It has been a while since we have brought you an update regarding the average auction prices on used Class 8 trucks, so we thought we would give you a lightning round of what has happened in the first four months of the year, thanks to the fine folks at J.D. Valuation Services.
January 2023 Numbers
- Model year 2020: $81,750 which is $9,618 (10.5%) lower than December.
- 2019: $61,818; a $2,727 (4.2%) decrease from December.
- 2018: $41,014: $4,099 (9.1%) lower than December.
- 2017: $37,250; breaking the trend by being $2,491 (7.2%) higher than December.
February 2023 Numbers
- Model year 2021: $122,000. This is the first month this model year was recorded.
- 2020: $80,100; $1,650 (2.0%) lower than January.
- 2019: $55,018; a $6,800 (11.0%) drop from January.
- 2018: $41,139; a slight uptick of $25 (0.3%) compared to January.
- 2017: $29,215; a large decrease of $8,035 (21.6%) from the month prior.
March 2023 Numbers
- Model year 2021: $87,000; a sharp decline of $35,200 (28.8%) lower than February.
- 2020: $64,317; $15,783 (19.7%) lower than February.
- 2019: $50,411; a $4,607 (8.4%) decrease from February.
- 2018: $36,368; $4,771 (11.6%) lower than the month before.
- 2017: $25,456; $3,759 (12.9%) lower. All model years in March saw decreases.
April 2023 Numbers
- Model year 2021: $102,000; $15,000 (17.2%) higher than March.
- 2020: $59,729; a $4,588 (7.1%) decrease.
- 2019: $46,981; this is $3,430 (6.8%) lower than it was in March.
- 2018: $32,371; $3,997 (11.0%) lower than March.
- 2017: $24,924; a slight decrease of $532 (2.1%) compared to March.
Used truck auction rates continue to deflate in prices compared to where they were as a result of supply chain shortages, which was the first time in history that a used truck cost more money than its original new retail price. Since then, prices have been dwindling, with the exception of the most recent model year to collect data (2021), which has fluctuated.
It is hard to say when the market will bottom out, but if you think that time is today, Topmark Funding can help by leveraging our funding sources to get you the best rate for your particular scenario. Read on below for more information on what we can do for you.
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