Now is a Great Time to Buy Used Class 8 Sleepers

This is a great time to buy used Class 8 sleepers, as prices are historically low. The market is flooded with sleeper trucks due to decreased reimbursement rates per mile and rising fuel prices, which have forced many poorly managed companies out of business. During the Covid-19 pandemic, there was a significant shortage of trucks, causing many buyers to overpay by as much as 20-35%. This upheaval has led many lenders to consider the trucking industry high risk, with many declining to finance trucking ventures.

Unveiling Market Dynamics

In the rhythmic heartbeat of 2024, the landscape of used Class 8 trucks unfolds a tale of transformation and fortitude. June emerged as a pivotal chapter, revealing a stirring 8.9% surge in sales compared to the preceding year, a testament to the vitality pulsing through the market. Amidst this surge, the average retail sale price gracefully ebbed by 20.3% year-over-year, settling at $60,115 from $75,407. Sequentially, a gentle 2.9% decline from the previous month's average of $61,898 marked a shift in tides. Mileage, a silent witness to journeys taken, showed a 4.1% decrease year-over-year, guiding from 350,000 to 416,000 miles. A tender 0.7% dip from the prior month's 419,000 miles continues to trace the paths traveled.

"In our recent reflections, pricing rhythms have gently eased from Q4 2023 to Q1 2024," shared Steve Tam, Vice President of ACT Research, illuminating the market's unfolding symphony. "Steadfast stability is anticipated throughout much of 2024, poised for a harmonious crescendo towards year-over-year growth by late Q3 or early Q4. Sequential strides beckon towards an imminent crescendo by year-end."

Commercial Truck Trader, a steadfast guardian of market pulses through digital vistas, witnessed a 23.6% rise in vehicle detail page views for used sleepers in June. Yet, a stillness befell used day cabs as page views remained anchored in time, echoing the nuanced cadence of buyer interests. Amidst these gentle fluctuations, a treasure trove of used units awaits its kindest fate, absorption into the tapestry of sustained price stability.

Navigating the Symphony with Capital MBS

As the pages of 2024 unfurl, the ballad of used truck sales reveals its heart in ebbs and flows. Amidst shifting winds and whispered promises, opportunities dance on the horizon for the keen-hearted investor. For those charting the course of fleet expansion, freight transportation, or the embrace of used treasures, Capital MBS stands as a guiding star. Despite the high-risk perception held by many banks that trucking is a high-risk industry to lend to, Capital MBS has the solution for you.

We are still able to provide financing and will analyze your overall situation and credit profile and determine the best strategy for you to not just survive but prosper in this tough market. Our expertise extends to heavy-duty trucks, truck leasing, and truck ownership costs, ensuring your investment in commercial vehicles is sound and strategic.

Additionally, Capital MBS can help you locate trucks and trailers at wholesale prices as we work with many wholesale dealers. 

Fill out our Application today and take advantage of this opportunity to buy equipment at historically low prices in the used truck market and secure a prosperous future with our tailored financial solutions.

For more details, call us at 215-699-5806 or visit www.capitalmbs.com. 

Ensure your journey is as seamless as it is steadfast with Capital MBS, navigating the complexities of the trucking and transportation industry, including economic impacts, operational costs, and asset management.