After a period of economic uncertainty, the trucking industry is showing signs of a potential rebound. And while 2025 has brought its share of challenges, it’s also opened the door to strategic opportunities, particularly in the used equipment market. According to Equipment Finance News in an article dated May 29, 2025, new truck prices averaged $140,000, while used trucks averaged $47,000. For small fleet operators, this cost gap is significant.
This blog post examines the surge in demand for used equipment and provides insight for fleet owners navigating this specific market.
Several industry-wide factors are creating momentum in the used equipment space:
Tariffs are expected to raise the cost of new equipment. Rising new equipment costs will drive increased demand for used equipment, which then could push used equipment prices higher.
Many buyers are moving quickly to lock in deals on used trucks before prices climb further.
A rise in spot rates in late May 2025, paired with increased load volumes, has created urgency for some operators to expand quickly. To capitalize on these market conditions, operators are expanding their fleets at a faster pace, often turning to used equipment as a cost-effective and timely way to increase capacity without the longer lead times and higher cost associated with new trucks.
Diesel prices increased at the beginning of 2025 but have been trending downward since mid-January. The drop is significant (~40%) since a high in June 2022. These savings are creating additional cash flow that some fleets are reinvesting into acquiring equipment. Lower fuel expenses combined with strategic equipment purchases can potentially strengthen overall profitability and allow for accelerated fleet expansion.
After a period of decline, prices for late-model lease returns and fleet vehicles are beginning to rebound. Buying before further price increases may prove a savvy move.
As conditions fluctuate, used equipment is becoming a strategic lever, not just a budget option.
Timing matters. From an economic standpoint, the cost gap between new and used trucks translates into significant capital preservation. For growth-focused fleets, this means the ability to utilize capital more efficiently, freeing up funds for other priorities, such as hiring, insurance, maintenance, or technology upgrades. In a margin-sensitive industry, every dollar saved on equipment acquisition can be redirected toward revenue-generating operations.
Additionally, the lower upfront cost of used equipment, combined with rising freight demand, enable operators to start generating income with a shorter payback period. A way to look at this is that used equipment is helping fleets grow without over-leveraging or delaying profitability.
At Keystone, we’re ready to help you navigate used equipment financing with solutions tailored to your business. Whether you’re acquiring your first truck or expanding an existing fleet, our team brings the experience and flexibility to support your growth. We’ll work with you to understand your goals, streamline the process, and deliver financing that fits your timeline, cash flow, and long-term strategy.