A Look at the Best Ways to Sell Commercial Trucks & Equipment
January 26th, 2023
For most vocational fleet operators, commercial trucks and equipment are important tools your business needs to generate revenue. They also represent a significant capital investment for your organization. To help lower your total cost of ownership (TCO), you need to maximize resale returns once these units reach the end of their useful lifecycle. However, liquidating commercial trucks and equipment is far more complex than simply selling them to your local dealership.
With that in mind, Holman’s Chris Clarke recently spoke with Work Truck about the importance of having a multi-faceted remarketing solution in place for selling commercial trucks and equipment to generate capital that can be reinvested in your business or fleet operations. In the article, Chris highlights why it is important to embrace a holistic mindset and remember that decisions made in each phase of the unit’s lifecycle – buy, drive, service, and sell – impact its resale value. He notes that when possible, you should consider potential resale value before you even order the vehicle.
“While it is important to spec your vehicles appropriately for their intended function, when possible, think about the options and upfit in terms of what will appeal to the largest pool of potential buyers when it is time to sell.”
As an example, Chris shares that while your light-duty pickup truck may not need four-wheel drive for its role in your fleet, opting for the 4×4 model will likely increase its eventual resale value. Chris also discusses strategies for selling vehicles with complex upfitting.
“Fleet operators often dispose of the unit with the upfitting intact, which certainly makes the unit more desirable to the right buyer but if the equipment is extremely niche and/or difficult to remove, it may present a challenge during the resale process. If the upfit and equipment is easily interchangeable, it may make economic and logistical sense to remove the components prior to selling the vehicle.”
Chris also highlights why organizations should embrace a hybrid strategy for liquidating vehicles, particularly highly specialized units. By leveraging both traditional, in-person auctions as well as online platforms you can reach the right buyer for each unit and maximize proceeds. He also shares why it can be especially beneficial to have a knowledgeable remarketing partner.
“A savvy remarketing partner can help you assess your assets and the various venues available to ensure your vehicles and equipment are in front of the right audience to maximize the pool of potential buyers. Your remarketing partner can also help you tailor your disposal strategy to meet the specific needs of your organization as you decide whether it is most important to maximize resale returns or liquidate units as quickly as possible – or most likely, identify a sweet spot in the middle.”
To read the entire article, be sure to visit WorkTruckOnline.com or click here to learn more about our strategic fleet remarketing solution.