With so many types of tow trucks on the market, it can be challenging to choose the type that will make the biggest impact on your fleet. Before you pick just any truck, you’ll want to take into consideration several factors. The following overview will help guide you as you look for the best tow truck for your business.
Flatbed Tow Trucks
Hook & Chain Tow Trucks
Wheel-Lift Tow Trucks
New or Used
To determine what type of tow truck to acquire, you’ll need to determine the needs the tow truck will fulfill for your business.
There are three different categories tow trucks fall into: Flatbed, hook & chain, and wheel lift.
Flatbed Tow Trucks
Flatbed tow trucks are the most widely used type in the world. A flatbed tow truck has a long empty bed with a flat top that can be inclined by using hydraulics. The vehicle is then securely fastened to the bed, in turn preventing vehicle damage. They are easy-to-use, extremely safe, and efficient.
Hook & Chain Tow Truck
The hook and chain tow truck uses a hook that’s attached to a vehicle’s front end which is then hoisted off the ground. The vehicle is then transported with just two wheels on the ground. The potential risk of damage is higher compared to other tow trucks, so most drivers opt for other types.
Wheel-Lift Tow Truck
Similar to the hook & chain tow truck, wheel lift tow trucks transport vehicles with two wheels off the ground. The wheel lift tow truck (also known as a wrecker) has a metal yoke that is placed under either the front or rear wheels of the towed vehicle. Hydraulics then lift the wheels off the ground. This method distributes the weight of the vehicle more evenly, reducing the risk of damage.
New or Used
It’s no secret that used tow trucks are more affordable than those that are brand new, but the process of finding the perfect truck can seem intimidating. Before you make a final decision, it’s important to be knowledgeable about any truck you’re buying. Evaluate your potential purchase by researching, shopping around, and reaching out to your industry friends. When looking at used tow trucks, you want to make sure that the truck you select will hold up over time and won’t require numerous repairs in the near future. On the other hand, with a new tow truck you won’t need repairs at the get-go. Research truly is key.
Regardless, if you choose to add a new or used tow truck, it’ll take some time to wade through all the options. You may even have to wait a few weeks to find the right truck, but don’t let that discourage you. The wait will be worth it.
Growing your business doesn’t have to put a huge strain on your cash flow. Tow truck leasing and financing exists to help you afford the right truck your business needs at the right time.
Whether you decide to get a new or a used tow truck, you should find the right financing company that can get you a financing plan for either scenario. There are some key differences when deciding whether to finance a new or used tow truck:
- Warranty and customer-service plans
- Prevent future downtime due to breakdowns
- Costs more
- Less of a return on investment
- More affordable
- See a profit sooner
- Fit into your budget easier
- Trucks more likely to experience breakdowns because of previous use
You might think that financing used equipment is too complicated, but that isn’t necessarily true. Equipment financing companies that know your industry will be able to craft creative plans to fit your business’ unique needs. Reach out to a lender like Beacon Funding who offers easy, fast, and flexible financing for new or used tow trucks.
Get Pre-Approved Before You Decide
While you’re still shopping around for the perfect tow truck, consider getting pre-approved for financing. The beauty of a pre-approval is you don’t need an exact truck picked out yet. It’ll even save you time in the long run, because you’ll know how much you can afford before you decide on the right truck.
Don’t let the perfect tow truck slip through your fingers! Now that you’ve read our tips, you can find the perfect truck you need and financing to boot.