Everything starts with a plan. Including, using your hard earned dollars to purchase your first truck.
I suggest the best the practice is to start by looking into the type of make that you fancy within your budget.
Yes, you may love that new Peterbilt or electric Tesla but, that doesn’t mean it’s feasible at the moment. I’m sure there’s a company out there that you trust and respect that utilizes that type of vehicle.
Respectively, it doesn’t mean it’s the right choice for us or our company. Despite how grandeur the reviews are doesn’t mean it’s a price we can afford or willing to tie our cash flow into.
Which is quite alright. We’ll get there with hard work and a plan. Be patient. We’re in this together.
Beware of past mechanical issues. That alone is a major setback that could cause the liquidation of your cash quickly.
Email me at Kenneth@ameritonfreight.com and I’ll send you a free copy of the equipment qualification checklist that my company uses. Include Equipment Qualification Checklist in the subject.
Think about it
Is it more efficient to purchase a sleeper or daycab?
Which model is optimal?
Reach out to other owners of the same make and see what they have to say about their vehicle.
Try multiple truck forums, online publications or professional reports.
Truckfreighter.com has a good review with a lot of information.
Contact a few vendors and explain the position you’re in. Be honest. See if they’re able to assist you now and in the future. You want a vendor that’s going to be there for you as you evolve and grow to a larger fleet. This could be a start of a new relationship that will benefit both of you for a very long time.
Don’t be afraid to voice what you want and need. Be flexible and realistic about what you’re willing to give up as far as features.
Make sure you mention the miles you’re planning to travel in a years time. Estimate weekly mileage and multiply by 52 if you’re planning to run year round. Or by 50 if you plan to give you or your driver an enjoyable two weeks vacation that’s well deserved.
In my personal vehicle I’m the first to want leather and a sunroof and not willing to give in. That’s probably why my fiancé says I’m stubborn. (There’s probably a lot more reasons, but that’s a whole new topic).
The next step
After you’ve located an optimal vendor that has the right equipment and similar values aligned with your company it’s time to work on financing.
Search for lenders that can give you the best interest rate and terms. This may seem difficult without running your credit. Although, I advise against running your credit until you’ve narrowed down your best candidates; as that could hurt your score and ultimately cause a higher interest rate.
Document the processes you took. That’s your purchasing system.
After the purchase of your new truck take a picture of you with your new ride and add it to the comments. We would love to see you on your way to success.
Now, go get that truck and own the Day!