The used truck market is growing as businesses look for cost-effective alternatives to buying new vehicles. Buying a used truck therefore requires careful consideration, looking at the age, mileage, condition and operational reliability of each vehicle.
To discuss further, Walker Movements has provided a practical guide to help buyers make informed decisions about the trucks they are buying, while avoiding hidden problems and getting the best value for money.
Understanding the used truck market
The used truck market has seen increased activity as businesses balance rising truck costs with the need to maintain fleet capacity. This has been influenced by larger fleet owners selling off older vehicles when replacing them with new models, while smaller operators may have also released trucks when they are downsizing.
High-demand trucks often retain their value for longer and sell quickly. Vehicles with uncommon specifications or higher mileage tend to be much cheaper, but buyers need to weigh up the potential maintenance costs.
Market prices are also affected by fuel type, Euro emission standards and seasonal regulatory changes. This includes businesses refreshing their fleets at the end of the financial year and peak demand periods occurring when operators need vehicles for busy seasons like Christmas.
Buyers therefore need to make sure they are checking multiple sources before they buy, including a thorough examination of dealer websites, fleet auctions, online marketplaces and dealer networks in order to compare prices. It is also advisable to track recent sale prices for similar trucks in order to understand what a fair price looks like.
Key checks before you buy
It is important to look at the history of the vehicle by reviewing its MOT and service history. You should also check for accident damage or major repairs and confirm the ownership and mileage consistency to make sure that everything is above board.
Mileage and age are very important as this can impact wear, maintenance needs and the truck’s resale value. You also need to consider the typical lifespan of key components like the engine, transmission and brakes.
The condition of the mechanical components and body of the truck will also need to be taken into consideration. This means looking at the engine, gearbox, suspension, brakes, tyres and electrics, as well as inspecting the bodywork for rust, corrosion or structural damage.
There are legal and compliance checks that you need to undertake to make sure that the vehicle is roadworthy and adheres to all necessary safety regulations. You may also need to check the tachograph and emission standards where relevant.
Inspecting and test driving a used truck
A thorough inspection of any vehicle is essential, ideally with a qualified mechanic on hand. You should also make sure you are test driving the vehicle in order to look at the engine performance, brakes, steering response, gear changes and any signs of noise or vibration.
Make sure that you test the vehicle on varied terrain and if possible, ensure that it is fully loaded. If you are not confident with any aspect of inspecting the vehicle then it can be worthwhile to pay for an independent pre-purchase inspection with an HGV specialist.
Avoiding fraud and hidden costs
Unfortunately, not every vehicle sale is genuine and there will be some unscrupulous sellers out there. Some of the most common scams in the used truck market include tampering with the mileage, stolen vehicles and fake service records. You therefore need to verify sellers and sources by going through reputable dealers, fleet auctions and certified resellers.
There can also be a number of hidden costs associated with buying a used truck, so make sure that you look at tax, insurance, repairs after purchase and any potential compliance upgrades that might need to be made. It can be worthwhile to ask the seller about any warranties or service packages that might be on offer in order to mitigate some of the risk.
Financing and budget considerations
A used truck can be very expensive and not every business will have the necessary cash in the bank to make the purchase. It is therefore worth considering lease finance or hire purchase options to help increase fleet capacity.
Remember, the total cost of ownership is not just the sale price, but also the maintenance, fuel, tyres and deprecation of the vehicle. You need to make sure you consider the residual values and future resale potential of any HGV when evaluating your investment.
Key differences between fleet and independent purchases
If you are buying from fleets or a commercial dealer, you will usually find that the vehicles are well maintained with a full service history and possibly even a warranty. Individual sellers or small business owners can potentially offer you a better deal, but there is higher risk associated with this and often less documentation.
There are pros and cons to each approach so you need to think carefully about how it might affect reliability and make sure you carry out your due diligence.
Final tips for making a smart purchase
Purchasing a used HGV is not an impulse buy, so take your time over it. Make sure that you compare multiple vehicles to help you understand the market and keep a checklist to ensure all aspects of the condition, legality and finance are properly reviewed. You should also consider any long-term operational needs such as the payload, fuel economy, and maintenance schedules.
You need to ensure that you always verify the vehicle service history and previous ownership to avoid any hidden maintenance issues. It is also important to factor in any upcoming regulatory changes or emissions requirements that might affect the truck’s usability or resale value.
Another thing to think about is whether you will be using the truck in Low Emission Zones or Ultra Low Emission Zones to ensure that it is compliant with the necessary regulations.
Careful research, inspection and due diligence are essential for buying a used truck that will deliver the value and reliability that you need. Preparation, understanding hidden risks, and using professional guidance can save money, avoid downtime, and ensure fleet efficiency.