If you're looking to purchase a semi-truck for your owner-operator business and if you're a bit strapped for cash, you might be thinking about buying an older and more affordable model. On paper, this can make a lot of sense and can seem like a good way to save money. However, you might find that it's not the best idea and that you may want to look into financing or leasing a newer model instead. Here's why an older semi-truck might not be the best choice.
1. It Doesn't Have the Same Safety Features
The last thing that you probably want when you're on the road is to get into an accident. However, it's always a possibility. Just like with cars, newer trucks often have a lot more safety features that you can rely on in the event that there is an accident. Many of them have safety features to help prevent you from getting into an accident in the first place. Since safety should always be a top priority for anyone who is operating a large truck, this is definitely a concern to think about.
2. Repair Costs Can Be Expensive
It might look like you will save a lot of money by buying a used truck. However, you may find that your repair costs on an older truck are much higher. If you lease a newer truck, you shouldn't have to worry about many repairs at all, other than just basic maintenance. With an older truck, though, you could find that all of your savings end up being spent on repairs.
3. It Doesn't Look as Good for Your Business
If you're in business for yourself, you probably want to ensure that you come across in a professional manner. Unfortunately, an older truck might not help with this image. When you're looking for companies to work with, they might see your old truck and think that it will be unreliable. It can be easy for others to see businesses that have a fleet of nice, shiny new trucks in a more positive light. By leasing or buying a newer semi truck, you can ensure that your trucking business looks good. This can help it grow.
As you can see, before you decide to go with an older truck, you should really consider the perks of leasing or buying a new one. Leasing a new truck can be surprisingly affordable if you're tight on cash, so it may definitely be something that you'll want to look into.