In summary, even though buying a commercial truck can start out as an unnerving task, it doesn’t have to be.
Here are four useful steps to take in order to mitigate costly mistakes:
- Identify your business needs: Before you dive head first into a sea of commercial truck options, it is crucial that you identify your business needs first. What are you transporting? How much are you hauling? How far are you traveling? What type of terrain will you be covering? What kind of maneuverability will you require? What kind of fuel efficiency are you expecting? What are you currently licensed to drive? This information will help you take your next steps.
- Do Your Research: Now that you’ve outlined your business needs, it’s time to see what’s out there. You’re not looking to become a professional on the subject. You’re simply seeking information in order to become more confident and knowledgeable about the features and specifications that match your business needs. For example, a truck’s size and capacity will affect its maneuverability, fuel efficiency and load-carrying capabilities. This is in direct correlation to price and leads to the next step.
- Establish your budget: Now that you’ve done your research, it is time to establish a budget. Be certain to factor in other related costs such as fuel, insurance and maintenance. It would also be wise to reach out to your CPA to discuss whether cash, credit or a Commercial TRAC lease would be best for your particular situation. It’s also vital to discuss the merits of financing a new vehicle under your business name versus personal. Once you’ve sorted out your options, you are now ready to take the most significant step of all.
- Team up with a seasoned commercial truck professional: Choosing a reputable dealer can make all the difference in the world. Plus, it’s important to note that not all automotive dealerships have a designated commercial fleet division. For example, not every Chevy dealer has a Business Elite fleet department, which offers additional services such as extended hours beyond the traditional 9-to-5 day and access to specialized credit lines of $500K or more. It’s also imperative that you find a fleet dealer that has a seasoned staff with the proper knowledge to build the correct vehicle, not just for the job, but for all safety and legal regulations as well. No one knows your business better than you, but the partner you choose should be just as invested. It should be someone with whom you can build a long-lasting business relationship, understands that “time is money,” and respects the fact that you simply don’t have the time to invest in lengthy stints at the dealership.
In summary, even though buying a commercial truck can start out as an unnerving task, it doesn’t have to be. By identifying your business needs, doing your research, establishing a budget and teaming up with a seasoned commercial truck professional, you can succeed in making the perfect purchase that fits your business needs to a T! QCBN
By Kenny Perkins
Kenny Perkins and Kurt Roberts are the fleet and commercial managers at Lamb Chevrolet and Cadillac located at 400 Prescott Lakes Pkwy in Prescott, AZ 86301. For additional information or to schedule an appointment with Kenny Perkins, call 928-778-5262 or email Kenneth.perkins@lambauto.com. Kurt Roberts can be reached at 928-777-9375 or Kurt.roberts@lambauto.com. Interested in finding a work truck that can be customized for your business? Check out our actual inventory at www.lambchevrolet.com.
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