What should I ask about a junk removal truck’s age and breakdown history?
Ask for the truck’s age, mileage, maintenance records and repair invoices, then ask how often it has been off the road and what that cost in lost jobs. Have an independent mechanic inspect it, and ask what replacement would involve.
Start with the paperwork: purchase date, odometer reading, service history and every repair invoice. Look for a steady maintenance pattern, and for repeat problems with the engine, transmission, brakes, hoist or body. Ask about breakdowns on the road and how the owner coped, such as renting a replacement or turning jobs away.
Then bring in a mechanic you trust, not one chosen by the seller. Ask them to inspect the frame, the box, the lifting gear and the tires, and to tell you which repairs are likely to come soon. Their report can also give you a negotiating point later, and you can use it in planning.
Next, ask how the truck is used. Daily heavy loads, tight urban routes and long drives wear it differently. Ask whether the owner has a backup plan, and whether the truck is owned outright or financed, with a balance that needs to be cleared at closing. Confirm that the truck will transfer cleanly. Finally, think ahead. If the truck needs replacing soon, ask what a replacement would cost you in time and cash, and whether financing is an option. Plan for the possibility that it will need attention during your first months.
Key takeaways
- Collect the truck’s service history, repair invoices and records of time off the road.
- Arrange an independent mechanic’s inspection before you commit.
- Check ownership, any financing balance and plans for the next replacement.
Related reading
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentEquipment valuation: How to do it
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 03Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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