Used truck prices are down. Way down. According to J.D. Power and Associates, last year the retail value of used trucks was 13% lower than in 2015. Trucks sold at auction fared even worse. Predictions are for the supply of used trucks to stay high, which translates into lower prices for this year as well.
While there is not much you can do about the supply of used trucks, the way you spec your vehicles on the front end can have an impact on their value — either positive or negative — at resale time.
Dale Tower, vice president of remarketing for AmeriQuest Used Truck Services, says the market and equipment have become more specialized in recent years. “Fleets are buying for their specific needs and the value that provides on the front side. The assumption is they will still be able to get out of the trucks when they have served their useful life.”
He adds, “Some fleets are being surprised quite a bit as the used truck market has done a 180 in the past one to two years, and is now a solid buyers' market.”
We talked to industry experts to get their input on the role certain specs play in the resale value of a truck.
Downsized enginesWhile some fleets have been spec'ing smaller engines on new trucks to save weight and cost, Chris Visser, senior analyst and product manager, commercial vehicles, NADA Used Truck Guide, a division of J.D. Power, says there is still a preference for big-bore engines in the highway segment.
Claude Ricciardi, director of purchasing at New York-based Transervice Logistics, agrees that smaller engines, those 13L and under, “have a definite negative effect on resale.” Visser explains that “for those OEMs with 15L and 13L engines, we see a roughly $3,000 deduction for the smaller engine in a