Charles Smith, Regional Business Development and Marketing Manager at Mission Financial Services, was recently featured in Transport Topics. The article highlighted the significant uptick in used Class 8 truck sales during April 2025 and shed light on a very important insight: the importance of building relationships with customers.
If you haven’t read that article, don’t despair. We’ve explored the industry context behind that article, Charles’ insights on market dynamics, and the Mission Financial Services approach to market challenges, right here.
Industry Context: April 2025 Used Truck Sales Surge
For industry context, let’s look at the used Class 8 truck market and examine the pricing and mileage trends that Transport Topics discussed.
Market Overview
First, it’s been a good time for used Class 8 truck sales. Used truck sales increased for a second month in a row in April 2025. The April figures showed a 3.5% year-over-year gain with a total of 23,600 units sold, and a 4.4% month-to-month jump, too!
This consistent growth demonstrates sustained demand despite broader economic uncertainties. It shows that trucking businesses are investing in equipment despite challenging conditions. It also reflects the essential resilience of commercial transportation.
Pricing and Mileage Trends
The average retail sale price decreased by 1.9% year-over-year to $58,132. Another interesting trend is the reduction in average mileage these used trucks have. It decreased by 4.5% to 400,000 from 419,000, a year ago.
This tells us that newer inventory is entering the used market, providing buyers access to equipment with a longer remaining useful life.
That’s good news for small trucking fleets and owner-operators with budget constraints. It means that buying a used Class 8 truck is more affordable. And lower-mileage vehicles also typically qualify for better loan terms and longer repayment periods.
Charles Smith’s Insights on Market Dynamics
It’s time to turn our attention to the insights Charles Smith shared with Transport Topics.
Navigating Economic Uncertainty
Smith didn’t shy away from the reality of current market conditions. “Used truck sales are, I’m not going to say down, but they’re stagnant right now.”, Smith observed.
He voiced what those in the truck sales industry have been thinking. Potential buyers have struggled with economic uncertainty. Many businesses adopt the wait-and-see approach rather than buying another truck, even when they desperately need to.
This reflects broader economic concerns that impact capital allocation decisions across the trucking industry. The stagnant market conditions he described align with feedback we receive from customers, especially owner-operators, concerned about uncertain future freight demand and operating costs.
Emphasis on Relationship Building
Despite widespread economic challenges, we at Mission Financial Services have maintained growth. And the reason? Charles’ words sum it up best: “It’s about building relationships and, I think, that was a big part of the growth for us.”
He credited the company’s recent sales to working even harder to reach and engage potential buyers. And he explained that building relationships with customers and dealership partners was central to our success.
Mission Financial Services’ Approach to Market Challenges
Mission Financial Services is no stranger to economic difficulty. But we have learned to overcome the obstacles through proactive engagement and collaborative partnerships.
Proactive Engagement
At Mission Financial Services, we take a proactive approach to sales. To quote Charles again: “We’re out pounding the pavement, knocking on doors, still trying to get the ones that are looking to purchase.”
This proactive engagement strategy reflects a crucial truth: successful lending requires ongoing market presence and customer education. Rather than simply waiting for applications to arrive, we actively engage with trucking businesses to understand their needs and provide the best solutions.
Collaborative Partnerships
As Charles emphasized in the interview, dealership partnerships play a critical role in facilitating successful transactions during challenging market conditions. And these are the relationships that enable Mission Financial Services to provide seamless financing solutions.
We recognize that strong dealership partnerships create value for all stakeholders involved in commercial trucking transactions.
Dealers benefit from reliable financing options for their customers, while buyers gain access to streamlined application processes and competitive terms. Our collaborative approach ensures that all financing considerations support, rather than complicate, equipment purchases.
Looking Ahead: Anticipating Market Trends
Several factors will influence used truck sales throughout the remainder of 2025. Freight demand patterns, regulatory changes, and broader economic conditions will all influence the decision to purchase equipment.
But we cannot deny that the financial benefits of used trucks extend beyond the initial purchase. They offer lower depreciation rates, reduced insurance premiums, and accessible financing options. And it’s factors like these that help smaller trucking businesses stay in business and remain profitable.
Therefore, it’s no surprise that the global used truck market is predicted to grow and reach 64.66 billion USD by 2030.
We anticipate that successful trucking businesses will focus on strategic equipment investments that support long-term operational efficiency. This approach requires careful evaluation of financing options and partnership with lenders who understand industry dynamics.
Our Promise to You
Here at Mission Financial Services, we’re still doing what we’ve always done, helping our customers get the financing they need.
However, we understand that small trucking businesses are hesitant to expand their fleet or undertake repairs to their existing fleet at this time. That’s why we’re adapting our programs to support customer success in evolving market conditions.
We guarantee you’ll still enjoy easy access to financial solutions and competitive loan terms. But you’ll also enjoy the service and support you deserve, with solutions that fit your finances regardless of market fluctuations.
Conclusion
We’re very proud that one of our own, Charles Smith, was featured in Transport Topics. He deserves the recognition, and we appreciate the publication’s faith and trust in our expertise. But we’re even more proud of the countless success stories we’ve helped to build with our financing solutions.
At Mission Financial Services, we remain committed to supporting trucking businesses and helping them achieve their business objectives. And we look forward to continued engagement with the trucking community, well into the future.
Contact us today for a tailored financing solution to drive your business’s growth and prosperity.
