How to Get the Best Used Vehicles for Your Business or Fleet

Are you looking for the best used vehicles for your business or fleet? If so, there are several factors to consider, from choosing the right vehicle type for your needs to balancing your budget restraints. The following guide will help you to make an informed decision so you can buy a top-quality used vehicle to suit your business needs. 

What Type of Vehicle Do You Need? 

Tradespeople rely heavily on their vehicle to conduct their everyday work. Depending on the type of trade they engage in, their needs may be very specific, so it is essential to invest in a vehicle that supports the work they do. 

For example, a construction worker may need a pick-up truck with a spacious bed to transport various construction materials. In contrast, a plumber might prefer a cargo van with ample storage for tools and equipment.

Balance Your Business Needs With Budget Constraints

What type of vehicle does your business need? From trucks and vans to SUVs and sedans, it’s essential to explore the market to find a vehicle that suits your needs. The Mercedes-Benz Sprinter, Ford Transit, and Ram ProMaster are all popular brands of cargo vans that are commonly used by tradespeople in Canada. However, buying a brand new van with a hefty price tag takes a considerable investment; businesses must also work within budgets, balancing costs with achieving operational efficiency. 

Repurpose An Entire Fleet With Affordability in Mind

If you are looking to replace or upgrade your entire fleet, it’s definitely worth considering used fleet vehicles. At Insta Auto Solutions, we can repurpose fleet vehicles and provide customization options to better suit your operations. We can also work with you to create a solution that fits your budget and unique business needs. 

Used vs. New Fleet Purchases

While used vehicles come with a less expensive and more attractive price tag, there may be reasons to consider purchasing a brand-new vehicle. New vehicles come with the latest technology that may provide benefits to the business. For example, if you are purchasing a new fleet of limousines for your company, it might be more beneficial to purchase new cars with all the fancy bells and whistles to extend a higher level of luxury to your clients. 

Local vs. Distance Usage

Some businesses operate locally, so they only need to travel within a certain area. For this type of usage, it is best to consider fuel efficiency and reliability when choosing a vehicle. For businesses that use their vehicles for long-distance travel, comfort, amenities, and space are important factors when selecting a vehicle. As an example, individuals who live and work out of an RV and those who require transit vans to travel long distances need to prioritize comfort.

The Benefits of Buying a Used Business Vehicle 

When it comes to deciding whether to purchase a new or used vehicle, there are several factors to consider. 
 

Factor In the Costs of Depreciation

It is important to consider the cost of depreciation when purchasing a brand new vehicle. As soon as the new vehicle is driven off the lot, its value drops considerably. To avoid losing value, it may be wise to explore the option of buying a used vehicle.

Consider Affordability

In addition to eliminating the costs of depreciation, a used vehicle with a lower price tag is more affordable for your business. Even a vehicle that is a few years old can be significantly less expensive than a new one and still have warranties that are valid. The costs of financing will also be significantly less, saving you thousands of dollars in the long run.  

Save on Insurance Costs

Purchasing a second-hand vehicle could also help to reduce your insurance premiums.  Used cars tend to have a lower value, which is determined by the make, model, and year of the car, so any repairs and replacement costs due to damage are also lower. 

Inspect Before You Buy

It’s important that you thoroughly inspect used vehicles before you purchase them. Hire a trusted mechanic to conduct a pre-purchase inspection to identify any potential issues. You can also look for vehicles under the certified pre-owned program, as these vehicles typically undergo rigorous inspections and come with extended warranties for peace of mind. 

You can also check the vehicle history online by checking the Carfax report. All you need to access this report is the vehicle identification number, and you gain access to information including major accidents, any frame or structural damage, ownership history, service records, and odometer readings. 

How To Be Sure You Are Getting a Good Deal

It pays to do your research, so you know if you are getting a good deal. Take a look at similar vehicles online to find out the average price. You can also check Canadian Black Book’s Value Your Vehicle tool to find out the valuation. 

How to Find the Best Used Car Dealerships

When looking for used quality vehicles, it is important to look for a reputable car dealer. 

• Look at popular review sites, such as Google reviews, to find out how customers feel about the business. 

• Ask other business owners for referrals.

• Does the dealership have a large inventory of pre-owned vehicles? 

• Do the vehicles have a well-documented vehicle history report?

• Has the dealership conducted an extensive inspection of the vehicle to ensure quality?

• Does the dealership offer any warranties in case of problems? 

• Talk to the dealership to find out how experienced they are in arranging business loans.

• How is their customer service? Is the dealership helpful when answering your queries?

A dealership that’s transparent in all of these areas is keen not only to get your business, but also to have you return as a very satisfied client. 

How to Finance Used Business Vehicles

When you are looking to purchase new vehicles for your business, chances are that you will need to arrange financing too. At Insta Auto Solutions, we try to make the experience easy, by arranging financing for you. We work with several lenders and can help you get approved for a loan. If you’d like to start the loan approval process, you should gather the following information:

• Documentation listing the company’s history, current operations, and strategy

• A description of how the loan will help your business

• For larger loans, you may need to provide at least 2 years of business tax returns

• Cash flow statements

Lenders will want to know that you can repay the loan in agreement with the loan terms they offer. They will also do a credit check to ensure that you have no history of defaulting on your payments, and that you and your business are in good financial health.

The requirements for business auto financing loans are much more extensive than personal loans, so if you have questions regarding the process, give us a call! We’re always happy to help! 

The Importance of Building Good Credit

As a business owner looking to grow your business, your success depends on your ability to make thoughtful investments to achieve your business goals. In order to expand, you will likely require business loans to fund that expansion. 

It is important for business owners to be aware of actions that may impact their ability to get a loan or damage their credit rating: 

• Not paying your bills on time and missing payments will lower your credit score.

• If you don’t have enough sources of credit to show financial responsibility, your credit history will be limited.

When you have good credit it is much easier to get a loan with more favourable loan terms. You will benefit from lower interest rates, and lengthier repayment terms helping to spread the cost of the investment. 

Visit Insta Auto Solutions For Your Business Needs

At Insta Auto Solutions, we pride ourselves on providing our buyers with high-quality used trucks and cargo vans that undergo rigorous inspections before we bring them to our lot. We also offer several used car dealership financing options, such as bad credit car loans, to make it easy to secure your auto loan, whether you need one vehicle or 20. If you have specific business requirements and are having difficulty finding what you need, call our talented sales team. We can definitely help!