Start your journey to becoming an owner-operator with your first truck. Whether you’ve been in the industry for years or just received your CDL, use these tips to invest in the equipment you need to own your own transportation vehicle.
Compare New vs. Used Trucks
Jumping into the wrong purchase can have serious effects on your first year as an owner-operator. Explore the reasons to choose either a new or used truck for your first investment. Don’t make a quick purchase that you may regret later. Compare insurance coverages for both new and used trucks to help make the best decision for your situation.
There’s nothing quite like driving a new vehicle. Just like your personal vehicle, a new truck comes with warranties, modern conveniences and peace of mind. Be aware that you’ll need a considerably higher upfront investment for a new semi truck.
Buying used may be a more cost-effective solution for your first investment. Use caution, since potential breakdowns can be frustrating and time consuming. Work with a dealer and mechanic to be sure you know what you’re getting into.
Check the Weight Rating
The trucking industry is a diverse field, so you may have many different types of loads and weight ratings. Always check the maximum weight rating of a vehicle before purchasing it. Some heavy loads can reach over 80,000 pounds, which require an overpowered engine. Trucks with smaller engines and weight ratings are considerably more affordable, so it’s important to only invest in the truck you need.
Purchase Affordable Owner-Operator Insurance
Stay safe as a small business owner with the right insurance policy. Owner-operators face additional risks and liabilities, so work with a quality insurance agent to receive the coverage you need. Contact us at Rev Insurance to request a quote. Prepare for a thriving career in the transportation industry with the right truck and personalized insurance.