When the ELD mandate was first announced, many drivers jokingly stated that they were going to buy a pre-2000 vehicle to be able to skirt the rules. The bill, which goes into effect on December 18th, 2017, will require all trucks model-year 2000 and later to be equipped with an electronic logging device. Drivers of these vehicles will no longer have the option of using hand-written paper logs as their primary method of time keeping.
It now appears that many drivers have followed through with their interest in pre-2000 trucks, as the demand has caused a significant spike in expected prices.
The chart below comes from TopBid.com, a equipment value website owned by trucking publisher Randall-Reilly, and shows the surprising price action of pre-2000 vs post-2000 used truck.
The chart show that a 1995-99 model-year truck sells for nearly the same amount in September 2016 that it did in October 2014, despite being two years older. On the other hand, the average 2000-2004 model-year truck has dropped from an average selling price above $17,0000 to under $14,000 in the same time period.
New laws generally have unintended economic effects, and clearly the strength of value in pre-2000 trucks is one of them.
Have you bought (or are you likely to buy) a pre-2000 truck before the ELD mandate becomes law next year? Let us know your answer in the comments below.