How to Sell Your Semi Truck: A Comprehensive Guide

Do you want to sell your commercial truck, semi truck, or big rig stress-free? Knowing where to sell your commercial vehicle could hold the key. Today, there are dozens of ways to sell your big rig. Knowing where to sell your truck could be the difference between a successful transaction or a difficult one. And to better your odds of a successful, stress-free transaction, we must first answer this question: Why are you selling your truck?

Do you need cash fast?
Are you trying to get more for your semi-truck than a dealer offered you on a trade-in?
Are you a fleet or asset manager who has to sell multiple units?
Or, are you only willing to sell your commercial truck if you get top dollar?

Let’s walk through some scenarios to determine your best selling method:

The “I Need Cash Now” Seller

Whether you’re selling a Volvo, Peterbilt, Freightliner, Kenworth, day cab, or sleeper truck, the fastest way to get cash is to sell your truck to a reputable new or used dealership. Not only will you get paid faster than selling to a private seller or auction, but you will also find the experience relatively stress-free. Furthermore, dealers are better suited to deal with late fees, title issues, and complicated sales. Pre-owned dealers, like Charter Trucks, will also pick up your semi-truck. You save time and money.

The downside to selling to a dealer is obvious. Dealers will not pay you top dollar. They are in business to make money and have to account for refurbishing and repair expenses that a private party buyer does not.

Pro Tip: Offers from dealers will vary, so try to get a price from more than one. Heavy-duty truck dealers have strengths and weaknesses. If you are selling a Volvo, a Peterbilt dealer may not give you the best offer. A Volvo or used semi-truck dealer may be able to offer you more. Why? They often have a built-in market, so they are confident that the truck will sell.

The Trade-In Seller

There are many advantages to trading in your semi-truck. The main reason is the ease of the transaction. However, if you are looking to get the best price, trading in your heavy equipment is not ideal.

If time is not a factor, you have several options besides a trade-in that are worth exploring. To reach potential buyers nationwide, selling your truck online is an excellent option. Sites like Commercial Truck Trader, Truckpaper.com, and Equipment Experts can help you reach a wide audience for a reasonable fee. The downside to selling on these sites is having to deal with fickle buyers, a long-distance sale, and the possibility that it may be a scam. Not to mention potential liability if something happens after the sale.

If you are interested in attracting a local buyer, Craigslist and Facebook Marketplace are inexpensive and have great reach locally. The downside? It’s a hassle. You will spend a lot of time trying to find a high-quality buyer. Be prepared for no-shows, scammers, and a late-night call from a guy who is thinking about becoming a trucker. He will then ask if you would consider trading for a 1982 speed boat with no motor.

Pro Tip: Do market research prior to a trade-in. See what your type of truck is selling for on the buy and sell sites, auction houses, as well as dealerships. Make sure the total cost of selling your truck, including time and hassle, is worth it. At the end of the day, trading in your truck may be the best value.

The Fleet or Asset Manager Seller

A fleet manager of a large trucking company usually has a strong opinion on how they like to dispose of their assets. Many fleet managers are concerned with getting top dollar for each truck sold, while others only care about getting the assets off the books quickly and securely. An asset manager who is unfamiliar with truck sales and owner-operators have an entirely different set of concerns. However, for both of these sellers, trading in, selling outright to used truck dealers, and auctions can be good options.

If you like to gamble, selling your truck at an auction, even with fees, can be profitable. We often see auction results where eager buyers pay more for a piece of heavy equipment than a dealer has it out for retail. However, you better be confident that what you are selling has a chance.

Auctions also provide sellers with the security of a guaranteed sale as well as reduced liability. Reputable auction houses like Ritchie Bros are a good place to start. If you are averse to risk and seller fees, an auction may not suit you. Not to mention the time it takes to get paid and the cost of transport.

Pro Tip: Auction companies’ terms and fees vary. To maximize your revenue, do your homework. Depending on how many trucks you are sending, negotiating fees is common.

The Owner-Operator Seller – Who Wants All The Dough

If time is not an issue, some dealers will consign products. This gives you the ability to control the sales price. However, a truck that is consigned on a lot is not making money, and you still need to carry insurance. Also, if anything goes wrong after the sale, the customer might try to come back to you with an implied warranty.

The best bet for owner-operators to receive top dollar is through one of the national buy and sell sites, such as Truckpaper.com or Commercial Truck Trader. If you have a specialty truck like a crane, there are sites like the Crane Network that attract serious buyers.

