Ask ten people what a used prime mover is worth and you will probably get ten answers. That is not because anyone is wrong. A prime mover's value depends on a long list of factors, and two trucks of the same year and badge can sit a long way apart once you look at what is under the cab. This post sets out a sensible way to build a price range, whether you are about to list a truck or you are the buyer trying to judge an asking price.
Start with comparable listings
The most useful evidence is what similar trucks are being offered for right now. Search the marketplace and other classified sites for the same make, a similar model and year, a similar engine and transmission, and a comparable axle configuration. Write down what you find, including how many kilometres or hours each truck has and how it is described.
Keep in mind that an asking price is not a sale price. Listings show what sellers hope to get. Some trucks sit unsold because they are priced too high. A truck that disappears quickly may have been well priced, or may have had something particularly attractive about it. Treat listings as a guide to the range, not a promise of what you will achieve or pay.
Work through the factors that move value
Once you have a handful of comparables, adjust your thinking for the differences. The main ones are:
- Age, kilometres and engine hours. These give a first read on wear, though they are not the whole picture. See our post on kilometres versus condition.
- Engine and drivetrain. Engine output, transmission type, rear axle ratio and whether major components have been rebuilt all matter. A recent in-frame overhaul with receipts can be an advantage; an unknown history is a risk.
- Configuration. Cab type, sleeper size, axle layout, suspension type and fifth wheel setup affect which buyers want the truck.
- Compliance and emissions. The emissions standard and any modifications can affect where and how the truck can be used. The National Heavy Vehicle Regulator is the place to start for national requirements.
- Tyres, brakes and consumables. A truck that needs new tyres or brake work immediately will cost its next owner money.
- Presentation. Paint, interior, chrome and general tidiness say a lot about how the truck was treated.
- Location. Distance to the buyer can change what they are willing to pay, once transport is considered.
Look at the records
Service history is one of the strongest signals available. A folder of dated invoices from a reputable workshop shows a truck that has been looked after. It lets a buyer judge the likely remaining life of components. If you are selling, gather the records before listing. If you are buying, ask for them early and read them rather than just noting that they exist.
Check what is owing
A truck's market value is not the same as what the seller can accept if finance is owing. A PPSR search shows whether a lender has registered an interest in the vehicle. If you are selling, find your payout figure from your lender before you set a price, so you know your floor. If you are buying, make sure any registered interest will be dealt with as part of the sale. Our post on PPSR and finance owing goes into more detail.
Build a range, not a number
After comparing, you should be able to describe three points: the price at which you would expect quick interest, a realistic middle, and a price above which the truck would probably sit. A seller can start toward the upper part of the range if the truck is clean and well documented, and leave some room to negotiate. A buyer can use the same range to judge whether an asking price is reasonable, and to decide how much a visible issue should affect the offer.
Get an independent view if the stakes are high
For a significant purchase or sale, consider a professional inspection or an independent opinion from a heavy vehicle mechanic or a dealer who handles similar trucks. A small cost up front can prevent a large mistake. If you need finance, a lender will often form its own view of the truck's value as part of its assessment, and that view may differ from yours.
A word of caution
This post is general information. It does not give you a price, and nobody can promise what a particular truck will sell for. Market conditions shift, and individual trucks differ. Do your own research, inspect before you commit, and take advice where you need it.
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