Managers now have the world at their fingertips with online marketplaces when it comes to fleet disposal, but still the question remains, “what’s the best way to realize the most value?” Choosing the right disposal method for your needs can increase the value of your fleet. These four best practices will help maximize value, whether you’re contemplating a complete disposal or just selling a few units.
Four Questions to Ask:
How current are your equipment appraisals? Current, accurate estimates of your fleet’s value will assist you in making better, more knowledgeable decisions about which items to sell and when. Up-to-date appraisals can also help you secure extra capital to invest in your business. Using a professional appraisal service to obtain a comprehensive assessment of your fleet will give you an accurate estimate for disposal. The age, mileage, condition, specs, maintenance records, major repairs and current market conditions will provide a precise idea of how much your trucks are worth, whether sold at auction or by some other means of disposal.
How current is your fleet maintenance? Updating your fleet maintenance schedule will help determine which items are ready for disposal. You might find that there are quick and inexpensive repairs you can make to increase resale price. If you conclude that serious and costly repairs are needed, there are still buyers who would be interested in making the investment in your used equipment. Road-weary trucks with many miles can still bring good value provided there is good maintenance log.
Do you need your entire fleet in the long-term? By continually reviewing future projects you can decide whether you’ll need all of the equipment in your current fleet. Sending underutilized trucks to auction will save on maintenance and expensive storage costs. Disposing of unneeded trucks also means you’ll have funds at the ready for other business needs.
How can you get the highest price for your surplus equipment? You have options when it comes to heavy equipment disposal. Increasingly, fleet managers are working with online marketplaces to manage inventory and connect to the maximum number of buyers globally. Selling online also saves on hefty transportation fees to the auction yard which in-turn maximizes the net proceed from the sale of your assets.
When you’re ready to sell, look for a well-established marketplace that can tap into the global buyer base to bring the best value, like TruckPlanet that sells 400 to 500 trucks per week online. You want a broad reach to a sizable buyer base, low fees, excellent customer service, and detailed inspection reports backed by a guarantee of equipment condition – unique to TruckPlanet in the industry.
Go ahead, log on! You’ll find that following these four guidelines will help your fleet disposal strategy, regardless of size!
IronPlanet will be hosting their next major Spring 2016 Cat Auction Services sale with an unreserved public auction in the Denver, Colorado, area on April 13. Hosted by Wagner Equipment, this Rocky Mountain auction is the third of six major onsite events this spring across the U.S., Canada and for the first time, the U.K. Look for over 190 high-quality, late model, low hour pieces of equipment from Caterpillar, John Deere, Mack, Volvo, Load King, Ford and more, including: Articulated Trucks, Crawler Tractors, Excavators, Motor Scrapers, Motor Graders, Flatbed, Service and Conventional Trucks and much more.
For more information, visit or www.truckplanet.com