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How to prepare yourself for buying a new truck

How to prepare yourself for buying a new truck

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Are you about to replace an old truck? Or are you expanding your current business? Have you found new business opportunities that call for new types of vehicles? Or are you perhaps looking for ways to streamline your fleet? No matter what your reasons are for purchasing a new vehicle - here are some questions you need to ask before buying a new truck.

  1. What kind of transport solution do I need? This of course is based on a number of factors. How much weight do I normally carry? Which kind of goods? What kind of environment? Long haul or local distribution?
  2. Which is the best dealer? Who do I trust? Where are they situated geographically? What does their service network look like? What is their reputation when it comes to the quality of the mechanics?
  3. Long-term or short-term investment? If I expect to have the truck for a long time, I have to consider whether diesel is still the best fuel or if I should look into some alternative fuel. Future legislation regarding emissions, safety and other factors should be taken into consideration. The time horizon will also determine the budget frame and what brands that may be most interesting.
  4. Should I buy new or used? Will the truck be used in tough conditions? Do I need a warranty? Is the most modern technology valuable for me? If the answer to these or some of these questions is no, some older models may suit the assignments better. If I buy a used truck, who should I buy it from? How will my service needs be solved?
  5. What are the current industry trends? Asking the right questions helps you stay informed about the kind of trucks available in your sector. Trucks, features and services around safety, productivity, driver comfort and fuel efficiency are constantly evolving. Which ones are the most suitable for my operations?
  6. What useful data do I have on my existing trucks? If you have a fleet management system, you’ll have access to a lot of useful data. How many kilometres have I run in the past six months? How much fuel has each truck and driver used? Which assignments have demanded most resources? Where can I see possibilities to improve my operations? Use statistics to set realistic goals, then decide on the truck with the best return possible.
  7. Which trucks are my competitors operating? Are your rivals running newer models? Are their operations more efficient as a result? You might want to play it safe and follow the crowd or make your own decision to gain a competitive advantage. A competitive edge could be a more environmental-friendly fleet with an alternative driveline like LNG or electric for instance.
  8. How will I finance my truck? Before considering your financing options, you will want to make sure you qualify. Some of the most important qualifications for truck financing include overall credit, down payment, insurance, age and condition of the truck.
  9. What is my current budget? When putting together your budget remember that the total cost of running a truck includes fuel, which can account up to 30% of the total operational costs. Take into account the number of kilometres between services, tyre and brake wear, longevity, maintenance costs and resale price.

 

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