Wondering what you should know about buying used commercial vehicles? Want to make sure you get the best vehicle for your business needs?
While you may have been thinking about buying a brand new commercial vehicle for your business, there are a lot of benefits to buying a used one instead. A used vehicle offers several advantages over new vehicles, and among other things is much more budget-friendly. You’ll also have a higher range of options to choose from when buying used since there will be multiple years of used vehicles to sift through to find one that fits your needs.
However, you need to do your due diligence before buying a used commercial vehicle. In this article, we’ll list the top things you need to consider when buying used commercial vehicles to ensure that you’ll be happy with your purchase.
1. Do Your Homework
The first thing to remember when buying a used commercial vehicle is that you’ll need to do plenty of research when choosing one.
Make sure that you find out everything you can about a vehicle’s current condition and whether it’s in good shape structurally and mechanically. You should also find out about the vehicle’s history. Find out how well the previous owners have maintained it and what repairs have been made.
Finally, it’s important to find out everything you can about the owner or dealer you’ll be getting the vehicle from as well. Buying from a reliable dealer such as Homerskelton Ford can help you rest assured that you’ll be getting a great vehicle.
2. Calculate the Cost
When buying a used vehicle, you’ll also need to think carefully about the costs. While buying a used vehicle will likely be cheaper than getting a brand new one, it’s not as straightforward as it may appear.
Be sure that you evaluate the total cost of ownership (TCO) to find out what costs you can expect from owning the vehicle going forward. In addition to the cost of making the initial purchase, you’ll also need to contend with maintenance and repair costs as well. Repairing and maintaining your vehicle will likely be more costly than with a brand new vehicle.
Additionally, if you’ll be financing the vehicle, you should line it up beforehand so you can get a clear picture of what it will cost you on a monthly and yearly basis.
3. Don’t Forget Depreciation
As part of determining the cost of buying a commercial vehicle, it’s important to think about car depreciation. If you’re wondering if you should buy a new vehicle rather than a used one, understanding depreciation can make a big difference in your decision.
One of the best benefits of buying used is that it is a more frugal way to go. Brand new vehicles depreciate quickly. While they cost more than used vehicles initially, their value will go down fast.
The first year of owning a vehicle is the quickest depreciation period, so if you buy a used vehicle it will depreciate much more slowly compared to a newer one. If you want to save money and get the best bang for your buck it’s better to buy a vehicle that is at least 1 year old.
4. Remember the Paperwork
When buying a commercial vehicle, you should also remember to get all of the necessary paperwork. You’ll want to ensure that you get a title and proof of ownership along with a bill of sale.
Having proof of ownership will help keep you protected and will verify that the vehicle hasn’t been stolen The bill of sale may help offer protection in case there were problems with the vehicle that weren’t disclosed or if there is something wrong with it.
Additionally, you should plan on getting a warranty for the vehicle as well. You may want to consider buying from a reliable dealer to ensure your vehicle is covered by a great warranty.
5. Keep Familiarity in Mind
If you’re thinking about buying a used commercial vehicle, you’ll also want to keep its learning curve in mind. If there are certain vehicles that your workers are already familiar with, then it may be worth getting a used vehicle that works in a similar way. Otherwise, there might be downtime while they get used to it.
Luckily, you’re more likely to find used vehicles that will be familiar to them compared to new ones since there will be so many available. However, you’ll still want to do your due diligence and consider the functionality when purchasing.
On the other hand, some newer features can really change the game and allow for more efficiency in your business. You’ll want to consider your options carefully to ensure you get a vehicle that helps rather than hinders your business.
6. Consider the Appearance
Another thing to remember when getting a commercial vehicle is that looks matter quite a bit. While you might be happy to get your hands on a commercial vehicle that offers great performance but doesn’t look great, you’ll want to weigh out the pros and cons first.
If your commercial vehicle will be seen by the public, you may want to avoid getting a vehicle that will give a poor impression. While appearances aren’t everything, it’s worth taking into consideration when buying a used vehicle to use in your company.
Additionally, you should also be wary when purchasing vehicles that look rough and worn on the exterior. This may be an indication that the vehicle hasn’t been maintained or taken care of.
7. Stay Safe
One more important thing to remember when purchasing a used commercial vehicle is that it’s important to prioritize safety. Unfortunately, older used vehicles may not be as safe as newer models and may lack certain safety features.
You’ll want to ensure that any vehicles you’re thinking about purchasing have adequate safety features in place that can help keep your team safe. You should also aim to meet any regulations or compliance standards as well.
Remember to keep safety in mind when selecting a vehicle so that you won’t end up regretting your decision later on.
Making the Decision to Buy Used Commercial Vehicles
If you’re thinking about buying a commercial vehicle, it’s important that you consider all of the pros and cons of buying used commercial vehicles. While there are many advantages of buying a used vehicle instead of a new one, there are some things you’ll want to keep in mind in order to make a great purchase and to be satisfied with your decision.
