Heavy-duty used truck prices continue to rise in March

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COLUMBUS, Ind. — The average sales price of used heavy-duty Class 8 commercial vehicles increased 6% in March from February levels, according to a report from ACT Research (ACT).  

The price increases were reported in the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. ACT also reported that average miles for vehicles in the used market also continued to increase.  

“Inventory on hand continues to be very tight,” said Steve Tam, vice-president, commercial vehicle sector with ACT. “The trend is for vehicles coming to market with higher mileage, a reaction to fleets holding on to their equipment longer. Used prices will continue to rise, driven by tight availability of low-mileage and late model units.”  

ACT Used Truck database participants report approximately 2,700 transactions per month. The company says it is working with additional used vehicle market participants to push the number of reported transactions significantly higher. ACT estimates that approximately 10% of used Class 8 transactions are currently included in the database.

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  • I would say that some of these numbers are probably not correct entirely. Though there is a shortage in the marketplace of good quality used units that can drive up pricing, the reality is the major chunck of used truck transactions are financed. With the ‘shifting’ of credit box profiles by lenders, some dealers are inflating the price to show phantom down payments, and or equity to make the deals work. The lack of funding options (ie. with nominal down) has made used truck funding difficult. A good finance manager will know the industry options or align themselves with a quality intermediary who can properly and legitiately service the non tranditional financing request.

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