Part One In A Series Of Truck Buying Tips

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There are almost as many places to buy a used truck as there are used trucks for sale!

Private Sales,

This could be a great option if you know the person selling the truck. If you do not know them, You may be subject to several issues like a truck with liens on it that someone will be repossessing some time in the future, even though you paid the seller. Will a private seller disclose all he knows about the truck, possibly not as he is looking at a one time sale. Is it certified, if not it is a sure sign to walk as it is going to be expensive.
The biggest issue with a private sale purchase is the financing. This is the first place to start as it is usually the deal breaker since very few equipment lenders or finance companies will finance a private sale for most or all of the reasons above.

Auctions,

This could be the deal of a life time or a nightmare. Why is it there? I talked to a guy one time that sent his truck to auction since he had just done an engine repair himself. (J.B. weld on the crack in the block) That could be the nightmare deal.

Unregistered truck dealer,

This is the new breed of dealers out there with no OMVIC Dealer Licence or licenced sales people, like “Flip This House”. A few cosmetic repairs and flip it out to an unsuspecting customer.

OMVIC (Ontario Motor Vehicle Industry Counsel) registered dealer.

This is another option as this type of dealer has made an investment and commitment to the industry by having a legal conforming place of business, by going through an extensive application process and becoming a registered dealer with registered staff. These dealers, although not all are perfect are ruled with a code of ethics by OMVIC and are subject to inspections to ensure ongoing compliance with the Motor Vehicle Dealers Act (MVDA). Also a disciplinary process is used to enforce compliance with code of ethics. For info, see  www.omvic.ca  Typically a registered dealer is not in business for a one time quick sale but relies on good business practices and satisfied customers for the future.

Part Two- Truck Buying Tips

Questions to Ask.

Where did the truck come from-owner op, fleet truck, repo, auction. They should be able to give you an honest answer. You may also want to ask what the truck did as some jobs are very hard on equipmnet. Is the truck certified and E-tested, if not then WHY! If it is certified what is the inspection process, are the wheels pulled to check brakes and measure drums or do they just try to look through that tiny inspection hole. Do they check the A/C as this can also be very expensive later. Don’t overlook the small things.

Owner operators vs fleet trucks.

There is a misconception that owner operator trucks are better maintained but that is not always the case as a good fleet is on a regular maintenance program where an owner operator may put off a service until his next pay or later. Some fleet trucks are very basic but still serve a purpose. For some, other fleets have very nice equipment that may be just as good or better than an owner operators truck. Do your homework and buy from someone you feel comfortable with and trust.

Posted on Tuesday, March 30th, 2010 at 7:20 pm
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