Selling your own truck, at least do it properly

When times are tough operators and rental companies always pull up the ‘welcome’ rug and close the door when it comes to trading their used trucks.

The common theme cited is that its cheaper to do than pay a used truck broker or dealer and that they always get better residuals. There is some truth in that because you do miss out the middle man, and removing an extra layer, wedge, or slice, which ever cake related metaphor you like, means more sponge, jam and cream for the vendor. 

Off the top of my head, which is as smooth as a baby’s bum and has been for years, those companies that do sell their own vehicles properly, and here I am thinking of Alltruck, Dawsonrentals, Gregory Distribution, and MV Commercial, to name but a few, get market values and then some.

Those who don’t, and here I am thinking of *******, ***** *********** and *** (names redacted for legal reasons – Ed), barely raise a smile when they cash the cheque.

The simple reason is knowledge. All too often the job of remarketing is dolled out to the marketing department or the transport manager or the sales team. They lack the contacts needed to get the truck noticed, don’t have the depth to refuse a woefully low offer, and don’t have the bargaining tools, like finance, to ensure the truck makes a pound or two when its sold.

One example; last year a Midlands haulier and storage specialists tried to offload four Daf CF85 6x2 tractors with sleeper cabs. Nice trucks, good mileage, known service history, plenty of them about.

The job was given to the transport manager, he struck lucky and sold the first quickly to an owner-driver, who pulled a company trailer for traction. He got the market value and because there was no bonus or broker fee, all the money went back into the company coffers.

Then he struggled. As the day job took precedence two months past. One afternoon the MD strolled across the yard spotting three grubby units parked up in the corner. He tore a strip off the transport manager, wanting to know why theses trucks were still here. The transport manager brooded for a week before handing his notice in, claiming that selling trucks was not part of his job description.

Aforementioned MD then called a dealer…ahem…and struck a deal to get the trucks out of the yard. All three trucks appeared in the Commercial Motor classifieds the following week, and all sold within three weeks to new, happy customers. Customers the aforementioned transport manager had no hope of reaching let alone haggling with.

Now, all that could have been avoided if proper provision was taken. If you are going to vend your own motors make sure the person who does it has the right credentials, and make sure you trade enough trucks to keep that person busy, and I mean full time busy, not just two days a week busy. And reward them properly for their efforts. Get a decent website, market it properly and touch base with a variety of used truck traders, because they will come to you if you have the right truck they are looking for. And they will pay too. In short, you can sell them the truck and make the money, rather than get them to sell the truck and take a slice.

The used truck market always has room for the in-house sellers, the private ads, and the chancers, just make sure that if you do go down this route that you do it properly. Used truck brokers aren’t cheap, and that’s because they know the industry. It’s what you pay them for.