Best Ways to Sell Your Truck or Trailer

Do you have a commercial semi truck or trailer you need to sell as soon as possible? Have you researched locations for semi truck sales near me, but could not find a reliable seller? No need to worry, as Handshake Fleet is ready to help you sell your vehicles. 

We understand that commercial truck sales by owners themselves is a complex process. As the sole seller, you must navigate all stages of the selling process alone – including the prep, selling, and buying stages. However, save yourself the stress of haggling prices and updating paperwork by working with a reliable commercial truck trader like Handshake Fleet. At Handshake Fleet, we simplify the logistics of the selling process for quick and easy sales. To help you better understand how to sell your truck or trailer, this article will review tips for each stage of the selling process and how to navigate these stages on your own or with a commercial truck trader company. 

To-Do Before Selling

Follow Vehicle Selling and Purchasing Laws

We often recommend selling your vehicle through a third-party, licensed dealer. Why do we recommend this? You may be subject to penalties if you attempt to sell your vehicle, but do not follow all conditional selling laws exactly. Therefore, before selling your vehicle, follow these steps: 

• Get Your Vehicle’s Title – Did you know that only licensed dealers can sell trucks not in their name? If it is a commercial truck sale by owner or owners, then the selling process can also become tricky. All vehicle owners must agree on the deal and sign the same documents. To avoid any conflicts, check with your local DMV to replace or check the status of your vehicle’s title. 

• Clear Any Loans – Under the law, you cannot sell a vehicle if there is any outstanding loan or any outstanding taxes on the vehicle. The vehicle’s title will also indicate who the holder of the loan is. How can you find a solution to this issue? As the seller – pay the loan. As the buyer – discuss with the loan holder how they can release the title to you before or after paying the loan.

How to Find a Buyer Audience

If your listing receives a lot of traffic when others search for semi truck sales near me, then you might receive many immediate offers for your vehicle. However, many of these inquiries will likely fall through. 

On that note, we recommend staying selective when choosing your potential buyer audience. Know the worth of your truck so that you do not compromise your rates. Additionally, be as transparent as you can when sharing the state of your vehicle – including the interiors, undercarriage, and engine compartments. This transparency will make the filtering process more manageable, so you and the buyer can have an honest conversation about the transaction. 

To-Do When Selling

When selling your truck or tailor, ensure all pertinent documents are ready. The odometer statement, bill of sale, and plate transfer are all necessary for a hassle-free selling experience. 

Odometer Statement

Every vehicle owner must present odometer statements from miles traveled to their annual maintenance check (if your state mandates such reviews). In fact, the federal government requires that if your odometer reads over 99,999 miles, you must complete an “in excess of mechanical limit document” before resetting it. 

Bill of Sale

The best way to ensure you safely sell your truck or trailer involves closing the sale with an official bill of sale record. While this document is not required, it does serve as a contract of purchase – listing the sale price, date of sale, and odometer readings. 

As a legally binding contract, the bill of sale protects both you and the buyer. After completing this contract, you can then transfer the vehicle’s title from owner to buyer.

Plate Transfer

You can transfer your registration to the buyer with a valid license plate.

Selling to a Commercial Truck Trader

Dealers do not just buy from other dealers. One of the significant ways dealers replenish their stock involves purchasing and refurbishing used semi trucks and trailers. Many dealerships will actively look for a commercial truck sale by owners. Once they have located the sellers, dealerships will do one of two things: either purchase the vehicle directly from the owner or offer to direct the buying and selling experience as a third party. Regardless of the owner’s chosen option, both the owner and the dealership benefit from a sale. 

However, when attempting to sell your vehicle to a dealer, we recommend you follow these guidelines: 

• Find a Local Dealership – Finding a dealership specializing in semi truck sales near me makes for a better buying and selling experience. Local dealerships are more likely to provide other locals with a better deal on their sales. If you are in Chicagoland, visit Handshake Fleet for the best deals. 

• Be Honest – Dealerships like Handshake Fleet believe honesty is the best policy. In fact, dealers are more likely to buy or barter the truck on your behalf if you are honest about its current condition. Since many dealers will purchase used trucks and trailers solely for their salvageable parts, remain candid about their age, past repairs, and any mechanical malfunctions. Ensure you share information about the truck’s mechanics, brakes, and other issues – doing so will create a more effortless selling experience for you. 

• Discuss Features – Every semi truck and trailer has unique features. Discussing these features – such as laid capacity or engine stability – increases the potential value of your vehicle.

• Consider Resale Pricings – While you can sell your vehicle privately, we suggest selling directly to a dealership. Most dealerships purchase used vehicles for resale and offer quotes and competitive dealership prices. Additionally, dealerships are often willing to negotiate prices and often more than happy to make a quick sale if you want to get rid of your vehicle as soon as possible. 

Handshake Fleet Will Sell Your Vehicles

Are you hoping to sell your trailer or truck quickly and for a fair price? Or are you searching to purchase the most popular semi truck on the market? Handshake Fleet aims to make buying and selling commercial vehicles a pleasant and hassle-free experience. As a licensed commercial truck trader, we have the knowledge and expertise to sell your vehicle quickly for the fairest price available. Contact us today for an estimate and overview of our selling strategies.