If you’re buying your spouse a truck for Christmas we’re envious. However, most of the people buying trucks at this time are businesses trying to make a year-end purchase.
A bargain truck is not a bargain if it doesn’t run and is unsuitable for your company. It’s probably not the best idea to look for bargains if you are looking for a fleet of trucks.
If you only use trucks for one-off events, it may be better off if you hire instead of buy, in which case you will tend to pay about 20% of the costs up front and can use money from the business (hopefully) to assist with further payments.
Then again, if you’re the type of business that requires a truck it renting could cut into profits quickly.
If you are only looking for one truck rather than a whole fleet, here are some helpful hints.
- Don’t look for a capacity bigger than you can manage. If you are a house clearer and you only deal with small houses, there is no point in getting a large truck. It is better to make one or two trips. Sometimes a SUV or pickup is a better option, it all depends on the amount of funds you have at your disposal.
- If you have to borrow money to obtain the truck it is best to attempt to get the best terms. If you feel that the business it is too unstable for you to borrow money it may be better to leave it until there is more cash flow. Still, all businesses need transport, but don’t go bankrupt, it’s not worth the hassle. It’s a big thing, so seek financial advice, including talking to your tax advisor (as the truck is a taxable commodity).
- If you can trade in an old vehicle this will help with financing the truck.
- A “good deal” or saving money on a truck requires that you find a well-priced vehicle that won’t cost you more in repairs than you save. Use an inspection service to verify your vehicle before service.
- As with buying a car, always see the truck before handing over the money, always pay cash and inspect the vehicle in daylight. This is especially important if you are shelling out for a huge item such as truck, rather than a car.
- Always ask for a test drive before you buy. It’s vital that the vehicle can negotiate corners correctly, maybe there are warning sounds? Again, it is better to be safe than sorry and use an inspection service.
- If you are using a car to visit the truck, buy it and collect it, make sure you have some way of bringing the car home. And you should be qualified and the right age to drive the truck.
- It is better to deal with individuals with references who have experience in selling trucks, rather than someone on EBay or Facebook.
- PS if your intending to do business using “ice roads,” you will a special license. You’ll want to examine all the paperwork involved in this kind of enterprise, before selecting a vehicle.