So you are looking to buy a new truck? Some of the things that you are probably thinking include the cost of ownership, what you will use it for and how you will finance the truck. But you should also think about how much the truck will be worth when the time comes to sell it as this will have a huge impact on the return of your investment. Let's take a look at how you can maximize the resale value.
There are three important rules to follow when buying a truck with good resale value. The first is to invest in a high quality product as there is always a demand for premium trucks. The other two are about specifying the truck in a good way and keeping it in peak condition.
When it comes to specifying it really comes down to striking the right balance between your needs and what will be a desirable investment for others when the vehicle hits the second hand market. Doing this for trucks with superstructure can be more difficult but if you are buying a tractor, there are definitely decisions you can make on engine, aerodynamics, fuel tanks and even color to get the most of your truck after it has served its time. Buying vehicle that doesn’t make any compromise on cab comfort and space, adding spoiler kits and not specifying your truck by limiting it for one driving condition are just a few of the easy steps you can take towards better resale value.
When it comes to maintenance, the rule is simple; a well taken care of truck with maintenance proof will always be an attractive option for future customers. In my work as Used Trucks Sales Director, one of the things I always underline to customers is the need to check the maintenance history of a prospective purchase and to do a thorough inspection with the help of a professional mechanic.
A well maintained truck should not just look good on outside but also be in mint condition when it comes to mechanics, electric components and things that are expensive to replace like tyres. You can read more about my tips on buying used trucks here.
Trucks are depreciating assets—there is little you can do to ‘add value’ to them. But there is a lot you can do to maintain value and it is in your interest to do so as depreciation will most definitely eat into you profits. In order to help you increase the resale value of your truck(s) I have put together a guide that includes: