Truck Prices

[louixo]

As you drive around the country, what are you seeing in the way of used truck prices. I check the EO classifieds regularly and see the same trucks for sale for weeks, but the prices don`t seem to be dropping much. Same on TRUCK PAPER, and some of the truck vendors that advertise on EO. Prices seem to be holding, although I have read a couple of reports that financing is tightening. New truck prices seem to continue to go up no matter what.

 

[FIS53]

I have been into several dealers especially during the summer and one thing I noticed was the prices as you noticed seemed to be staying except when you looked at the truck and immediately the salesman would offer 5-10% lower without me even talking price. So I got the feeling that negotiations were a definite possibility, more so than earlier in the year. Even the new trucks a couple of dealers mentioned upfront that the list prices all had discounts so pick a chassis and they'd tell me the discount.
Rob

 

[piper1]

Problem now is getting decent financing (or any financing).

 

[Streakn1]

This thread brings a thought to mind:
What if you were unexpectedly faced with having to replace your truck? Where would you be once the insurance paid off the loan? What would be left for a down payment on the next truck? Would you be able to afford to replace it with an identical truck ( same equip/creature comforts) or would you be forced to downgrade?

As an example,our 2007 Kenworth if it had to be replaced today would cost almost 30K more than the cost of it when it was built less than two years ago. I'm sure that with the depreciated value at the time truck truck was distroyed, the insurance is not going to cover all that is needed to pay off the loan plus the down payment for the new truck. So would we down size? Not if we could help it!

Many expediters like us have gone to the "super sleepers" with everything including the kitchen sink. Once you have enjoyed these luxuries a while, would you be able to go backwards to less space and emenities and continue to enjoy your life on the road? Planning ahead could make all of the difference in what your replacement truck is.

 

[BillChaffey]

I would think, if your Insurance is with more then one Company, as in one company required by your Carrier for Liability and the other that carries Deductible on the Truck. Your Agent should be able (if your willing) to add coverage for "Full Replacement Value" of the vehicle.

 

[Tennesseahawk]

Problem now is getting decent financing (or any financing).

I called the company I'm financing my truck with, and they aren't financing any new trucks. However, they will finance a truck they've repossessed. You might try there. Dave would be the one to comment on this; but I'm guessing you could name any reasonable price, and drive out of their lot.

 

[mrgoodtude]

I called the company I'm financing my truck with, and they aren't financing any new trucks. However, they will finance a truck they've repossessed. You might try there. Dave would be the one to comment on this; but I'm guessing you could name any reasonable price, and drive out of their lot.

Re marketing (sale of repossessed inventory) is probably going to be big biz for awhile..
Mitigate portfolio losses= save your job

 

[FIS53]

Insuring for full replacement value would cost a lot around here. While a good idea it does mean higher costs in a down market. If I had to replace the bigger buggie I would definitely go with more inside space. Yes it would cost more but I tink it would possibly workout better in the long run. I know by next summer.
Rob