8 Things Every Buyer Should Know Before Financing Used Septic Trucks

Pumpers have varied preferences regarding vacuum trucks. Some prefer new acquisitions, while others opt for used trucks or repurposed chassis with new or transferred vacuum units. Buying used septic trucks can be cost-effective and significantly reduce lead time. However, with any used purchase, it's imperative to do your research before buying.

In this article

1. Eight Key Things to Consider Before Purchasing a Used Septic Truck
2. Budget and Financing
3. Consider Tax Deductions

Here's a list of the factors you should consider.

8 Key Things to Consider Before Purchasing a Used Septic Truck

1. Understand your requirements: Before purchasing a used septic truck, consider what type of specs your truck needs to complete the jobs you have planned. The tank capacity, the length of the hose, the power of the vacuum pump, and the chassis will all play a role in whether you've found the right used truck.
2. Choose a reputable seller: Conduct an online search to verify seller credibility. If you find any red flags, such as liens or judgments, reconsider proceeding. Request references from sources like the local chamber of commerce. Contact the references provided to confirm their satisfaction with past transactions.
3. Know what you're buying: Obtain an itemized listing of the truck, including every component and accessory. Avoid vague agreements. Ensure specific details such as the year, make, model, and specifications of the pump, tank, hoses, valves, and chassis are clearly stated. Confirm the warranty conditions.
4. Inspect the truck: When possible, personally inspect the truck to assess maintenance quality and performance. Ask for detailed photos or videos if an in-person inspection is not feasible. Pay close attention to the frame, tires, engine, and other components for signs of wear. Request maintenance records and consider a pre-purchase inspection by a mechanic.
5. Modern emissions systems: Verify if the truck has modern emissions systems. According to Pumper.com's article on Navigating the Used Truck Market, modern emissions systems were introduced in model year 2008. Since earlier systems are more prone to maintenance issues, a proper system can save you money and keep your trucks in working order.
6. Understand "As is, where is" sales: Used truck sales are typically final unless a warranty is provided. Be explicit about repair needs and include them in the sales contract. Inspect the unit upon delivery to ensure repairs were completed satisfactorily.
7. Arrange for a reasonable downpayment: When buying used, the seller may not require an upfront payment. Regardless, avoid paying the full amount in advance. According to Pumper.com, most builders request 10 to 20 percent down. Higher demands could indicate financial instability for the seller.
8. Get a delivery date – in writing: Agree on the delivery terms and impose penalties for delays. Do not accept partial deliveries or promises of future additions without written confirmation. Verify that all ordered items are properly installed and operational upon delivery.

Budget and Financing

While it is important to work within your budget, it is equally crucial to prioritize quality and reliability. Investing in a high-quality system may require a higher upfront cost but can save you money in the long run by minimizing repairs and extending the lifespan of the system. Financing can spread out costs into monthly payments and make pump truck septic systems more affordable.

Set a realistic budget with a pre-approval:

Pre-approvals are a no-cost, no-commitment way to determine your budget before shopping. Beacon Funding is an expert in financing both new and used septic trucks. With a quick application, you'll learn your maximum lease amount, monthly payment estimate, total initial cash required, maximum lease term (in months), and end-of-lease purchase option.

GET PRE-APPROVED

Consider tax deductions

Financing may also offer opportunities for tax deductions under Section 179 of the IRS tax code.  Section 179 is the U.S. government’s way of stimulating the economy by rewarding growing businesses for purchasing and using their equipment.

Reap your tax savings sooner than later! In the first year you finance your equipment, Section 179 allows you to write off 100% of the equipment cost rather than depreciating it over several years. Use the calculator to see your potential income tax savings.

SECTION 179 DEDUCTION CALCULATOR