Used Truck Auction Rates Change Slightly for June 2023

When we post these recorded findings on average auction rates for Class 8 trucks across the nation, we stay put when it comes to saying whether now is a good time to buy or a bad time to buy. After all, if a truck’s price is dropping, will it drop further? If it is increasing, is now the time to buy before it goes even higher? These are questions we generally leave to the reader, and June 2023 is a perfect example of why: some model years increased while others decreased.

June 2023 Numbers

• Model year 2021: $76,394; a $3,406 (4.3%) decrease May.
• Model year 2020: $61,025; $2,001 (3.4%) larger than May.
• Model year 2019: $43,738; $1,246 (2.9%) higher than May.
• Model year 2018: $30,242; a drop $658 (2.2%) from the month prior.
• Model year 2017: $21,661; $183 (0.8%), a miniscule dip from May.

We usually also have some hypothesis for why truck prices are going the way they are, such as used trucks having their prices increase as they absorb demand for new trucks that are not being produced due to supply chain shortages. Unfortunately, we do not have any pattern to report here. Some trucks went up, some went down, and 2017 went down but by such a small amount that it is slower than typical depreciation. By being an uneventful month, June ironically turned out to be completely unpredictable.

Conclusion

We cannot tell you when is the best time to buy a used truck, or even a new trailer. If we had that crystal ball power, we would have said to stock up on used trucks in 2019 and sell them in 2021 for a significant gain.

What we can tell you is that we at TopMark Funding work with numerous funding sources to get the next truck or trailer for your fleet so you can start earning more money on the road, using the truck as a business asset rather than a financial instrument prone to the whims of speculation. Read on below for more information if you are ready to finally take that leap.

ABOUT TOPMARK FUNDING

TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.

We’re not here for the short-term, we’re on the long-haul with you!

We have financing options for trailers, semi-trucks, commercial trucks, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.

Learn more about Trailer Financing.

Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.