I have talked to several people that admit their truck is getting older and they know they need to upgrade soon. The problem most of them are having is that they can't seem to make the numbers work. The price of new trucks is higher than it was and the rates have not seen the same type of increase. Everyone's situation is different but there are some constant's that everyone should put a pencil to.
First, you should look at depreciation. Are you still able to write off your truck note? Next is maintenance, is your truck costing you more every month in repairs and down-time than what a newer truck's payment would be? Finally, what are your future plans? Are you planning to stay in the business, and if so for how long?
No one likes a big truck payment! However, trucks will continue to increase in price year over year as the cost of raw materials continues to rise. I realize this is a tough situation for many of you out there and I hope you all end up doing what is right for you and your business.
Bobby Snyder
Fyda Freightliner Columbus
800-589-3932 ext. 1211
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