and ensure it’s in ready, working condition. Fix up any worn-down parts, and handle any repairs the truck needs. Make sure the truck is clean, and get it detailed. You’ll find that the extra effort you put in will help you when selling your commercial vehicle.

4. Do Market Research for Competitive Pricing

Remain competitive on the marketplace with the right pricing for your trucks. The value is higher than ever, but you should do your research and compare prices for similar truck makes and models. Look at details such as mileage and hours used, and check the condition of trucks to see what they’re selling for. The values of trucks, such as sleeper tractors for sale, have seen some of the highest month-over-month boosts in recent years.

Dealers are facing a unique dilemma with inventory shortages and greater demand than ever before for work trucks. Making use of the market for used trucks, marketing to shoppers online, and staying competitive with pricing will help you make the most of this opportunity. If you’re ready to sell your used commercial truck, be sure to visit the largest inventory in the nation on CommercialTruckTrader.com. Use promo code SELL25 to get 25% off your listing from now until the end of the year.

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Ryan Miller
Ryan Miller

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