Buying any new product in today’s era is not an easy task. The problems here seem to get worse when the product is a risk-heavy thing like a truck. A truck is not a small thing, and therefore you cannot rely solely on the opinion of your friends or verbal promotion of that truck to buy it. Because, here it is not a matter of a few rupees, but lakhs of rupees of investment, and when you invest so much money somewhere, then you will definitely expect profit.
The point to be noted here is that unlike cars, which are bought for the pleasure or convenience of driving. Trucks are bought to fulfil the needs of the business. Also, if this big decision of buying a truck is taken in haste. Then it may prove to be a deal of loss instead of profit. So now the question arises what kind of strategy or process should be followed while buying a new truck? And is the process of buying a new truck that serious?
Outline Your Needs
First, you must understand what kind of business you have and what kind of applications you will be using the truck. For example, you have a courier business, and you are looking for a truck to deliver couriers and small packages. There is a high possibility that you will need a pickup truck. For this, you can buy an Ashok Leyland Dost truck. But if you have not prepared a plan keeping the requirements in mind, then you can buy a heavy truck, which will be suitable for your business.
But it will not be beneficial, and it can prove to be harmful to you. Here the amount you have invested in buying a big truck can be invested in two pickup trucks, which will prove profitable for your business.
Feel free to research as many truck brands as possible and investigate from every angle. Also, make a list outlining the strengths and weaknesses of each truck model you’re looking at. And match these as per your expectations. Additionally, there is no match to personal experience, so if possible, talk to and discuss with the drivers or truck owners driving that model.
Ask them what type of difficulties they face while driving that truck model. It would also be good if you once visit the nearest authorized service centre of your ‘selected’ truck model to get an idea of the truck model’s spare parts and service prices so that you get some idea of the maintenance cost of the truck before buying it Go. Also, check if the truck model is available with a sleeper cabin.
Set A Budget
Now you have actual requirements in front of you. Now go through a few truck models, check their prices and decide your budget. Include as much downpayment amount as you can in the budget, along with RTO tax and insurance cost. Apart from this, if you want to make a truck body on your own, then set aside some money for that. Keep in mind that the construction work of truck loading deck or body costs at least one lakh rupees.
Check Resale Value
It may be awkward for many people to find out the resale value of a truck, but this way, you can save a lot of your hard-earned money. The resale value generally depends on the mileage of the truck, its operational life, availability of spare parts and their service cost.
Apply For Pre Approved Truck Loan
Most of the trucks procured in India are procured through vehicle financing agencies. And getting truck loan approval or approval is not easy at all. Many times, people cancel their decision to buy a truck due to non-approval of the loan. Therefore, apply for a pre-approved truck loan in advance. By doing this, you can also negotiate the final price of the truck.
Talk to different banks, and yes, make sure you have a good past credit record. Don’t forget to give the details of the loans taken earlier. Having a good payment history can help you get your loan approved faster and get attractive interest rates. In addition, once a pre-approved loan is available to you, other finance companies or agencies will try to offer you better deals on the same loan amount.
Please check all the models thoroughly. If you have any doubts about a model or its features, then clear it immediately with the help of the sales representative or manager present at the dealership. Also, request a longer test drive, and work out the problems you encountered during that drive. Keep a list of your basic needs in mind at all times. Do not hesitate to ask questions about every aspect of the truck as much as possible. Remember, the money you are spending is not the dealer.
If you are looking for a new truck, then this information will be beneficial for you. Also, if you need more truck-related information, please stay with us and look forward to our next blog. Here we will come with more exciting information.