A Guide for Truck Buyers: 5 Steps to Buying a New Truck
Thinking of buying a new truck? Follow our useful step-by-step guide
Finding a truck that best suits your operation can be overwhelming. Choosing a new vehicle is not a decision to be taken lightly and requires both time and effort, so it pays to arm yourself with a little knowledge about what it is you’re looking for.
Whether you’re interested in buying your first truck or are looking to expand or upgrade your existing fleet, we’ve put together a quick guide to highlight the 5 key points you need to consider when buying a new truck for business.
1. What do you carry?
Make a list of all the items you carry now, whether this is tools, product or pallets. This will help you to determine the dimensions and load bearing capacity of your new truck. Things to consider include:
- What weight do you need to carry? Both the maximum and the average likely weight are relevant.
- What shape is your load? Square pallets, tools, plant, loose gravel or soil, there is a truck body for every requirement.
- What sort of weekly mileage do you do?
- Are your journeys mostly in cities and towns, or are they on motorways or in more rural areas?
All of this will dictate what sort of engine, body, chassis and vehicle size you require.
2. What is your budget?
Trucks are a big investment, and one that you want to budget for accordingly. Nowadays, there are many different finance options available to truck buyers. So what form of finance best suits your business?
You will need to consider:
- How long do you want the vehicle for?
- How much of a deposit can you afford?
- How much can you afford when it comes to monthly repayments?
If you’re VAT registered, it’s also worth considering when your VAT quarters are, as this could affect the best time of year to purchase your vehicle.
3. Cost of ownership
The cost of running your truck is an important consideration. You’ll want to think about both fuel consumption and insurance costs, each of which can vary from truck to truck and have an impact on your budget.
There are many other factors that can contribute to your total cost of ownership:
- What are the common costs associated with running your vehicle?
- What are the servicing and maintenance costs?
- What are the terms of your vehicle’s warranty?
- Are there any mileage limitations attached to the warranty?
- Are there support packages available?
- If so, what packages are available and do they offer fixed-price maintenance?
This will all affect your running costs and the ultimate residual value of your truck when you come to sell it or trade it in.
Health and Safety is a major concern for any business using HGV or LGV vehicles both for compliance reasons and the safety of your employees.
It is important to think about what safety features you require. Extra precautions can include: beacons, reversing camera systems and reflective strips.
5. Expert advice
With many main dealers’ sales staff fully trained to help with common questions and considerations, there’s no reason not to ask them for help or advice. They may have questions or suggestions you hadn’t considered before.
We hope our 5 helpful steps offer some support for you on your journey. We’re here to help, so if you have any questions, please feel free to get in touch and speak to one of our experts.