Image source: Unsplash
While the sheer range of options when buying a commercial truck has effectively turned it into a buyer’s market, it also gives rise to indecisiveness, or the potential for wrong decisions, that can substantially hinder the operations or finances of a business. As a result, doing thorough research, and developing a deep understanding of the truck and its performance is absolutely essential for business owners.
Owning and operating a truck is a lucrative endeavor, with average salaries exceeding $70,000 a year and a persistent shortage of truck drivers. However, the long-term viability of this business model ultimately boils down to the vehicle, and how well it can support operations, and meet the requirements of the high roads.
A truck that maintains efficiency levels and performance well into 1 million miles can add tremendous value, whereas one that regularly breakdown or requires extensive servicing can eat into profits. In this article, we cover some tips for buying a commercial truck, that is vouched for by the trucking industry.
1. Consider Your Requirements
Commercial trucks come in various shapes and sizes to suit every requirement, but before even considering your options, it is essential to stay clear regarding your requirements. This includes the type of loads you are likely to carry, and the distances covered on average, along with the road, weather, and overall driving conditions.
There are other essential specs such as the driver’s cab, heating, cooling, and more, all aimed at the driver’s comfort and convenience, as the trucking industry is notorious for its high driver attrition rates.
2. Decide Between New & Used
A used truck with a flawless maintenance record, and less than 300,000 miles under its belt stands to offer substantial value to businesses, if available at the right price.
However, there is a lot that can go wrong with buying a used vehicle, and the lower initial cost outlay can often give way to extensive maintenance expenses, low performance, and bad fuel economy. Based on your requirements, a used vehicle might still make sense but requires plenty of thought and consideration before you go forward.
3. Make Sure You Know The (True) Condition of The Truck Before Buying It
If you’ve decided to go ahead with a used truck, make sure to thoroughly check the true condition of the vehicle before deciding to buy. Ads and descriptions on online classified sites often hide more than they reveal, and even the overall aesthetics of the vehicle often only serves to mislead potential buyers.
A great way to get a good feel of the truck is by taking it for a spin, and examining maintenance records in-depth. If you still have any doubts, make sure to work with a reputed service such as Charter Trucks when you buy and sell used commercial trucks.
4. Check The Model’s Track Record
It’s easy to look up a model’s performance on the roads within just a few weeks following its launch, and with a bit of effort, you can get a good idea regarding its prospects, along with the potential shortcomings.
There are a number of sites dedicated to tracking and analyzing the performance of truck models, aimed at providing potential buyers with reliable information about how a particular model is likely to hold up as the miles start to pile on.
A commercial truck can add substantial value to a small business, and because of this, great care needs to be taken when choosing and selecting the right truck to suit your requirements.
While a good selection can enhance business prospects, a bad one can create friction, headaches, and losses in the long run.