So, your business has grown to a point in which it has become necessary to add a truck to the fleet. While you may have purchased a number of vehicles over the course of your life, it is important to understand that purchasing a truck for your business will be different than purchasing a vehicle for personal use. It will be important to develop an understanding of the process, as well as knowing what you should be considering as you move toward your final choice.
The diversity of trucks has evolved quite a bit over the past couple of decades. In the past, pickup trucks have been viewed primarily as a utility vehicle; however, they are now being used as primary modes of transportation — often possessing levels of luxury that rival some of the top luxury vehicles.
Allow Your Budget to Be Your Guide
It is immensely important for you to establish the budget that you will be operating within prior to beginning the search. One of the mistakes that business owners often make when adding a vehicle to their fleet is that they don’t have a set budget, which opens the door for them to become emotionally involved in the purchase, leading to overspending on a vehicle that likely possesses features that are unnecessary for business use.
When you have an established budget, it will set the parameters of your search. If the business will not be paying cash for the truck, it is also wise to get a pre-approval for the loan, so that you will know exactly what you will be paying for the vehicle.
Remember, just because you have been pre-approved for a certain amount does not mean that you have to spend the entire amount. You should be looking for the best value in a truck that has the capacity to meet the needs for which it is being purchased.
Give Consideration to the Manner in Which the Truck will be Used
How the truck will be used has a significant impact on the purchasing decision. Choosing a truck that falls within the budget parameters, but fails to meet the minimum capacity to perform the duties for which it is being purchased will end up being a wasted purchase.
Will you being hauling a payload with the truck or will it be primarily used to visit project sites? All of these things matter. If the truck will be driven long distances, it will be necessary to get a truck that can perform while being fuel efficient.
If you need more than one truck, it is best to break up the purchases, if possible, buying several trucks over a specified period of time.
Finding the Right Deal
Depending on the time of the year, there will be some great deals on pickup trucks. Dodge has some exceptional offers on Dodge Ram trucks in Canada. The key is to be patient during the search to ensure that you give yourself time to find the best possible deal.
As your business continues to grow, and the need arises to add to your existing fleet, the blueprint for making these types of purchases will virtually remain the same. You should set your budget based on what the company can afford, while giving consideration to the specific tasks that the truck will be required to perform.
Lee Mills has worked within the fleet industry for many years and is knowledgeable in all areas from fleet maintenance to fleet management. In his spare time he writes for small-medium business blogs sharing his knowledge.
Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.
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