As one of the most important parts of your new business, the decision as to which truck to purchase is very important. If you're only looking at a new truck, it might be a good idea to also think about a used option. Here are just some of the benefits a used truck can extend to you.
More Operating Capital
Starting a truck business is a significant investment. Not only do you have to come up with a lot of money during the startup phase, but there are also significant operating costs involved, including insurance and vehicle payments. Buying a used truck can keep more operating capital in your budget so that you're protected when the unexpected happens.
When you purchase a used truck, you can typically look forward to lower payments and since the value of the truck won't be as high as the value of a new truck, you will likely also be able to look forward to lower insurance payments, saving you money all around.
Buying a new truck can also afford you the benefit of greater flexibility. When you're new to the trucking industry, knowing just exactly what you want in a truck can be somewhat of a difficult process. If you invest in a brand-new truck and then find out it's not exactly what you're looking for, it might be a while before you pay off the truck and are able to get something new.
However, with a used truck, you have greater flexibility. Since you won't be making such a large investment, you can get something newer in a shorter amount of time to better serve your needs.
When it comes to the value of a truck, it's important to understand the process of depreciation, a decline in value. Contrary to what many people think, a brand-new vehicle will depreciate at a faster rate than a used vehicle, with most of the newer vehicles being lost almost as soon as the truck is driven off the lot.
When you purchase a used vehicle, you will experience a depreciation rate that is much slower. Not only is this an issue when you want to get rid of the truck, but it can also lower the value of your business when you're bidding on contracts.
If you're trying to decide between a new truck and a used freightliner truck, make sure you aren't overlooking the many benefits that purchasing a used truck can afford you. These benefits won't just help you in the short-term, but also in the long-term.Share