Becoming a Successful Owner/Operator Part 7: Buying a Truck
August 8, 2011
TORONTO, Ont. - Buying a truck is generally one of the most exciting steps for a new or existing owner/operator, but it's also one of the most important choices an owner/operator will make, Ray Haight explains in Part 7 of Becoming a...
TORONTO, Ont. – Buying a truck is generally one of the most exciting steps for a new or existing owner/operator, but it’s also one of the most important choices an owner/operator will make, Ray Haight explains in Part 7 of Becoming a Successful Owner/Operator: Buying a Truck.
Haight, CEO of ATBS Canada, urges new owner/operators to start with a used truck, noting “the majority of the depreciation happens in the first year.”
New owner/operators who find the lifestyle is not for them will have a difficult time getting out of a new truck without taking a considerable loss, Haight explained.
“If you buy a truck that’s two or three years old, you can sell that truck if it’s not for you. But try getting out of a four- or five-year lease. The payout on that lease is going to be very large,” he warned.
Haight said there are plenty of options for used truck buyers and the spec’ing process can be just as detailed as when shopping for a new vehicle.
“Spec’ a used truck exactly as you would a brand new one,” he says. “You don’t have to settle, there are enough used trucks on the market. Be patient, that truck’s out there, you’ll find it.”
He encourages owner/operators to speak to the carrier they plan to work for and discuss which spec’s work best in their applications.
Haight also urged owner/operators to make fuel mileage a priority when choosing a truck.
“The best option that’s out there is the one that’s going to get the most MPGs,” he insists.
Becoming a Successful Owner/Operator is a 10-part video series sponsored by Michelin and available free of charge on Trucknews.com. Click here to watch the latest installment and check out previous episodes in the Videos page on Trucknews.com.
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