Truck Buying Options – New or Used, Buy or Lease

Truck Buying Options – New or Used, Buy or Lease

The choices are many when it comes to buying a new commercial truck, but the options may be fewer as the prices of new and used vehicles continue to climb. Manufacturers are blaming the price increases on the inflation of the cost of materials as well as government safety and clean air standards, and regulations.

New or Used

Purchasing a new vehicle may certainly seem like the best option. You know everything about that vehicle from its maiden voyage – its maintenance history, accident history, etc. But can your business currently afford the cost of a new truck?

Here are some additional facts to weigh into the new vs. used decision. While the cost of purchasing new is definitely higher, the cost of maintenance is much lower with a new truck. New trucks are equipped with the latest technology helping companies save on fuel and other operating costs, plus they include safety features that can help drivers avoid accidents.

Other considerations in the new vs. used decision are the number of miles the truck will be driven. A truck that will be relied upon heavily and will be putting on thousands of miles per year might best be purchased new. While a truck that is used less frequently and may sit idle for days or weeks at a time, might best be purchased used.

Buy or Lease

Large carriers may have the means to purchase new vehicles with cash, but most companies today finance their vehicles. There are certainly good reasons to finance your truck purchases. The number one benefit is keeping the company’s capital available. But what makes most sense when financing, a loan, or a lease?

Let’s look at leasing first. Leasing payments may actually be lower for a higher quality vehicle as they cover depreciation, rather than equity in the truck. Companies such as NationaLease offer regional and local sources of loans and leases, making availability of financed vehicles easy to secure.

In contrast to the lease, financing a commercial truck has the advantage that once you have paid the loan, you own it. The residual value belongs to the company and depreciation can be claimed annually.

The best choice is to review the options with your accountant. They may recommend one over the other depending upon your current corporate finances. In many cases, a healthy mix of new and used, leasing and financing make for a diverse portfolio within your fleet.

Why C&M Motors

C&M Motors is a locally owned and operated family business serving the greater San Diego area since 1982. With 2 locations to serve you (National City and Vista), we offer a more personalized experience and customized services to meet your business needs. New and used, leasing and financing, as well as service, rentals, maintenance, collision, fabrication, parts, and 24/7 emergency roadside assistance are all available at C&M Motors.

Give us a call to learn more.

C&M Motors Inc

www.cmmotorsinc.com

(800) 736-3443

 

Financing or Leasing a Box Truck

Financing or Leasing a Box Truck

 

If you are looking to acquire a box truck and are not in a position to pay cash, here are some helpful tips on how to get a box truck lease or financing.

Box truck leasing and commercial truck financing are quite different from traditional vehicle financing or leasing. Traditional loans are based on credit scores, revenue, as well as time in business to determine what amount your business is qualified to borrow.

With box truck leasing, the vehicle you decide to purchase becomes collateral for the lease. This limits the lender’s risk which in turn helps the purchaser qualify for the financing.

Below is a checklist of requirements for determining your eligibility:

Pre-approved financing

One of the best steps you can take toward deciding what and when to buy it so determine your eligibility by getting pre-approved for your box truck financing. C&M Motors can help you access your business history and credit to determine the range of financing you qualify for.

Factors that determine eligibility are:

·       Credit score

·       Time in Business

·       Down payment amount

Credit Health

When it comes time to purchase or lease that new box truck, your credit health is a major factor. Applying to many promising credit offers can generate a lot of inquiries on your credit report. Each hard inquiry can drop your credit rating a full 10 points. Applying to a handful of places, rather than dealing with one trusted dealership, can drop your score by an entire credit grade. Not recommended.

Here are a few other activities to be mindful of that can affect your credit score:

·       Other credit accounts – type, age, amount owed

·       Credit utilization percentage (i.e., how much of your credit you’re currently using)

·       Payment history

·       Total debt owed

·       Bankruptcies

Why C&M Motors

C&M Motors is a locally owned and operated family business serving the greater San Diego area since 1982. With 2 locations to serve you (National City and Vista), we offer a more personalized experience and customized services to meet your business needs. We can help you with all your financing needs. One hard inquiry and no loss of credit score grade.

Sales, service, rentals, maintenance, collision, fabrication, parts, and 24/7 emergency roadside assistance are all available at C&M Motors.

Give us a call to learn more.

C&M Motors Inc

www.cmmotorsinc.com

(800) 736-3443

 

Commercial Truck Repair: How to Choose a Reliable Service

Commercial Truck Repair: How to Choose a Reliable Service

If you’re the owner of a commercial truck, then you know that it’s important to find a reliable repair service. When your truck is out of commission, it can mean big losses for your business. That’s why it’s important to do your research before choosing a service. Here are some tips for how to choose a reliable commercial truck repair service.

Check the Services Offered

When you’re looking for a truck repair service, the first thing you should do is inquire about the services they offer. Not all shops will be able to provide the same services. For example, some may specialize in engine repairs while others may not. Make sure that the shop you choose offers the services that you need.

Check if They’re Certified Mechanics

It’s also important to make sure that the mechanics at the truck repair shop are certified. This will give you peace of mind knowing that they have the skills and knowledge necessary to properly fix your truck.

Find a Shop Near You

Another thing to consider is whether or not there’s a shop near you. It’s always more convenient to take your truck to a shop that’s close by. That way, you don’t have to waste time and money on transportation costs.

