What To Look for When Buying a Commercial Vehicle
If commuting or transporting goods is a big part of your business, purchasing the right commercial vehicle can make life a lot easier. If you’re looking for something to fit your needs, you might not know what to buy and how much to pay for it. Read this brief guide on what to look for when buying a commercial vehicle before you go out and make your next purchase.
Look for Incentives
Manufacturers often offer incentives for companies looking for vehicles to use for their business in the form of cashback, cash discounts, or rebates to attract business owners. These types of offers can net you a great deal.
Many auto manufacturers give fleet discounts if you are looking to buy multiple vehicles. If you want to purchase 10 or 20 cars, you could qualify for a fleet discount. With this type of deal, you may even have a chance to outfit your fleet vehicles to your preferred configuration. Incentives will vary from manufacturer to manufacturer, so be sure to shop around.
Line up Financing
Your commercial vehicle’s title and registration may be under the business’s name instead of on your own. If you are directly financing your vehicle under your business’s name, there are a few differences you should be aware of compared to purchasing a private vehicle under your own name.
Make sure you are working with a bank that regularly handles commercial vehicle loans. Your state might also offer tax incentives for small businesses, which would cut down on the total cost of the vehicle. Also, speak to your tax professional about possibly deducting your loan finance charges and fuel and maintenance costs.
Find the Right Vehicle
Before jumping into the market, you’ll want to understand what you need out of a commercial vehicle. You may require a delivery truck, a panel van, or a regular pickup truck or car. Some car dealerships might not be familiar with small business financing, or they may not be able to modify the van to your needs. If you can’t find a dealership near you that serves your needs, plenty of online dealerships are ready to help you.
Security is always an issue. You’re likely to have expensive tools and maybe even cash in your vehicle, and you’ll need deterrents that will keep thieves out. For example, if you have a cargo van, window screens provide you with internal security and safety. Locks that automatically engage when the doors close are an excellent idea for the cargo area of any work vehicle.
We hope this guide on what to look for when buying a commercial vehicle has helped you move forward with your vehicle purchase. If you do your research and investigate all your options, you’ll be sure to make the right choice for your business.