There’s a reason why owning your own home and vehicle are often used as hallmarks of success. Buying either one in the first place is a big expense, and you’ll still be paying for annual upkeep (for a house), or insurance, gas, and maintenance and repairs (for a vehicle). The biggest expense to buying a vehicle, though, is its depreciation in value.
You’ll hardly find anyone who would buy a used car for the same amount you paid for it, even if it’s only a year old. Unfortunately, this happens not just with private vehicles, but with semi-trucks and other commercial vehicles, too. So if you own and operate a beverage truck and are considering selling it, how can you keep it from depreciating in value?
Check that the Truck has A Reputation for Maintaining Its Value
When it comes to resale value, some vehicle manufacturers consistently rank at the top, so buying a beverage truck made by one of those manufacturers will help ensure that it doesn’t depreciate in value too much between when you first buy it and when you decide to sell it. Knowing the vehicle will depreciate slower than others can also be a good bargaining chip when you negotiate with potential buyers.
Maintain Your Beverage Truck
Whether you bought the truck new or used, keeping it in good condition the whole time you’ve owned it will work in your favor when you decide to sell it. Vehicles that are in great working condition no matter their age are more likely to retain their value, so you can list a higher asking price and no one will bat an eye. Just be sure to save the records of service, since these will help you prove you kept up with the manufacturer’s recommended service schedule.
Limit the Distance You Drive
On average, driving more than 15,000 miles a year will depreciate the truck’s value faster, while driving less than that will have the opposite effect. It’s understandable to want to expand your area when you have a beverage truck business, but limiting how far you drive and how often can help you limit the loss of value. Knowing that, it’s just a matter of weighing those two needs against each other and finding a compromise that lets you slow the depreciation without cutting out any potential income from the business.
Sell Your Beverage Truck Privately
If you want to make as much as you can when selling your truck, don’t immediately bring it to a dealership. When a middleman is involved, some of your earnings from the sale will go to them, or they could lowball the price when showing the truck to potential buyers. That’s why making the effort to advertise your truck and show it to possible buyers will practically ensure a higher price.
Before you do so, though, make sure you clean the truck well and have any needed repairs done, as well as organize any maintenance records so you can show that the truck was maintained well.
As you can see, the above tips can only help you minimize a vehicle’s depreciation; in fact, no vehicle owner can completely avoid that. Obviously, though, a small loss is better than a big one, and even better than not making a sale at all. If you’re looking for a beverage truck for sale for any reason, or need more information on selling a used vehicle, visit this link to get started.
