Fleet and rolling stock appraisals.
A fleet appraisal from Lukes & Lukes is an independent, USPAP-compliant opinion of value for commercial rolling stock: service trucks and vans, tractors and straight trucks, trailers, specialized upfits and yard equipment. Each is valued by type, age, mileage or hours, condition, spec and the active resale and auction market, after we confirm title and whether units are owned or leased. Built to withstand lender, SBA, IRS, audit and legal review.
What we appraise
The fleet, unit by unit.
We value single units or a full fleet, after confirming what the business actually owns. Owned, financed and leased units are often mixed, and only owned assets belong in the appraisal.
- Light and medium trucks and vans: service, delivery and work vehicles.
- Heavy trucks and tractors: on-highway tractors and straight trucks.
- Trailers: dry van, reefer, flatbed, dump and specialty trailers.
- Upfits and bodies: service bodies, lifts, tanks, cranes and mounted equipment.
- Yard and support: yard trucks, forklifts and ground support equipment.
What drives the number
Ownership first, then mileage and spec.
Leased units are not the business's assets, so we confirm title, lien and lease status before anything is valued. On trucks, mileage and documented maintenance lead, then year, make, model, drivetrain spec and condition. Trailers depreciate on a flatter curve and turn on type, length, suspension and floor or reefer condition. Upfits are valued in their own right. Because commercial vehicles and trailers trade through deep dealer and auction channels, comparable evidence is strong, and for a multi-unit fleet we weigh location and the cost to consolidate units.
Read the full breakdown: what fleet and rolling stock is worth →
Which value applies
The right premise for the situation.
The same fleet carries different numbers depending on why you need the appraisal. We determine and defend the premise your situation requires.
Common questions
Answers, up front.
What drives a commercial truck's value?
Mileage and documented maintenance lead, then year, make, model, drivetrain spec and condition. Trailers turn on type, length, suspension and floor or reefer condition. Upfits and specialized bodies are valued separately. Deep auction and dealer markets make comparable evidence strong.
Do you appraise leased vehicles?
Leased units are not the business's assets, so they do not belong in an appraisal of the fleet. We confirm title, lien and lease status first, and value only what the business owns.
Which value premise is used?
Lending, ABL and recovery usually use orderly or net orderly liquidation value; a sale uses fair market value; insurance uses replacement cost; estate matters use fair market value as of a date. For fleets we also weigh location and consolidation cost.
Are these appraisals accepted by lenders, the SBA and the courts?
Yes. Reports are USPAP-compliant, prepared by a NEBB-certified Machinery & Equipment Appraiser (CMEA), and built to withstand lender, SBA, IRS, audit and legal review.