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Where Is The Best Place To Sell My Semi Truck?

How To Sell Your Semi Truck

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 sell your truck could be the difference between a successful transaction or a difficult one.  And to better your odds in 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, then 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 your are selling a Volvo, Peterbilt, Freightliner, Kenworth, day cab, or sleeper the fastest way to get cash is to sell your truck to a reputable new or used dealership. Not only will your get paid faster than selling to a private seller or auction, you will find the experience relatively stress free. Further more 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 too 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 refurbish 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 times have a built in market, so they are confident that the truck will sell.

The Trader-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 your heavy equipment in 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 too 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 Market Place 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 TipDo 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 or truck buyers has an entirely different set of concerns. However for both of theses sellers, trading in, selling out right to used truck dealers and auctions can be good options.

Charter Trucks for example has built a reputation on serving their clients. They take pride in making the fleet or asset managers job easier.  Companies like Charter Trucks writes checks, picks up equipment at no cost and handles complicated sales. This makes a difference for busy fleet managers.

If you want the potential for a big pay day, many turn to auctions like Ritchie Bros. They can offer the security of a guaranteed sale as well as reduced liability. And the added benefit of a huge upside if a bidding war breaks out. But if you are averse to risk and fees, an auction may not suit you. Not to mention the time it takes to get paid and the cost of transport.

If time is not an issue, some dealers consign product. This gives them 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.

Pro Tip: Auction companies terms and fees vary. To maximize your sale, do your homework.

The Owner Operator Seller – Who Wants All The Dough

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.

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 speciality truck like a crane, there are sites like the Crane Network that attract serious buyers.

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 truck on line, it’s important to have a story to tell.

Pro Tip:  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 Move 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.

Good luck on selling your big rig and happy trails.

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