The market for used trucks, favored by owner-operators in three out of five purchases, is better than it has been in years. Thanks to a higher volume of newer used trucks becoming available, prices have dropped. Also, interest rates are in owner-operators’ favor, particularly those with good credit.
“One thing we look at is build rates,” says Mike Meehan of the Fleet Advantage leasing service, which is geared toward larger fleets. Because of the recession, production was low for 2008- ’10 model trucks, most with 2007-’09 emissions-spec engines. Many owner-operators also were reluctant to buy at that time due to emissions-system performance.
Because supply was low, pricing for those trucks has “been very lofty for the last 18 months or so,” Meehan says. As the economy recovered, production picked up. Now many of the 2011-’13 model-year tractors, with post-2010 engine technology, are hitting the used market. They’re more affordable, and trucks with similar age on them are expected to get more so year over year as times goes by.
Read the full article here: http://www.overdriveonline.com/buyers-market-the-truck-purchasing-landscape-for-owner-operators/