Partners in Business

| November 30, 2011

PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchase agreements often require an initial security escrow of $1,000 to cover expenses the lessee may fail to pay. Maintenance escrows, which are funded throughout the length of the ...

| November 17, 2011

PIB TIP: ASSESS LEASE-PURCHASE PLANS. Calculating the total cost of a truck under a carrier’s lease-purchase plan can be difficult. Beyond knowing the monthly lease payment, make sure you know the total purchase price. The ...

| November 09, 2011

PIB TIP: LEARN ABOUT WARRANTIES. Most warranties, especially on used trucks, are limited. With new and used equipment warranties, take as much time as you need to understand the warranty being offered and the claim ...

| November 03, 2011

PIB TIP: THREE TESTS FOR A USED TRUCK. Three technical tests should be pursued on a used truck before you buy it. The dynamometer or “dyno” test usually costs $100-$00 and determines the engine’s strength ...

| October 26, 2011

PIB TIP: KNOW A USED TRUCK’S MAINTENANCE HISTORY. While you’re asking your dealer for crucial paperwork, ask him for a record of the truck’s maintenance history, including oil analysis. Any well-managed fleet truck should have ...

| October 19, 2011

PIB TIP: EVALUATE USED TRUCKS. Ask to see information from a truck’s onboard computer from the dealer and carefully review the report’s details on idle time, brake actuation per thousand miles, the number of panic ...

| October 12, 2011

PIB TIP: DEFINE YOUR BUSINESS. Before you lease a truck, spend some time researching the type of freight you want to haul. By knowing what industry you will haul for before you buy or lease ...

| October 05, 2011

PIB TIP: UNDERSTAND LEASING CONTRACTS. As you prepare to lease a truck, make sure you know about alteration restrictions and that all warranties pass through you. Find out when payments are due, what ...

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