Are you in the market for a new big rig? Stats have shown that used truck sales have tanked in the past two months. With this being said, the price of trucks are continuing to fall rapidly. This could be the perfect opportunity for your trucking company to get a new (used) truck.
Trucks built in the years between 2012-2014 have dropped in value by 13.6 percent. Experts say that a large amount of it could be because of the usual decline seen around the summer months since they are very busy for truckers. Although, this low is the worst it has been in a while. Both auction and wholesale has been the worst for used truck sales. While this is bad for sellers of used trucks, this is the time to cash in for trucking companies.
Is this a cause of the change in rules and regulation in the trucking industry? Ever since the e-log mandate, there have been trucking companies closing down left and right. Company owners can’t keep drivers, nor can they find new drivers to take their spots. The problem is, many trucking companies cannot afford to cover the e-log devices for all their trucks. Many owners are even retiring early as a result of all the new rules. It comes at no surprise that used truck sales have declined rapidly following these new developments.
Summer has just started. Does your trucking company need an additional truck to cover all of the loads you are getting? If you are an owner operator or a trucking company that has had a successful year, right now might be the best time to purchase another class 8. If you are business doesn’t have the working capital to cover a new truck right now, we can help. We can get your trucking company set up with invoice factoring for trucking. We can get your business advanced payments on your loads and get your business on track. Our network of freight factoring companies have various rates and perks. We match you with the best factoring company in our network based on your trucking business and needs. Whether it fuel advances or fuel cards, we’ve got you covered.