Used vehicle prices are up…. way up from last year!
According to Automotive Fleet, vehicles from commercial, government, and rental fleets are worth 8.1% more than they were last year at this time. That’s a decent chunk of change!
Part of this change in value is due to the fact that new vehicles are also more expensive. So, you’re paying more for your new vehicles but if the old ones are in good condition, the increased auction (or trade-in) value will help offset that.
It pays to keep your vehicles in good condition, both mechanically and aesthetically. A truck that runs and drives well but looks terrible is going to be automatically discounted or dismissed by the buyer based on their first impression. No matter how much you preach, everyone does judge a book by its cover.
Smart fleet managers and vehicle owners are realizing that by investing in the maintenance and upkeep of their vehicles, they’re getting a good return on that investment when it comes time to get rid of the vehicles.
There are also other less tangible gains such as driver morale that come along with a well-kept fleet. These gains don’t show up on the P&L so they’re often ignored but they’re as important as the value of the vehicle.
By implementing TigerTough seat covers as a part of their preventative maintenance plan, Black Hawk Energy Services boosted the value of their used trucks by $3000. (Check out the full story here.)
If you’re interested in getting more out of your used fleet trucks & vans than the 8.1% everyone else is getting, we can help.