Operating a business that includes a fleet of trucks means that you have to be doing very well if you are going to keep all your trucks on the road. However, even trucks have to be replaced sometime. If you have to replace several trucks from your fleet all at once, and you cannot financially do it, here are some solutions that can help.
Buy Used Freightliner Trucks
Nobody ever said you had to replace your trucks with brand-new ones. Used trucks will do just as nicely, and they are already broken in and road-ready. If you have to replace ten trucks from your fleet, that is easily two or three million dollars to buy brand-new ones. You can cut that cost by a third to a half by buying used semi trucks instead.
Borrow Trucks from Other Companies (or Rent Them Short-Term)
If you cannot swing the purchase cost for trucks, even used ones, for a few more weeks, borrow trucks from other companies (if possible). Otherwise, you could rent trucks short-term or hire freelance drivers who own their own trucks. Do what you can to cut corners, save money, and get to the point where you can buy the trucks you need.
Fix Less Costly Repairs to Some Trucks
Look at it this way; if some of the trucks you want to dump have repair needs that cost less than a used truck, you can fix these trucks. Sure, the repair expense may not seem worth it, but if the trucks operate just long enough to buy other trucks, it is worth it. Additionally, you may even be able to trade the old, worn out trucks for a price reduction on the next set of trucks. Thus, repairing them for the present time doubles their financial value.
Reuse and Recycle EVERYTHING
Do what you can to reuse and recycle everything. Every scrap of paper, every pen with a little ink left, every nub of a pencil--use it. It may seem ridiculous, but if you do this, you will not have to buy a lot of extra office supplies this coming year. If you can get money out of recycling something, such as salvaging an old truck you were going to get rid of anyway, do that too. Commercial fleet vehicles like yours can give you a lot more bang for your buck if you salvage them then sell them because of the weight of the metal involved.
Hold off on Hiring New Drivers
Trucks are more vital to your operations than the drivers. That statement may seem cold, but the fact is, you cannot hire drivers for trucks you do not have. A hiring freeze can always thaw when you finally have enough trucks to go around.
Shut Down the Business During Really Slow Periods
Depending what your business does, you may know of a couple periods in the year when business is extremely slow. You could shut down during these times, providing service only to your most loyal customers. This reduces the number of trucks on the road and the number of drivers you would have to pay. It also eliminates office operation expenses, such as lights, gas, etc. The only downside to this solution is that you may miss out on gaining new clients that have been referred to you by your current clients.
Avoid Opening New Lines of Credit
As desperately as you may want to get those trucks now, avoid opening new lines of credit. It is tempting, but you could be kicking yourself later. Then the inexpensive used trucks you bought on credit will end up costing you more than the price of the new trucks.
For more information, contact companies like Arrow Truck Sales.
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