If you are an owner-operator or would like to be one, one first step that you have to look into is making sure that you have a reliable truck. If you're replacing your old truck or buying your first big rig ever, you may want to consider looking into your used options rather than buying a new one. Even though a bright and shiny brand new truck might be appealing, these are a few reasons why you might want to buy used instead.
1. You Can Save a Lot of Money
A large-scale trucking company might have the budget to buy brand new rigs for its drivers every few years. If you are an owner-operator, though, chances are good that you just don't have that kind of budget. When you start looking at used trucks, however, you are sure to see that the costs are much lower. If you're on a tight budget, buying an older truck that doesn't have too many miles on it and that is in good shape can be a good business decision, at least until you are able to save up the funds to buy a newer truck. Even if you have a little more to spend, buying a truck that is a couple of years old can be a great way to shave off a huge percentage of the purchase cost, which can leave you more money for other aspects of your business. Since the cost of maintaining a rig and otherwise conducting business can be costly, it's smart for small business owners like you to cut costs when you can .
2. You Might Find That Financing is Easier
Along with being able to save quite a bit of money on the purchase price of your truck itself, buying a used rig rather than a new one can make financing easier as well. In many cases, you have to have excellent credit in order to qualify for a more expensive loan for a brand new truck. If you buy used, however, you might find easier options if your credit isn't perfect or if you are otherwise concerned about getting approved. Some individuals and used rig dealerships sell their trucks with owner or dealer financing, for example, which can be easier to get approved for.
As you can see, there are a few reasons why you might want to consider buying a used rig if you are an owner-operator. If this is not something that you have looked into, now is the time to start looking at your used options. You might just find that this is your best business decision for your trucking business.