Interesting article on used truck prices

The prices may be stabilizing or going down but the interest rates on loans are still thru roof so nobody can afford them.

 

Been waiting for months to get a used one. No need to finance it it gets cheap enough. Trailers prices are falling too

 

Here it is in black and white-literally!
I talked about this elsewhere when I mentioned owner/operators that were signing on with us and were basically in survival mode!

 

So does this mean the ones that ran out and paid 220k for a new truck 3 years ago when rates were 4.00 + per mile can get their truck payments reduced since rates and value of their truck has also been reduced significantly ?

 

Maybe,if refinancing is an option.
Other than that they may be SOL!!

 

Sitting at local Freightliner right now picking up parts. I looked at inventory. Prices still too high IMO.

 

The irony of it all is that we’ve seen in the threads how some owner/operators wanted to order PACCAR trucks built to their specifications but they couldn’t because PACCAR told them allocations for the years were sold out mostly for fleet sales, while Freightliner and Volvo announced they wouldn’t do such a thing!

 

If you want to get rich, you're in the wrong business. Boom or bust, the only people who always win are the banksters. Even if they bust, they win because they're too big to fail.