Dependable tow trucks are the cornerstone of a successful repo business, so whether you’re growing your fleet, replacing a truck, or just starting out, it’s vital you invest in the right tow truck to meet your needs.
This can be a daunting task, however. While you want to make sure you get a good price, it’s also imperative you get a good truck that’s durable and high-performing. After all, you don’t want to be going through this process again any time soon! So, what can you expect to spend on a repo truck you can trust? Here’s a breakdown of repo truck options and costs:
The Cost of a New Repo Truck
There are several different types of tow trucks you can purchase, ranging from a flatbed that the entire car sits on for safe transport, to an integrated tow truck used for heavy-duty towing (probably more than you need), to the classic, versatile truck fitted with a wheel lift. Each of these trucks features specialized equipment, which is why they also feature a pretty sizable price tag.
Obviously, how much you pay depends on the type of vehicle you choose, but in general, you’re looking at spending at least $90,000 on a new repo truck that checks off everything you need. If that’s a little more than you planned to save, that’s okay. You don’t have to skimp on quality to save. If you don’t have the funds for a shiny, brand new tow truck, you do have a couple of other options.
Ways to Save on Repo Truck Costs
When you run a repo business, you always have to watch your bottomline, so if a new truck doesn’t fit in your budget, you may need to consider a different approach.
One alternative is purchasing a used tow truck. If you go this route, you need to make sure the truck is in good condition, still has plenty of miles left in the tank, and that you’re purchasing the truck from a reputable seller you can trust.
Though you will pay less than buying new, keep in mind that you will likely have to fork out money for repairs due to wear and tear, and the truck might not last long before it needs to be replaced. A better option?
Investing in a Slide-In Wheel Lift!
Wheel lifts make it possible to convert a regular truck into a repo truck quickly and easily, which makes them a great choice for any repo business owner or manager looking for an affordable yet reliable towing option.
Since repo work mostly involves light-duty towing, you can shop around for a good deal on a pickup truck without paying top dollar for the specialized equipment of a wrecker. Then, invest in a slide-in wheel lift and still pay less than a new tow truck’s sticker price.
The low upfront cost of a slide-in wheel lift can be recouped quickly, too, since their ease of use and efficiency means you can fit more jobs into each day. So, not only will you save money on the cost of a repo truck, but you’ll bring in more money for your business!
As your business grows and your repo fleet expands, investments in additional wheel lifts can help you complete contracts, faster — and still cost less and offer more versatility purchasing standard wreckers.
The Cost of a Repo Truck Doesn’t Have to Break Your Budget
If you’re looking for an affordable way to expand your repo fleet, the Minute Man XD Slide-in Wheel lift is an ideal option. With its long-lasting durability, budget-friendly maintenance, and relatively low upfront cost, the Minute Man can handle any light-duty towing job you throw at it for years to come, at a price you can afford. Want to learn more? Before you purchase your next repo truck, connect with our expert team by dialing 877-593-6959 or by using our convenient online contact form today.
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