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Steel Deals - Semi Truck Prices Fall
Farms of all sizes are finding ways to use a semi-truck. Prices of used semis have been falling since last summer so this is a good time to buy one or add to your fleet.
Dave Mowitz is the executive machinery editor for Successful Farming magazine. He says the trade war has slowed a demand on trucking. This has resulted in a glut of five-and-six-year old trucks hitting dealer and auction lots.
"Dealers are reporting continued declines in used truck prices and growing truck inventories. In fact, some truck dealers and truckers have been unpleasantly surprised that the rate of decline in truck prices has not slowed," says Mowitz. "The silver lining to this used semi-truck market is there are bargains to be had out there for a savvy buyer."
Farmers like to buy semi-trucks from other farmers because they appreciate the fact that farmers take care of their equipment. Don’t shy away from a great deal on a trucking firm’s fleet vehicle, but Mowitz says to do your research before buying.
"Call the owner up and ask how they used the truck. Was it used just over the road as opposed to like, short runs within the city? Ask specific maintenance received and if the truck had any problems," he says. "Always be sure to get copies of the truck’s service records for verification. This is very important information because it tells you how that truck was cared for."
Industry experts predict prices will continue to fall in 2020.