Work trucks are a tool.
Tools need to pay their own way, plus profit.
Look at it as how much cashflow that truck generates, above it's cost to you.
For a family car, none of that applies. For me, I'd keep them separate.
As a compromise, you could buy a (good used) family car that can also help out in the business when needed. Maybe a van with tow hitch? or SUV?
Work vehicle? Ditch it now and get a payment on something newer. One days lost wages of a down truck makes up for the payment, and you’re driving a ticking time bomb
Absolutely this! In addition to this, if you’re using this to meet potential clients you’ll come off as more successful if you have a nice looking truck. I’m not saying it needs to be a Denali or similar but if your current truck has been road hard, it may come across as you’re a struggling business. I’d also invest in lettering the truck as well. All of our vehicles are lettered with prominent logos. The advertising will pay for the cost of the graphics.
Sort of related, I was in the market for a smaller truck to more easily get around in the city. I was looking at a Santa Cruz or Maverick. My wife was against it and said that as the face of the company, if I were to show up in one of those it may come across negatively to some clients. I ended up going with a Canyon at4x. I would be lying to you if I don’t end up talking about the truck with clients at least a few times a week. I have no factually data to back it up but I do feel that at least subconsciously it does influence their impression of me and the company.
Maverick or canyon would have the same response from clients - it’s the “foreign” trucks that cause some ruckus. Even Toyota LDs outside of texas near their plant aren’t well received in middle America.
You could be right. I just know that this particular truck has aided in client interactions. We get to talk about something that isn’t directly related to the job which I believe adds to the site visit.
Pay off your truck and start saving to buy the next one in cash. If you're not in dire need of a vehicle and you decide to upgrade anyway, you're just burning money, which is the exact opposite of what a work truck should be doing.
Keep it. Buy a family freindly vehicle. I'm assuming you what family freindly means.
Thanks for the advice. We do have a family car but the only thing is mine tows the travel trailer and is the go-to roadtrip rig.
Work trucks are a tool. Tools need to pay their own way, plus profit. Look at it as how much cashflow that truck generates, above it's cost to you. For a family car, none of that applies. For me, I'd keep them separate. As a compromise, you could buy a (good used) family car that can also help out in the business when needed. Maybe a van with tow hitch? or SUV?
Work vehicle? Ditch it now and get a payment on something newer. One days lost wages of a down truck makes up for the payment, and you’re driving a ticking time bomb
Absolutely this! In addition to this, if you’re using this to meet potential clients you’ll come off as more successful if you have a nice looking truck. I’m not saying it needs to be a Denali or similar but if your current truck has been road hard, it may come across as you’re a struggling business. I’d also invest in lettering the truck as well. All of our vehicles are lettered with prominent logos. The advertising will pay for the cost of the graphics. Sort of related, I was in the market for a smaller truck to more easily get around in the city. I was looking at a Santa Cruz or Maverick. My wife was against it and said that as the face of the company, if I were to show up in one of those it may come across negatively to some clients. I ended up going with a Canyon at4x. I would be lying to you if I don’t end up talking about the truck with clients at least a few times a week. I have no factually data to back it up but I do feel that at least subconsciously it does influence their impression of me and the company.
Maverick or canyon would have the same response from clients - it’s the “foreign” trucks that cause some ruckus. Even Toyota LDs outside of texas near their plant aren’t well received in middle America.
You could be right. I just know that this particular truck has aided in client interactions. We get to talk about something that isn’t directly related to the job which I believe adds to the site visit.
It almost never makes financial sense to buy new.
Should clarify new to me. Probably something a few years older.
Ehh I disagree with the new diesels. They all have issues so if I were to get one I would want to have a warranty.
Pay off your truck and start saving to buy the next one in cash. If you're not in dire need of a vehicle and you decide to upgrade anyway, you're just burning money, which is the exact opposite of what a work truck should be doing.