Truck Assets: Remarketing To Maximize Recovery

Truck Assets: Remarketing To Maximize Recovery

by Lillian Connors

Only in America, there are 15.5 million trucks available, and only around 3.5 million drivers are currently employed an eligible to operate trucks. 1 out of 9 drivers works independently, which leave millions of trucks unattended. This basically means that there is a whole lot of trucks just sitting there in company yards, wasting money every year in the name of the recurrent maintenance, and of course taxes and fees. And so in order to solve this massive problem, many companies decide to get rid of the “excess inventory” in order to gain very important revenue used to improve other trucks and upgrade them technologically and with better sustain systems. If you are aiming towards cutting down loses or simply making new yard space for new vehicles, here are the 3 steps ways which will help you maximize recovery of your assets.

Use the Secondary Market

Secondary market is the place where major businesses turn to when they need to get rid of their overstock, unused or nonessential assets. It is a complete sector which is always open for business, regardless of the business industry you are in. For those of you in the trucking business, using and understanding the secondary market is very important. Most trucking industries are considered to be a high-end consignment, therefore utilizing the secondary market yields great revenue each year. Annual turnover for trucking organizations is above 20 percent of their fleet, each year. For big companies, this means close to 1500 or even 2000 trucks, a huge amount of unused assets. In addition to that, if the vehicles are properly maintained and are in perfect working condition, the recoup from the secondary market buyers will be a huge investment for your business.

Truck Assets: Remarketing To Maximize Recovery

Remarketing Best Practices

Once you start using the secondary market and you are already starting to make a profit out of it, you will need some serious skills in order to settle the business and capitalize on it. Having said that, understand that you will need the help from a professional.  Consider the services of a good asset management company, or a business partner who can accurately appraise all your assets since you will not be able to appraise them all accurately and by yourself. And your job is to keep clients happy and expectations reasonable. Once that is done, the recovery firm has to determine which sales channels best fit your potential buyers. This means editing and creating the best marketing strategy in order to target the right buyers. This is a very difficult yet important step to your asset recovery. Consider adding elaborate pictures and details of every asset when selling for the buyers will have all the required info and an exact idea of what they are dealing with.

The Auction Process

Once the plan to dispose the assets is created, the time has come to put the trucks on the market. It is advised to have a partnership which can help you with truck appraising which is based on the prevailing market conditions, providing necessary lots to keep your truck safe and steady while giving you more room, provisions of marketing and sale support, truck inspection and necessary maintenance according to the law (to boost the value of your trucks), and an expert handling of every truck in the process. Once you have proper partnerships, this job will become a lot easier and you will have a proper insight into the whole situation without having to worry if everything is under control. You cannot do all of this alone.

Truck Assets: Remarketing To Maximize Recovery

Once you go through these phases, you will definitely recoup from selling the unnecessary assets. Remarketing is a very important business strategy, and doing it properly will increase your business investments and allow you to improve the trucks that are being used.

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