When it comes to purchasing your truck, like any major purchase, it is important to take your time and do your research. This is an investment that carries your business, so finding what is right and maintainable for you, and your success, is vital. Below, our team at FreightWeb created a step-by-step guide for purchasing your first truck.
Understand the Purpose of Your Truck: Before starting this process, there are a couple questions to ask yourself, such as:
What kind of work will be done with this truck?
Do I want to buy new or used?
How will I handle the unexpected (e.g. unexpected repairs, drop in business)?
Do I want to finance, have a traditional loan or lease my truck?
Connect with Experienced Freight Professionals: Speaking to those who have undergone this process is a resourceful way to weed out unnecessary steps. By connecting with experienced logistics professionals it presents the opportunity to gain tips and tricks and potentially, a sales representative and/or dealership referral.
Choose Your Dealership/Salesman Representative Wisely: Many of us have gone through the sales process at a dealership, there is a lot of pressure to make the sale the second you step foot into the dealership. To combat this pressure, make sure you choose a reputable dealership and a sales representative that is attentive and knowledgeable about your needs. While this may take time to find, it is an important step to ensure you are getting the best truck available for your price point.
Do Your Research: Gather reviews on the truck for how it operates and maintains (this is especially crucial if you are buying used). Check out pricing on industry guides for new and used trucks.
Look at Your Financing Options: There are a multitude of options available when it comes to financing, regardless of your credit score. Speak with a banking professional to seek out the opportunities that are best for your financial and career ambitions.
Take Your Time: Overcoming this hurdle is a major step, so it is important to do your research and take your time.