Buying a Company-Owned Truck in Hanoi: Risks vs. Rewards

Anh Phong, a fruit wholesaler at Long Bien Wholesale Market, decided to purchase a Hyundai New Porter 150 truck to meet the increasing transportation demands for the upcoming holiday season. Due to limited funds, he opted for a cheaper, company-owned truck. Initially, everything seemed smooth sailing, and Anh Phong was delighted with his “bargain.”

However, the “cheap buy” soon turned into a costly headache. The company-owned truck constantly malfunctioned, leading to mounting repair expenses that left Anh Phong in despair. Furthermore, every time he passed a checkpoint, he was filled with anxiety due to the lack of proper documentation. After a year of struggling, Anh Phong reluctantly sold the truck at a significant loss.

Anh Phong selling his truck at a loss

Anh Phong’s story serves as a cautionary tale for those considering buying a company-owned truck without thorough research. So, what exactly is a company-owned truck? What are its advantages and disadvantages? Let’s delve into the details with Xetaihanoi.edu.vn.

What is a Company-Owned Truck?

A company-owned truck is a truck owned by a business but sold to an individual or another organization without transferring the ownership title. In other words, the buyer only has the right to use the vehicle, while all information on the vehicle’s registration remains under the selling company’s name.

Advantages of Buying a Company-Owned Truck:

• Lower Price: This is the most attractive factor for buyers, especially those with limited budgets.
• Simplified Purchase Process: No complicated ownership transfer procedures are required, saving time and effort.

Disadvantages of Buying a Company-Owned Truck:

• High Legal Risks: In case of accidents or disputes related to the vehicle, the buyer will face difficulties due to not being the legal owner.
• Difficulty in Obtaining Insurance: Many insurance companies refuse to insure company-owned trucks or apply higher premiums.
• Risk of Traffic Fines: The buyer may receive fines for traffic violations committed by the previous owner.
• Difficulty Reselling: Company-owned trucks are often difficult to resell due to the inherent risks.

Company-owned truck receiving a traffic fine

Company-Owned Truck Price List (Reference):

Note: This price list is for reference only. Actual prices may vary depending on the vehicle’s condition and the time of purchase.