Pelagic Blog

As the used truck market evolves in Q3, finance managers must adapt to seize new opportunities. Discover how Pelagic Capital can help you turn more deals and boost your numbers.

Current Trends in the Used Truck Market

As we roll into Q3, the landscape of the used truck market continues to shift. Retail sales are softening slightly, with some buyers sidelined by higher interest rates or stricter underwriting standards. On the flip side, wholesale activity is on the rise, indicating faster dealer-to-dealer movement. Additionally, first-time buyers and credit-challenged customers continue to drive a large portion of inquiries.

These trends highlight the dynamic nature of the market and underscore the importance of having a flexible and responsive financing partner. At Pelagic Capital, we recognize that these aren't 'bad' buyers—they're underserved buyers. And we’re here to serve them.

Challenges and Opportunities for Finance Managers

Finance managers are on the front lines, facing numerous challenges such as closing more deals, turning aged units, hitting PVR targets, and avoiding 'dead deals' from banks and box lenders. The current market conditions present both challenges and opportunities.

Navigating these challenges requires a keen understanding of the market and the ability to adapt to changing conditions. By partnering with the right financing provider, you can turn these challenges into opportunities for growth and success.

Pelagic Capital's Q3 Solutions

At Pelagic Capital, our focus this quarter is simple—help you sell more trucks by getting more buyers approved. We offer a range of solutions tailored to meet the unique needs of finance managers in the used truck market.

Our First-Time Buyer Programs come with low documentation requirements, making it easier for new buyers to get approved. For credit-challenged customers, we offer solutions that pick up where traditional lenders leave off. With fast turnaround times—often with same-day approvals—and dealer reserves available for approved volume partners, we provide the support you need to close more deals quickly. We also offer start-up and non-CDL financing on a case-by-case basis.

Strategies to Build Your Pipeline in Q3

Q3 is the perfect time to build your pipeline and set the stage for a strong finish to the year. Partnering with Pelagic Capital on your turndown deals can give your deals a second life and your numbers a boost.

Consider testing our program on a first-time buyer or re-engaging leads that got declined last quarter. By leveraging our flexible financing solutions, you can turn more inquiries into approved buyers and close more deals.

Partner with Pelagic Capital for a Strong Q3

Whether you’re working with a buyer who just got their CDL, someone with a thin credit file, or a customer that was declined by other lenders, Pelagic Capital is here to be your go-to backup that often becomes your Plan A.

Let’s make Q3 your strongest quarter yet. Contact us today to learn more about how we can help you achieve your goals and drive more success in the used truck market.