Step 4 - Compare the costs

Think about ‘whole life’ costs

image of calculator and newspaperOnce you have worked out what type of truck is best for your operation along with the components it should have, the next step is to weigh up the costs.

Remember that the up front purchase cost might not be the biggest contributor to the cost of the truck over its whole life. Think about the other costs you will have to pay throughout its life. Operational and maintenance costs are important so ask the dealer how often you should service your truck and how much a standard service will cost.

It's hard to get a good estimate of the amount you can expect to get for your old truck when you sell it, but you can get an idea by looking at used truck prices for similar makes and models. It is also a good idea to get a couple of insurance quotes for the vehicles you are thinking about buying.

Try to compare the costs of at least two different makes or models before making a decision. After you have costed one option, it might be useful to go to another dealer and have them guide you through the truck selection process again just to see how this compares with the one specified by the first dealer. If dealers come up with different options, ask them why.

Before you move to the next step, make sure you:

  • Develop a short list of options and compare costs between them
  • Consider likely maintenance costs and potential resale values