fbpx

5 tips on how to make your truck resellable

Published on December 1st, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors



Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

At Savvy, our mission is to empower you to make informed financial choices. While we maintain stringent editorial standards, this article may include mentions of products offered by our partners. Here’s how we generate income.

In this article

Give your truck some Trucking Loving Care (TLC)

When you first buy your truck that is fresh out the box with gleaming steal you take measure to make it stay in mint condition. However, once it has spent a few years hard at work these maintenance measures slips away. Give your truck some TLC, which will see you reaping the rewards in terms of your ROI. Choose to invest in new parts that will see it running at its prime without compromising your business. You will also reap the benefits when it comes to reselling it due to the constant upkeeping of it. Bring your truck into the 21st century with technology There have been a range of upgrades to safety technology that trucks can invest in. Although you might not see immediate returns on your investment, it is a worthwhile investment that can save you millions from accidents and employee injuries. A recent report by the Department of Infrastructure and Regional Development showed that 216 people died from 197 fatal crashes that involved heavy trucks and buses on Australian roads. An accident caused by your truck fleet can result in an extensive amount of money being lost in terms of repairs to damages and pay outs.

Adding a new edition to the family can be costly

Buying a new truck that you think can increase productivity in your business can be costly. In Australia the average fleet size ranges from 75 to 100 vehicles. It’s advisable that instead of you using this money to buy a new truck its best to invest in good quality parts that can increase the longevity of your fleet. The one question that can save you from buying another edition to your fleet is to ask yourself if you really need it. Take time to go through your fleet and see how many trucks you have that are doing the same job. If you hardly make use of some, know when it is time to let go. That way you can generate more income.

Invest in equipment that will take care of your truck

Taking out a loan to buy equipment that will protect or better aid your commercial truck is a must. Insuring your vehicles will not only increase the lifespan of your truck, but it will also make it a perfect when the time for reselling it comes. Premature wear and tear can be costly to any businesses ROI, as it becomes an unexpected cost.

Handle with care

Commercial trucks are soft giants in the sense that if you do not handle them with care they break down quickly. The way a truck is handled on a road accounts for whether you will lose or gain money. Taking extra precaution with your truck that is travelling in hazardous conditions such as bad weather, slippery roads, and potholes can prevent premature wear and tear. The general rule of thumb is that if you take care of your commercial truck fleet, it will take care of you.

Did you find this page helpful?

Yes
No
Thanks for your feedback!

This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.

Approval for commercial loans is always subject to our lender’s terms, conditions and qualification criteria. Lenders will undertake a credit check in line with responsible lending obligations to help determine whether you’re in a position to take on the loan you’re applying for.

The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well as others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.

In this article

Share this article

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on pinterest

Looking for a commercial loan quote?

Compare with Savvy and save on your next commercial loan.

* Terms and conditions and lending criteria apply.

Smart money saving tips

Subscribe to our newsletter.

By subscribing you agree to our privacy policy

Related articles

Looking for a commercial loan?

All equipment, aircraft, technology, agriculture, plant & machinery and truck finance. See how you can compare and save with us.

We'd love to chat, how can we help?

By clicking "Submit", you agree to be contacted by a Savvy Agency Owner and to receive communications from Savvy which you can unsubscribe from at any time. Read our Privacy Policy.