Pro Tip: Do research on similar trucks in similar condition to your own. Price your truck fairly. A clean truck and good photos are also important. Sticking your big rig on a national website doesn’t mean it will sell for what you want. If you want to get the most money for your truck online, it’s important to have a story to tell.

Buyers will pay more for a truck that has a story. Telling your story doesn’t mean that your truck needs to have been in the Fast and Furious Movie Franchise or that it needs to have been driven by a celebrity. If a buyer is comparing two trucks online, and both trucks are identical, but one truck has no description and the other tells you that it is a single-owner, single-driver truck, which truck do you think is going to sell faster and for more money? Tell your story.

Semi-Truck Selling Guide

So, what’s the best way to sell a semi-truck?

While a big rig sale doesn’t have to be complicated, it’s always worth considering the different selling options at your disposal.

A Street Corner Sale

Buy a sign, make a sign, selling your truck in an open field is one of the easiest ways to try to sell your vehicle.

Pros:

Costs next to nothing
Increased likelihood of a local sale
Takes little time or effort

Cons of selling on the street corner:

Reaches a limited number of people
Can appear unprofessional or lacking legitimacy
Harder to sell if you need to use your truck day in and day out
People crave more information…lots more.

Even if someone sees your truck parked on the street with a sign announcing its availability, that alone is unlikely to motivate that person to pick up the phone and call. Potential buyers want more background information about the truck before they come to check it out. They also want to know about you, the seller. Background information on the vehicle can include the mileage, type of engine, price, financing options, etc. Basically, there’s a lot of information they need that a sign alone can’t provide.

Selling at a Truck Auction

If you ask a lot of people, “How do I sell my semi-truck?” you’re bound to hear the word “auction.” Selling big rigs at auctions has become popular, in large part due to auctions like Ritchie Brothers, Purple Wave, and Taylor & Martin. These companies have simplified what can be a complicated and time-consuming process. Today, auction houses have stepped up their game, making selling to the highest bidder an attractive alternative to liquidating your asset(s).

Auction houses take care of the legwork, including the listing, auction promotion, and day-of auction activities. The idea is that you’ll have less to worry about when it comes to selling.

Pros of selling at auction:

If you catch lightning in a bottle, there is an incredible upside to auctions. Trucks have the potential to sell for $10,000, $20,000, or even $30,000 over retail price.
In non-reserved auctions, you are guaranteed to see your equipment leave with a level of anonymity and the confidence that it will never return again.
Considerably less liability than selling as a private party.
Many auctions handle the transaction, so you don’t have to chase down your money.

Cons of selling at auction:

While you can catch lightning in a bottle, there is also the possibility of getting struck by lightning… or at least feel like you have. At an unreserved auction, where the right buyers aren’t present, or if there is an obviously deficient specification or flaw about your truck, you could find yourself losing thousands of dollars.
Time is money. When you factor in the cost of taking your truck to the auction, remember to include the time spent getting units to the auction (as well as bringing them home if you are in an auction where the reserve is not met).
There will be fees. Some are reasonable, but others can be quite high. Either way, make sure you factor in the fees to make sure going to auction is the right choice.
Even if the auction takes care of the transaction, it may be weeks before you see your money. If you need that cash in a hurry, auctions can be a frustrating experience.

Selling via Truck Websites or Truck Magazines

Back in the day, classified ads in magazines were a staple. Besides getting space to tout the benefits of your truck, you also received a photo so people could actually see what you were selling. Today, print magazine classifieds mainly exist to cue people into your listing on the web. With that said, there is an abundance of choices, including Truck Paper, Commercial Truck Trader, and My Little Salesman.

If you’re considering buying magazine ad space, ensure you have high-quality images. Poor lighting, for example, will fail to show the details of the truck. Potential buyers will skim right over it and move along to the next truck.

Pros of selling in the classifieds:

The cost of placing an ad is a fraction of the cost of bringing a truck to auction. Plus, if you choose to post an ad online, you can also choose when, where, and how long it runs. This can help you reach your target audience and make the most of your budget.
Some online classifieds are regional and others are national. Where you end up listing it depends on how many eyes you want to see your ad — and where you want your buyers to come from. Again, consider your audience and make sure your ad is being delivered to the right buyers.
Many of the top truck websites have a good selection in their truck listings because they have a reputation for moving iron.

