Prepare your truck for a second life07/07/17
Resale value is an important part of a truck’s total cost of ownership, so it should be taken into consideration from the very start. The difference between a truck that sells quickly, and one that does not, often comes down to small details.
Today used truck buyers can access a wide variety of choices online, making for a highly competitive marketplace. To get maximum resale value, you need to ensure your truck stands out and can meet buyers’ needs and expectations.
First and foremost, you need to reassure potential buyers that your truck is well maintained and has been looked after. This requires good care, smart investments and thinking ahead. Often customers only have a short window of opportunity to inspect the vehicle, and any visible signs of wear-and-tear can end a potential sale immediately. Even if the flaw is only superficial, it could create a perception of neglect and suspicion that the vehicle is in poor condition. It is therefore vital to look after your vehicle throughout its use.
“Second owners are looking for reliability – often more so than first owners because they generally do not have the security of a warranty,” says Goran Travancic, Director Used Trucks, Volvo Europe. “You need to be able to provide a proven service history for the truck, that shows that it has been serviced regularly in authorized workshops and with genuine parts.”
When ordering a new truck, it is often tempting to specify exactly to your needs. But the narrower the specifications, the narrower the pool of potential second-hand owners.
“If you specify your truck specifically for regional distribution then it will be hard to sell it to long-haul customers later,” adds Goran Travancic. “The most common mistake I see is customers choosing lower horsepower to save money. But then they have trouble trying to sell it a few years later, because most customers are looking for higher horsepower.”
Consider already when buying your truck where it’s likely to be sold, and the needs and expectations of customers in that market. Often it is worth investing in extra features or capacity, as you will recoup the investment through higher resale value. “The value of your truck is only as high as a customer is willing to pay,” says Goran Travancic.
“Quite simply, if you cannot find a customer, then the value is zero.”
A well-documented service history, from authorised service providers, will reassure any potential buyer that the vehicle is in top condition.
Standard colours are best since unique and specialist colours can narrow down your pool of potential buyers. White is particularly good since it is easier for the next owner to customise the vehicle with their own company logos and signage.
Using Genuine Volvo Parts is further proof that the vehicle has been well maintained and that customers can expect reliability.
Old or worn out tyres will instantly cause the value of your truck to plummet.
A big cab with extra space and two beds might be worth the extra expense, as it will be easier to sell.
Maintain a clean and well-maintained cab. Bad odours or damaged upholstery will immediately be noticed and deter buyers.
With market trends continuously moving towards increased horsepower, investing in a more powerful engine will payback in the long-term through increased resale value.
A lack of spoilers can be a visual disqualifier and lead to a perception of increased fuel consumption. Since they are expensive to install later, it is often worth the initial investment.