When investing in a new fleet of service vehicles, there are a number of factors to consider before deciding to pull the trigger on some fancy new wheels. One that is often overlooked is resale value. While price point and features can get fleet managers giddy like a 5-year-old in a Toys R’ Us, the depreciating equity and long-term investment quality can quickly be thrown to the wind.
Today, we are going to tackle 5 key factors to consider when making a service truck purchase that will ensure your investment allows you the opportunity to cash out like Uncle Rick at the casino when the time comes again to upgrade (we are assuming, in this scenario, that Uncle Rick is very lucky and does very well on his trips to the casino).
Uncle Rick always manages to have those pocket aces. He also manages to always have a new girlfriend and sometimes smells like “mouthwash.”
Does your truck have a multi-functional use that can be adapted across industries? This is a double-edged sword, but still something to consider.
For example, there are perks to having mechanic trucks for sale that may not adapt well to welders needs. The mechanic trucks will have a specialized market for re-sale, that can yield higher returns, if you find the right buyer.
However, if you have a service truck for sale that can be adaptable across 3 or 4 uses of work, there are more buyers in the market. The downside of this, is with more buyers, there are typically more trucks, which drives the cost of your resale value down.
1. Specialized service trucks yield higher returns, but take longer to sell
2. Multi-use service trucks can be sold much quicker
3. Consider your options and forecast the future, before making a decision to buy
SPOILER ALERT: People will pay more for a used service truck if that truck is not rusted to hell. Take a minute to breathe and let that soak in.
All joking aside, it is important to consider the materials used in the construction of your service truck to proactively prevent issues like rust hitting your pockets when it is time to resell. Purchasing new service trucks made with aluminum, rather than steel, can save a lot of money on the back end when reselling becomes a priority.
Operating Performance and Viability
Regular maintenance on your service truck is essential to maximize your resale value. This goes for the body, as well as the truck. Don’t be lazy. Make sure to change the oil, flush the transmission, perform regular maintenance cranes and accessories, and just like your own body, regularly wash.
Take care of your investment, or you will be losing serious dollars when resale becomes a question. Even if minor issues become an annoyance to repair during the truck’s life cycle, make it a priority to maintain your service truck.
The hundreds of dollars to repair power steering will cost you thousands upon thousands when you’re trying to sling a truck that has no power steering, shoddy brakes, a half operational crane, cigarette burns on the interior floor, and… you get the picture. Service your service truck so it can serve you when it is time to resell.
Overall appearance of a service truck for sale can drastically affect a buying decision. You can never judge a book by its cover, but most people do anyway. Same goes for service trucks for sale and resale.
There will be signs of wear on any used service truck for sale, but you can proactively prevent reckless and unnecessary cosmetic issues by requiring operators to RESPECT THE TRUCK.
We all know when a service truck reaches the late mid-point of its life cycle in its fleet, it becomes known as the beater. Sometimes given undesirable nicknames, and treated as a second-class truck. Preventing this mindset towards your investment and establishing guidelines with employees can be preventative, as can housing service trucks indoors (if you have the space).
Chassis Wear and Condition
Don’t be the badass that always pushes your payload to the limit (or exceeding it). Sure, the truck may be able to handle an extra thousand pounds, but when you start making this acceptable and common, it will cost you dearly when it is time to resell your service truck.
Always be conscious of the payload limits and abide by them to extend the life of your chassis, and increase the cash in your pocket when it comes time to upgrade. Aluminum service truck bodies will give you an opportunity to increase payload, without abusing your chassis.
Typically, aluminum will not be a cost burden when purchasing a new truck, especially when considering the significantly increased lifetime of the chassis and profitability upon resale.
A service truck is an investment, and it should be treated as such. Making conscious decisions when buying, and factoring eventual resale into that decision, will greatly affect your bottom line throughout the ENTIRE lifetime of the truck, until you part ways.
Keep these factors in mind when making your next personal or fleet purchase, and your bank account will be thankful. Super thankful.
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