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With rapidly burgeoning demand, Singapore’s used car market has been becoming increasingly prominent over the years, and this trend is likely to continue over the next few years. For some, looking for a used vehicle for commercial purposes may be the most appropriate decision in balancing between utility and cost, and fortunately when it comes to buying a 2nd hand commercial vehicle Singapore business owners truly have many options to choose from. However, it can also be daunting for many first-time second hand commercial vehicle buyers, who may be unsure of how to navigate this seemingly intimidating market.
This article shall briefly discuss some of the various pointers to keep in mind when looking for a used commercial vehicle for business oriented needs, while addressing some potential concerns and questions about how business owners can capitalise on the used commercial vehicle market to supplement and enhance their business operations.
1. Understanding the business’ requirements
In sourcing for a viable second commercial vehicle, it is extremely crucial for businesses to be clear about the specific type of vehicles which they may be looking at, as well as how said vehicle will be able to augment and improve the operability of their current businesses.
With the plethora of second hand commercial vehicles on sale in today’s day and age, business owners stand to benefit from numerous options to choose from, but must ensure that the vehicle they are looking at is appropriate to the specific business and its needs. For example, choosing between a used lorry for sale in Singapore or a used commercial van for sale in Singapore will depend on many considerations: if a business needs to transport heavier loads on a more frequent basis, the lorry could likely be a better option for the company; but if manoeuvrability is important for the business, then they might find a van to be more suitable for their quotidian requirements.
As shown below, Size and capacity, budget constraints and the specific features of the vehicle are all important considerations which businesses should take into account before deciding on a model.
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Consideration |
Why it matters |
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Size and Capacity |
Companies could opt for larger passenger vehicles with more seating space if ferrying clients and employees from place to place is a huge priority. On the other hand, if transporting heavier and bulkier objects is central to business operations, companies could instead opt for vans or trucks with a larger capacity. |
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Budget Constraints |
All business purchases need to be made in correspondence to the company’s overall budget, and a second-hand commercial vehicle is no exception. It is important to ensure that both the purchase price and operating costs of the vehicle are taken into consideration before a decision is made. |
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Feature requirements |
If specific features are needed to supplement the business (such as navigation tools or other technological equipment), it would be more appropriate to choose a second-hand commercial vehicle which already comes equipped with such features. |
2. Understanding the market
Market trends are constantly changing, and this is also true for the second hand commercial vehicle market. Businesses would therefore greatly benefit from keeping an eye on the market for the particular vehicle types they are interested in, and understanding the temporal variations in the availability and prices of said vehicles.
Additionally, government policies can also substantially affect the pricing and availability of such second hand commercial vehicles. Some policies such as COE changes and environmental laws and incentives can have a sizable impact on a business’ decision when it comes to purchasing a commercial vehicle, so staying on top of these policies and regulations can be hugely beneficial in making the right purchasing decisions at the right time.
3. Sourcing for viable options
In today’s interconnected world, prospective second hand commercial vehicle buyers have numerous ways to find a vehicle which meets their needs from well-maintained multi purpose vehicles to cheap used trucks for sale. It is important to first do sufficient research to determine the exact models and vehicle types which would bring the most benefit to your business.
Additionally, it is always recommended for prospective buyers to take their preferred second hand commercial vehicle for a trial drive to get a better understanding of the vehicle’s performance and drivability. Factors such as overall drivability and comfort can vary from person to person due to matters of subjectivity, so it will be up to the driver themselves to decide on whether said vehicle will be able to integrate well into the daily operations of the business.
4. Consulting a trusted car dealer
Car dealers are an often overlooked aspect of the second hand commercial vehicle purchasing process. It is extremely important for businesses and prospective buyers to look for dealers with a tried and tested track record and favourable reputation in the used vehicles market, so as to ensure that the purchase and subsequent transactions are being overseen by trusted and highly reputable dealers who have a wealth of experience in the field.Aside from facilitating the purchase and providing a seamless experience, experienced and trustworthy car dealers will also be able to provide detailed information on the vehicle’s overall history and usage, its maintenance and repair records, as well as any notable pointers from its previous ownership.
5. Accounting for post-purchase considerations
After the purchase of a second hand commercial vehicle, business owners should still keep in mind that there are still some considerations which should be taken into account, so as to ensure a more seamless and hassle-free driving journey:
- Regular Maintenance– regular maintenance operations are recommended to keep any vehicle in an optimal condition, and this goes for second hand commercial vehicles too. Business owners should try to follow the manufacturer’s service and repair suggestions to preserve the operability of the vehicle for as long as possible.
- Insurance Coverage – insurance is paramount for any vehicle on the road, and it is often a good idea to find a vehicle insurance plan which is tailored to the requirements and needs of the business, taking into account the extent of coverage and potential risks which may be a part of the business.
- Business Vehicle Fleet Handling – if a business has more than one vehicle, keeping track of each vehicle and coming up with various ways to reduce operational costs and achieve economies of scale would greatly benefit in the long run.
Conclusion
To sum up, when buying a 2nd hand commercial vehicle Singapore business owners can follow these aforementioned steps for a smoother and hassle-free experience. From having an innate understanding of the business’ requirements to consulting a trustworthy and experienced second hand car dealer, these are just some of the pointers and recommendations which can help businesses and companies who are looking to increase their efficiency and operability with the addition of a second hand commercial vehicle.