Cons of selling in the classifieds:

While the time to generate and upload a classified advertisement is not difficult, it does take time and a little skill to make sure you position your truck to receive quality views. Many of these sites have incredible viewership numbers. However, if they don’t reach your target audience, the numbers don’t mean much.
As busy as you already are, will you be prepared to handle the phone calls or emails your ad generates? Make sure you have someone available to oversee test drives or to bring the truck to a shop for a third-party inspection.
You can list the truck for sale “as is,” but certain performance attributes live in a grey area that can cause you headaches during and after the sale. Carefully review every ad before posting so it doesn’t misrepresent your sale.

Selling Your Semi Truck on Craigslist or Facebook Marketplace

We separate Craigslist and Facebook Marketplace from other classifieds and ads because they live in a category of their own. These websites changed the classifieds game and made many newspaper classifieds obsolete.

Craigslist and Facebook Marketplace remain totally legitimate platforms to sell a semi-truck, commercial truck, tractor, and much more. For private party sellers, there is minimal cost, and they produce results.

Pros of selling on Craigslist or Facebook Marketplace:

If you have photos ready, it takes about 5 minutes to post your ad. Once you do, simply wait for the inquiries to come in.
If you price your truck correctly and craft a detailed, well-written ad, your phone will ring, and your email will be buzzing (CL now has a chat feature). You can also choose to make your contact information anonymous. Craigslist sets you up with your own privatized email link where buyers can reach you.
Craigslist started out as a community classified, so it is broken up into local regions. For the most part, your calls will come from people in your area. The same holds true for Facebook Marketplace.

Cons of selling on Craigslist:

There are lots of phishing scams on both of these platforms. These scammers are out for your email address, passwords, and/or other personal information.
You’ll have to filter through unqualified leads. Because Craigslist is a free online space, there are many lurkers who aren’t serious about buying. For every legitimate potential buyer, you might get two or three who want to trade your truck for a goat. This is the craziness of Craigslist.
If your truck has a special application and you need to reach a broader market, there is no way to post it to the entire Craigslist community. Users must repost their ad in every Craigslist community they desire, which can take up time and effort. Start with a few cities and then branch out if you don’t have any luck.
Craigslist users are notorious for “no show” appointments. Since the buyer can be anonymous up until the sale, people don’t feel the need to tell you if their plans change. Try to get contact information ahead of time to confirm meetings and schedule several showings at once, whenever possible. This will save you wasted effort and frustration.
While Facebook Marketplace is free, they control who sees and how many people see your listing. They prefer that you “boost” (spend money) your post to attract more buyers.

Selling Your Semi Truck Through a Dealer

Dealers are experts at appraising, refurbishing, and selling. They know exactly what they’re looking for and what will sell quickest on the market. Dealers know what their clientele will ask about and how much they’re willing to pay.

Having a dealer’s industry experience and insight in your corner can be an asset to you. Big time. You won’t have to worry about sifting through anonymous inquiries via an online form, prepping trucks for auction, and waiting around for payment. Instead, you get to do business with someone who already knows all the ins and outs of sales.

Dealers like Charter Trucks write checks and/or wire money very quickly. If you need to sell fast and without a hassle, a reputable dealer like Charter is your best option.

Pros of selling your semi-truck through a dealer:

Get paid fast. With auctions and classifieds, there’s a lot of waiting around involved — not just waiting for buyers to show up, but waiting for payment after a buyer has committed. A good dealer will pay you right away.
A good dealer will visit your location at your convenience to appraise your truck. This makes selling far easier because you won’t have to set multiple appointments for multiple would-be buyers.
There’s little need to have your truck all “gussied up.” Many dealers prefer to do that themselves — and make repairs in-house — after purchasing the truck from you.
A dealer will come retrieve your truck or equipment, so there’s no downtime or expense in having to move it, running or not. This is a major advantage for sellers who are not currently using the truck.
Once the dealer buys your truck, it becomes their risk. Not yours. It can be a swift transaction, and you won’t have to worry about any follow-up hassles.

Cons of selling your semi-truck through a dealer:

Dealers buy what they know they can sell, so most dealers will not make an offer on something that doesn’t fit their sales focus.
Dealers are in the business to make money, so do not expect to receive retail pricing for your truck.

The Best Way to Sell a Semi Truck Depends on Your Goals and Your Sales Capabilities

Thanks to the power of the internet, you don’t necessarily have to commit to a single option. You can post on multiple websites and advertising mediums. You can take your truck to an auction even while you’re running an ad. Or you can call up a dealer at any time and sell through them instead.

Consider what your priorities are for selling. Do you need to get trucks off your books fast? Are you holding out for a certain profit? Do you need help transporting a truck? Decide what is most important to you as a seller and go from there.

The good news is that with so many options for selling your used semi-truck, you can always try a different method if your first effort doesn’t work.

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