Top tips for buying a new truck

Even if you’re a large organization, buying a new truck is usually a major investment. If you’re an individual or small-business owner, it can be a significant undertaking. That means it’s vital to get it right. To help you through the process, Ex Fleet specialists; Fleet Ex provide their insight into buying new trucks and vehicles for your business.

Get your paperwork in order first

First things first, before you go out and buy a new truck, make sure that you can cover all your legal bases. To begin with, you’ll need a heavy goods vehicle (HGV) operator’s licence. This is generally known as an “o” licence. If you do your homework, getting it should be a technicality.

The reason it’s important to do your homework is that you need to advertise your application in the local paper for a minimum of 21 days prior to application. That obviously means you need a company base and it needs to be one where stakeholders (e.g. your neighbours) are going to be fine with you keeping an HGV on the premises.

You’re also going to need a driver CPC (Certification of Professional Competence) and the relevant licence for the type of HGV you plan to buy. Alternatively, you’ll need an employee or contractor who does and that will mean a different set of paperwork.

You’ll typically only get insurance and finance after you’ve chosen a vehicle. You should, however, research your options for both beforehand. Quite simply, you’ll save yourself time, effort and possibly money if you limit your search to vehicles for which you will be able to get insurance and finance.

Determine a realistic budget

When you set your budget for your new truck, remember to keep running costs in mind. Fuel is the most obvious running cost. You do, however, also need to think about the possible need for repairs and upgrades.

If you’re buying from a dealer, then getting an extended warranty could give you peace of mind for repairs. An extended warranty won’t cover upgrades. That’s why you need to factor these in when considering the price of a vehicle. Keep in mind that upgrades won’t necessarily just be about your preferences. You may need to upgrade your truck to comply with local laws, for example, clean-air laws or safety laws.

Even if you do get an extended warranty, it’s highly advisable to investigate the availability of spare parts. There are three main reasons for this. Firstly, quite bluntly, an extended warranty is only guaranteed to be good for as long as the dealer remains in business. Secondly, it won’t cover anything the dealership considers to be user damage. Thirdly, it will probably (hopefully) expire long before your truck does.

Ideally, you want to find at least two potential sources of replacement parts for any truck you’re considering purchasing. The more you can find, the more reassurance you’ll have that you’ll be able to keep your vehicle going over the long term.

Decide what you need and what you want

Your needs will be determined largely by what you’re carrying and where you’re driving. A truck’s load-bearing capability is essentially determined by a combination of towing capacity and horsepower. If you’re planning on driving over rough terrain, you’ll need to go on the high end with both. Axle configuration and transmission type should also be important considerations.

You also need to think about compliance with local regulations where you’ll be driving. If you’re not clear on where you’ll be driving, then it’s advisable to choose the highest standard and comply with that. Right now, the highest standards in the UK are set in London. The city not only has extremely high clean air standards but also has additional truck safety requirements.

Once you’ve covered your needs, think about your wants and how high a priority they are. Keep in mind that even short-distance trucking involves spending long hours on the road. If you want to be happy at your job (or to have happy employees), it really is worth investing in your comfort.

Decide if you want to buy new or used

Buying anything new generally carries a price premium. This tends to be very true with any kind of motor vehicle. These generally depreciate sharply the moment they leave the dealer’s forecourt. That said, there are still a lot of good reasons for buying new, especially if you are buying your first truck. In simple terms, buying new is always your safest bet.

You’ll be buying from a dealer. You’ll have full buyer protection including a warranty, possibly an extended one. You’ll know that there’s nothing lurking in the vehicle’s past. Every single part of the truck will be literally brand new and hence in perfect condition. More than that, new vehicles will have the newest technology. That should give you a lot of protection if (local) governments upgrade trucking standards.

There is only one reason for buying used but it’s a very compelling one. Somebody else will have taken the hit on the depreciation. If you buy from a dealer, you will still get full consumer protection plus a warranty. You may still be able to get an extended warranty. If you buy privately, however, then the onus is very much on you to do your own checks.

If you’re new to truck-buying, therefore, you could potentially get a nice balance of economy and protection by purchasing a nearly-new truck from a dealer. There are, however, a couple of potential downsides to this approach. The first is that your choices will be limited to what the dealer has in stock. The second is that you may have very limited time to make a decision. While you’re thinking, someone else may be buying.

Tips for buying a used truck

Even if you’re buying from a dealer, you should inspect a used truck thoroughly. Start with its history. To begin with, why is it being sold?  Then check the mileage, the accident records and the maintenance records. If they come up clean, research the brand, the model and the key components especially the engine. See what kind of reputation they all have and whether there are any known issues with them.

If everything looks good, do a thorough check of the exterior (including the tyre tread) and the interior. Fire up the engine and see how well it starts. If you don’t know what you’re looking for in any of these areas, then find someone who does and bring them along with you.

Last but definitely not least, always take a truck for a test drive before you part with any cash for it. You need to be happy you can handle it before you make it your own.