708-467-7181     16425 Van Dam Rd., South Holland, IL 60473

 

  Buying a used Class 8 truck or other commercial rig is a smart way for owner-operators to save a lot of money in the early days of their business. While newer models are great for mileage and compliance, they often carry the unfortunate downside of a six-figure price tag. Your truck is the most important investment you'll make in your business, so it's wise to talk to us with key considerations in mind. We advise to call our main office and our experts will be able to help you.

Some things to consider why looking for the used semi truck:

Transmission

Most operators learned to drive on a truck with a manual transmission. A manual transmission is more convenient for the driver, but there are automatic transmission semi trucks available. If you're in the small category of people who have learned on an automatic, you will want to stick with that kind of transmission.

If you opt for a manual transmission, there are more variables to consider. Find out how many speeds the transmission offers. The higher the speed, the more versatility you'll have when driving. If you're new to driving a semi truck, you may not want to choose a higher number of gears. The options afforded by the higher speed count is nice, but it can be difficult to operate if you're not used to a lower-speed transmission already. Also, unless you're hauling very heavy loads through the mountains, you probably won't need the higher speeds.

 

Depreciation
When you buy a brand-new semi, it depreciates in value as soon as you drive it off the dealer, just as a new car does. And most of the depreciation that follows happens within the first months.
When you buy a used truck that's been "around the block" for several years, depreciation no longer becomes a real issue, making your investment in a used truck much more solid. In fact, used models hold their value as time goes on, more so than a new truck does.
This becomes a huge advantage when it comes time to sell, particularly if you have to sell soon after buying; you won't take as much of a monetary loss as you would when trying to sell a new truck.  
 

 

Thinking about pushing your buying decisions into 2020? Consider the benefits of receiving this year’s bonus tax depreciation if you purchase a used semi truck before year-end.
The Tax Cuts and Jobs Act, signed on December 22, 2017, greatly enhanced bonus depreciation opportunities available to businesses in the market to buy equipment. In 2019, taxpayers can elect a 100 percent bonus depreciation deduction under either IRC Section 179 or 168(k).

Bonus Depreciation
When your business typically purchases equipment items, it can write those items off a little at a time through the depreciation. There were two enhancements under 168(k) that were not previously available or within Section 179, which are:
There is no dollar limit on the amount of property you can purchase that can qualify for the bonus depreciation.
This deduction applies to both new and used equipment. We have a great selection of used semi trucks.