If you are planning to buy one or more commercial vehicles, you will spend a lot of time thinking about things like spring rates, cargo capacities, and rear-end ratios. Shopping for a commercial van or truck can be confusing because there are so many details to consider, and that can make it easy to forget something important. Here are a few tips that could help you choose commercial vehicles that meet your needs and fit your budget.
Determine Your Fleet Size and Budget
Before you start looking at ads and visiting auto dealerships, you will have to determine how many commercial vehicles you will need and how much you will be able to spend on each of them. When you plan your budget, don’t forget to consider insurance, repair, and maintenance costs. This is important because commercial vehicles are involved in a lot of accidents, drive many miles each year, and spend a lot of time in the shop.
Don’t Forget About Warranties
New commercial vehicles are backed by factory warranties that cover the costs of repairs for several years. You will have to purchase a warranty if you buy a used commercial vehicle, and that could cost several thousand dollars. If you do buy a warranty to cover a used commercial vehicle, make sure that it is backed by the manufacturer. Some dealers sell third-party warranties that very few repair shops will accept. If you purchase one of these warranties, you will have to cover the cost of repairs and then submit a claim. If you have a factory warranty, the commercial vehicle dealer will take care of all of the paperwork.
Consider Leasing
Leasing makes a great deal of sense for businesses because the monthly payments are made up of depreciation and interest, which are both tax deductible. Your monthly payments will almost certainly be lower if you lease your commercial vehicles, and you may not have to put any money down. When the lease is over, you will be able to return the vehicle or exercise your option to buy. The only real downside to leasing for a business is the mileage cap. If you return a leased commercial vehicle to the bank after all of the payments have been made, you will be charged 15 or 20 cents for each excess mile.
Think About Your Needs
Cars and SUVs are usually identical under the metal regardless of their trim level, but commercial vehicles often have numerous suspension and drivetrain options. Heavy-duty vans and trucks have much higher sticker prices, so you will spend more than you have to if you buy a commercial vehicle that is more capable than you need it to be. There is no point in spending thousands of dollars extra on an engine that produces huge amounts of torque if you don’t plan on towing anything, and paying extra for a heavy-duty suspension will be a waste of money if you won’t be hauling heavy loads.
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Find a Dealer That You Can Trust
You will spend less time worrying about your fleet of vans or trucks if you find a dealer that has salespeople and technicians who know about commercial vehicles. Dealers that do a lot of commercial business may have access to lenders that specialize in truck loans or leases, and they will know who to call if you need specialized equipment like storage bins or toolboxes.
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