As we covered in today’s workshop at the ATD/NADA Convention (“Understand and Manage Used Trucks”), your used inventory can and should be considered a revenue stream, not a headache. With more used trucks sold than new, you’re ignoring a sizable portion of your market if you put used trucks on the back burner. As we mentioned, the average margin on a used truck is higher than on a new truck. This means each used truck in your inventory represents a potentially higher return on investment.

Currently, with used trucks under 600,000 miles bringing more money than any time in modern history, we are in a seller’s market for this cohort. Any 2009 or newer Class 8 sleeper or daycab should be looked at as a revenue generator, as trucks of this age will generally feature mileage under 600,000. Knowing that a truck will bring strong money on the retail side gives you flexibility when negotiating the trade.

Older trucks and/or those with over 600,000 miles are a different market, with lower demand. But don’t be afraid of these, either. With the tools available today, you can easily market this iron and find a buyer.

If you missed today’s workshop, please consider attending tomorrow (at 10:30 in room 224).