'Tis the Season: When Is the Best Time to Purchase a Commercial Vehicle?

For organizations that rely on transportation to do business—construction, delivery services, plumbing, towing, etc.—acquiring a new commercial vehicle represents a substantial investment. Knowing the best time of year to buy your commercial vehicle helps ensure you make the most of your investment.

Factors to Consider Before Buying A Commercial Vehicle

When determining the right time to buy a commercial vehicle, it’s important to consider more than just a single factor but use a combination of various elements.

Seasonality

Like many consumer products, there are high and low-volume seasons for purchasing commercial vehicles. The peak season for new commercial vehicle sales occurs from late Fall through mid-winter. The slow season for commercial vehicle purchases generally occurs during the summer months when most businesses are focused on core business activities rather than necessarily on purchasing new equipment (with caveats, of course). It is important to consider this timing when planning to acquire your commercial vehicles, as seasonality will affect both pricing and delivery delays.

Budget

Of course, the time to buy may heavily depend on your financial readiness. It's crucial to assess your budget before deciding when to purchase a commercial vehicle, but also important to consider different approaches to purchase, such as leasing, financing or other alternatives. It is also important to consider such opportunities as tax credits and possibly even EV or other alternative fuel incentives. Online research and asking your local dealership about available options may be helpful for your specific situation and can help build your future approach.

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Business Needs

Your current operational requirements can also define the best time to buy. As your existing fleet ages and maintenance costs are escalating, it might be best to buy sooner rather than later. Using a calculator to compare how offsetting the ongoing costs with the relative maintenance-free life of a new vehicle can show a great ROI.

Technology trends

Understanding trends in vehicle technology can provide insight into present and future options.

It’s important to stay up to date on these factors to better evaluate and decide on the best time to purchase your commercial vehicle. Some resources can be found on Comvoy.com, NTEA.com, OEM websites, and vocational associations

Best Time to Buy

New Commercial Vehicles

The benefits of purchasing new commercial vehicles always include low or no maintenance, new warranties, newer customization features for your specific business uses, and potentially better fuel efficiency. But when is the best time of the year to plan to buy these new vehicles?

For availability and choice, late Fall through mid-winter is often the best time to buy new commercial vehicles. Manufacturers are usually in full production mode, which helps ensure that your vehicle will be delivered in a timely manner. Your organization is probably planning its budget, and you may qualify for tax deductions if you buy a commercial vehicle during this period (particularly prior to year-end when looking at tax advantages).

Used Commercial Vehicles

Used vehicles can be popular when starting out a business or when a quick expansion is possible. Their lower price tag is partly due to how vehicles depreciate quickly the first few years. The flip side to the depreciation is the rough usage the vehicle may see during that time, and finding a reliable used commercial vehicle in acceptable condition can be a challenge. This is when a  trustworthy independent dealer proves indispensable.

The best time of the year to buy used commercial vehicles is generally in the early part of the year. Many larger companies have already upgraded their fleets in the last quarter of the year, so there might be an increased supply of used vehicles in the market, giving you a better selection to choose from, and lower demand for the supply, resulting in better prices.

Conclusion

The process of purchasing commercial vehicles involves careful planning and being aware of the various factors at play. Monitoring technological trends, assessing your needs and financial readiness, and understanding the impact of seasonality can make you better informed and ready to make important investments. Whether you're buying new or used vehicles, knowing the right timing and other influences can help maximize your savings and value for money.

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