Ask About Pricing

Always be sure to ask about pricing. This is important because you need to know if the prices are fair and reasonable. You also need to know if there are any hidden costs that you should be aware of.

Ask About Parts

Another thing you should ask about is the parts that they use. It’s important to make sure that they use high-quality parts so that your truck will be fixed properly. You also want to inquire about the warranties for parts.

Check Recommendations and Reviews

Finally, it’s a good idea to check recommendations and reviews before choosing a commercial truck repair service. This way, you can get an idea of what others have thought about the services they’ve received. You can also find out if there are any red flags that you should be aware of.

Choose the Industry Experts at C&M Motors for Your Commercial Truck Repair!

Our certified mechanics have the skills and knowledge necessary to properly handle your commercial truck repair. We have 2 convenient locations to serve you in the greater San Diego area, National City and Vista. We offer a wide range of services, including engine repairs, and we only use high-quality parts.

We understand how important it is for you to get back on the road. Contact us today to get a quote!

The Top 5 Qualities to Look for When Purchasing a Refrigerated Truck

The Top 5 Qualities to Look for When Purchasing a Refrigerated Truck

If you are shopping for commercial refrigerated trucks for sale, there are a few things you will want to take into consideration. You don’t want to buy the wrong truck for the wrong price and get into issues with capacity or temperature. Plus, how do you look for the hidden things that might be wrong with the truck? Let’s review the top 5 qualities to look for when purchasing a refrigerated truck.

The Overall Fuel Efficiency

The first thing you want to consider is the overall fuel efficiency of the truck. You don’t want a truck that is going to guzzle gas, especially if you plan on using it for long-distance hauling. Even if the truck is a bit older, as long as it has good fuel efficiency, it’s worth considering.

This can save you money in the long run, even if the price is higher upfront.

The Age and Condition of the Truck

This is huge because you don’t want to buy a truck that is going to have a lot of problems. It’s important to inspect the truck thoroughly before you purchase it. Check for things like rust, dents, and scratches. If you can, take it for a test drive. This will give you a feel for how the truck drives and if there are any issues with it.

The Size of the Truck

The size of the truck is important because you need to make sure it’s big enough for what you plan on using it for. If you are hauling large items, you will need a larger truck. If you are only hauling smaller items, a smaller truck will suffice. You should test the volume of the truck a bit, but you should also test how many items you can fit in the truck.

The Price of the Truck

This is probably the most important thing to consider when purchasing a refrigerated truck. You don’t want to overspend on a truck that isn’t worth it, but you also don’t want to under-budget and end up with a vehicle that does not completely meet your needs. Do your research ahead of time and have a price range in mind before you start shopping. This will help you narrow down your options and find the right truck for the right price.

The Temperature of the Truck

This is important because you need to make sure the truck can maintain the temperature you need it to. If you are transporting perishable items, you will need a truck that can keep the items cold. Test the temperature of the truck before you purchase it to make sure it meets your needs.

Find the Best Commercial Refrigerated Trucks for Sale With C&M Motors!

At C&M Motors, we understand exactly what makes a great truck. Before you look anywhere else, check out the commercial refrigerated trucks for sale with C&M Motors. Get a quote today!

Avoid These Mistakes When Looking at Hino Box Trucks for Sale

Avoid These Mistakes When Looking at Hino Box Trucks for Sale

Hino trucks are well known for their excellent quality and reliability, with superlative customer satisfaction ratings, making them a popular option in box trucks around the world.  However, not every Hino truck is right for every job.  Doing careful thought and research before buying Hino box trucks for sale will help ensure you see maximum returns on your investment.

C&M Motors has been operating since 1982, and we’ve seen a lot of mistakes happen frequently.  Avoid these missteps to make the best purchase!

Five Mistakes To Avoid When Buying Hino Box Trucks

1 – Trying to make a ‘one size fits all’ purchase

You’ll rarely make a good purchase if you try to find a truck that can do “everything” because it won’t be well-suited to any particular job.  Over-sized trucks will waste money, while under-sized trucks will be over-used and also at risk of exceeding weight limits.

You’ll do much better by thinking about usage cases and buying trucks to fit specific needs, rather than trying to get a jack-of-all-trades.

2 – Choosing an underweight chassis

It’s tempting to choose a lightweight truck since that lowers aggregate weight and theoretically allows for more cargo.  However, this can easily lead to situations where the total cargo weight exceeds what is allowable for the chassis.  Thought must be given not just to how much space will be needed, but how heavy the cargo will be.

3 – Mismatched chassis and box lengths

Too often, we see trucks where the chassis wasn’t long enough for the box attached to it, leading to poor weight distribution across the length.  Typically, this means extra weight on the rear wheels and less on the front.  This can cause significant tire wear, or in worst cases, break per-axle weight regulations.

4 – The box is too high

It’s easy to overlook height when purchasing a box truck – until you get it back to the warehouse and discover it’s too tall for your dock.  Always know the measurements of your facilities and be certain the truck will fit.

5 – Improper lighting

Will your truck be mostly driven at night, or during the day?  If it’s going to be making nighttime runs, be sure to invest in extra lighting inside and out.  On the other hand, if it’s going to only operate during the day, your lighting requirements will be less – and a sunroof could lower them further.

C&M Motors wants to see you pick the perfect Hino box trucks for sale!  Click here to contact us if you have questions.

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