What Should I Look for When Buying a Truck for my Trucking Company?
Updated: Mar 16, 2020
You're ready to buy your first big rig but don't know where to start. Trucks aren't one size fits all - they come down to personal preference, the type of work you'll be using it for, and affordability. Buying a truck is a huge decision when you're in the trucking industry, and you need to be patient in the decision-making process. You want something that is reliable, but also affordable. If you don't know what you're looking for you could end up spending a lot more money than you need to initially or end up with a truck that costs you more in the long run.
Lucky for you, you've come to the right blog. We have compiled the best tips for when you buy a truck for your trucking company!
Buy or lease?
First things first and probably the most important, do you want to buy a truck or lease one? This is where you need to set some financial boundaries. You need to know how much you'll have for a down payment if you're planning on buying, or what your future earnings will look like to know what type of lease you can afford.
From a long-term perspective, buying a truck is the best way to go and will save you thousands of dollars in the future. If you plan on driving a truck for a while, that needs to be considered. If buying a truck is completely unaffordable and impractical, you can lease a truck instead. To learn more about the difference between leasing or buying a truck, check out this blog - Should I Buy or Lease a Truck For My New Trucking Company?
If buying a truck, new or used?
Here's the next thing - if you buy, are you buying a new or used truck? For a new truck driver, a used truck is a great option. But with buying used equipment there is always a level of risk associated with it. Yes, a new truck is more expensive. But, sometimes with used trucks you'll end up spending more on the repairs and upkeep over time. If you are interested in buying a used truck, this blog will tell you everything you need to look for to find the best one for you - What to Look for When Buying a Used Truck for my Trucking Company.
What are you going to be hauling?
You need to know what type of work you will be doing with your truck. There are different types of trucks, all with different sizes and GVWR. For example, you don't need a double drop trailer if you're going to be hauling general flatbed freight. The distance you plan to run should also be considered when you're choosing a truck.
Once you decide on your spending capacity, what work you'll be doing, and what type of truck you want to buy, find a trusted dealership or salesman, a reliable mechanic and local repair shop, and always take your time in the decision-making process.