Future Proof Your Business With Used Trucks
The case for including used trucks in your fleet strategy
Operation type, truck configurations, organizational preferences, routes, seasonality and financial considerations can influence fleet operators’ decisions to lease or buy heavy-duty trucks. There are pros and cons to both approaches. We can help you decide what makes the most sense for your business and how to future proof your supply chain with the right equipment mix.
Benefits of Buying to Future Proof Your Fleet
Ownership can provide advantages, including greater control over operations and financial benefits such as building equity and lower monthly costs when equipment is purchased outright, especially with used trucks. Commercial vehicles, including Class 8 tractors, qualify for depreciation and interest deductions.
Owning equipment allows fleets to fully control utilization without mileage restrictions. Fleets can run their trucks as long as possible if they continue to perform, schedule maintenance on their own timelines, and determine the eventual resale strategy. They may also be able to build equity in the asset, which they can use for future financing or as a source of funds. For many businesses, this level of control and cost management is a smart way to future proof fleet operations.
Lifecycle Planning
The key to reaping the benefits of owned equipment lies in smart lifecycle planning, and a best practice is to create a balanced fleet that includes older units to minimize capital outlay, newer models to incorporate evolving technologies and mid-life assets to stabilize maintenance costs. Light- and medium-duty trucks typically perform optimally for three to five years beyond the 100,000-mile mark, while heavy-duty Class 8 models can remain viable up to 750,000 miles with proper care.
The used truck market has become even more attractive amid high prices for new equipment and long delivery timelines. Purchasing used trucks can allow fleets to acquire a vehicle for a price that is significantly lower than that of a new model while avoiding the substantial initial depreciation of the vehicle. Used equipment may also be more readily available than new equipment. A smart lifecycle strategy using used equipment can help future proof your supply chain by balancing performance, cost and availability.
The Ideal Equipment Mix
We can help fleets determine their optimal fleet size and most cost-effective asset mix by looking at historical, current, and predicted routes and volumes. As part of the process, we work with fleets to ensure they’re maximizing their owned assets and help them identify areas where it makes sense to turn to a leased or rental solution. A thoughtful combination of owned, leased and rented vehicles is often the best approach to future proofing against disruption and demand shifts.
Due diligence is important for any equipment purchase, but especially with used equipment. Buyers should pay attention to a vehicle’s maintenance records and consider equipment protection plans.
Buy With Penske To Future Proof Your Business
We offer access to a wide inventory, detailed condition reports, transparent pricing, financing options, equipment protection plans and flexible bidding through an online auction platform. Most units have had a single owner, Penske itself, which means they are backed by a strong maintenance history. Most come with a five-year maintenance report, and we also provide dealer-specific benefits, including wholesale pricing.