Selling a semi truck can be much harder than selling a lounge suite or a puppy, no matter the condition, make, model, or age. It’s a big-ticket item, and people need time to gather the funds to make such a purchase, even if you’re offering plenty of bang for their buck.
Knowing that you might be in for the long haul when you list a semi truck for sale, you might be wondering if some selling options are better and faster than others. Consider the following information, and you might have cash in your back pocket before you know it.
Why Do People Sell Their Semi Truck?
Before you learn where to sell your semi truck, there’s value in understanding why you and others would want to sell a semi truck in the first place. There are many reasons why semi trucks are sold throughout the United States each day, such as these below.
An old fleet can be a costly fleet, particularly regarding time spent in workshops, maintenance, and parts replacements. Keeping a new fleet can be the most financially sound option when you’re a time-poor business owner with dozens or even hundreds of trucks on the road.
Therefore, many business owners upgrade their semi trucks when they reach a certain age or tick up a particular number of miles.
Freight requirements are changing all the time, and some industries are also experiencing significant driver shortages. Business owners might decide to sell their trucks rather than deal with them sitting still, not earning any money. They can then purchase more in the future if they require them.
Getting Out of the Industry
Truck driving can be a lucrative career, which is why many owner-operators spend their entire working lives on the open road. However, with their retirement years approaching, they may decide to wind down their business and gear up for the good life at home. This can be a common reason why people sell their semi trucks.
The Type of Businesses That Buy Semi Trucks
You may know why you purchased your semi truck, but why do other businesses buy trucks? Everyone’s reasons are different, and you can learn more about the people who buy semi trucks and their reasons for doing so below.
Some businesses, such as TruckVin, purchase trucks to on-sell to other drivers needing high-quality equipment to do their jobs. Often, they are buying them from across the country, sometimes performing repairs and maintenance, then selling them to other buyers.
In the case of TruckVin, we purchase trucks from owner-operators, lease companies, fleets, and many other groups for competitive prices.
Trucking companies are always on the hunt for high-quality, affordable semi trucks to add to their fleet. They might sell older stock, replace it with newer stock, and keep doing this to keep maintenance and repair costs to a minimum.
Some people are more than satisfied driving for trucking companies that supply big rigs, but others like to work for themselves. Sole traders frequently purchase individual semi trucks and make a living shifting freight country-wide.
Can I Sell My Semi Truck Without a DOT Inspection?
Annual DOT inspections are required for all commercial motor vehicles weighing over 10,000 pounds. They involve a range of checks that ensure that large vehicles like semi trucks are safe to be on the road.
If you haven’t carried out your latest annual DOT inspection, you might be wondering if you can sell your semi truck without one. The answer is yes, but the ease of doing so might depend on who you sell to.
For example, professional truck buyers like TruckVin will purchase trucks without DOT inspections and will obtain them themselves. However, selling on the public market without a DOT might lengthen the sales process.
Where Do I Sell My Semi Truck? – The Most Popular Options
When you’re ready to upgrade, downsize your fleet, or leave the trucking industry altogether, you might be curious about where you can sell your semi truck. Here are some of the most popular options.
Professional Truck Purchasers
Companies like TruckVin are dedicated to providing a fast, easy, and cost-effective sales process for truck owners looking to part with their assets. They can collect semi trucks and equipment from anywhere in the country and provide same-day payment for convenience.
Dedicated truck auctions are often considered a worthwhile option by many truck owners, buyers, and sellers. However, it’s important to note that there can be significant fees associated with this sales option.
A private sale might be worth your consideration if you’re not in a hurry to sell. However, it can sometimes take a considerable amount of time to find the right buyer, and this option is rarely suitable for truck owners looking to shift more than one truck.
If you’re ready to sell your semi truck, you’re in the right place. TruckVin will buy semi trucks from individuals all the way up to large enterprise fleets. All you have to do is get in touch with your truck’s information, wait for an offer, and arrange for collection and payment.