What's My Truck Worth
As lenders to Owner Operators, we get that question on a regular basis. What is my truck worth? At Big Rig Lending, we use a variety of resources to determine value. We look at market values, mileage, condition, age, time since rebuilt engine, and other factors to determine worth. But the question of "What is my truck worth?" is an important one because you can come at it from a variety of perspectives.
So let me give you an illustration to show my point. What is a 2016 Louisville Slugger bat worth? Well, you can buy a brand new bat for about $170 online. That is one way to determine worth. But what is it worth if my 5 year old nephew bangs on the sidewalk with it all summer? A lot less. What is it worth if Derek Jeter or Alex Rodriguez hit a home run with it? A lot more. Or what is it worth if it is used to win Game 7 of the World Series when my Cubs take the World Series title this year? A whole, whole lot more!!!
Just like a Louisville Slugger, the intrinsic value of your truck is much higher than the value you might get on various websites. There is intrinsic value in the truck because of you the driver. Your truck is like Derek Jeter's baseball bat. Your truck is valuable because you are behind the wheel. Your truck is valuable because you use it to make money. Your truck is valuable because you know where it has been. You know how it has been serviced. And you know what it is worth. Big Rig recognizes the intrinsic value your truck has because you are behind the wheel.
You, the owner operator, are the key driver to value. At Big Rig Lending, we want to be your partner in maximizing value. We want to be there to help you finance the repairs needed to keep your truck at maximum value to you. We recognize that you and your truck are where the value is.
Let Big Rig step up to plate, and be your partner in your business' financial needs. WE LEND. YOU DRIVE.
Posted on Mon, September 26, 2016
by Chris McCoy