It’s no secret that used tow trucks are more affordable than those that are brand new, but the process of hunting down the perfect truck can seem daunting enough to scare even the biggest penny-pincher away. Luckily, it isn’t nearly as hard as you’d think, especially if you use these four tips!
Know Your Stuff
It’s important to be knowledgeable about any tow truck you’re buying, but when you’re looking into used, it’s even more crucial. Do some research to see what trucks have a good reputation in the industry. You’ll want to know what trucks are known to last and hold up well to years of towing.
Ask a few of your industry friends what their preferred makes and models are and check out Facebook groups and online forums. People love talking about their trucks and business, so don’t be afraid to ask! You’ll be surprised how willing other business owners are to give advice, especially if you aren’t their direct competition.
Once you have some trucks in mind, make sure you know enough about them to really evaluate their worth. You want something that will hold up over time and that won’t require outrageous repairs in the near future. If you’re a little rusty on auto repairs, turn to a trusted mechanic. Run a few of the specks by them or see if they’ll inspect the potential truck. It could save you from a major headache later on.
With so many online truck buying options, it’s easy to shop around. No more driving from dealer to dealer only to find they don’t have what you need. Online classifieds and dealer inventories make it easy to see all your options. They allow you to cover more ground and see things you otherwise wouldn’t.
Find the Right Financing Partner
Even though buying used is more affordable, financing is still a great option for helping a used tow truck easily fit into your budget. Some lenders have set restrictions when it comes to financing used trucks. You’ll want to find a lender that understands used trucks and doesn’t impose unreasonable terms just because the truck isn’t fresh off the assembly line.
You’ll also want to find a lender that offers customizable plans. Cookie-cutter leases and financing agreements just don’t work for most towing businesses. Make sure they will work with you to fully customize your term length and payment structure to give you the best shot at success.
Adjust Your Timeline
If you’re lucky, you’ll find the perfect truck in a jiffy, but more than likely, it’ll take some time to wade through all the options. You may even have to wait a few weeks for the right truck to go on sale. Don’t let that discourage you! The wait will be worth it when you find a great deal.
While you’re still shopping around, consider getting pre-approved for financing. You don’t need the exact truck picked out and it will save you time in the long run. You wouldn’t want the perfect truck to slip through your fingers just because you haven’t started the financing process.