We’ve put together a list of points that will help owners and small fleet managers who may be struggling with the same old question: “Should I buy a used or a new truck?”
Pros of Buying a New Truck
The most important factor in buying a truck, whether used or new, is mostly a matter of the expense. Buying a new truck is significantly more expensive than a used one, for obvious reasons. Apart from the cost at hand, there are other factors that come into play when deciding on the kind of truck you want and whether it is worth it.
All new trucks come with a long extensive warranty that covers all sorts of damage and repairs. This provides major peace of mind for new truck owners, helping them save money on repairs and maintenance.
Full Track of the Truck’s History
Another reason to buy a new truck is that you can rest assured that it is brand new and has the least concerns possible. Even if there are any concerns, they can be covered under the warranty offered.
However, used trucks, no matter how well maintained, are always going to have some unknown issues. What’s worse? They might not even have a warranty cover. When you buy a new truck, you’re in complete control of it and the onus to take care of it, is on you.
Pros of Buying a Used Truck
Buying used trucks is very common for owner-operators. With the kind of price difference on offer, used trucks become a viable option for many who can’t afford new trucks or would rather save that money for further maintenance of a used truck.
Used Trucks Are Significantly Cheaper
Affordability is a big consideration while buying a used truck. While a new truck might cost $150,000, the same truck can be sold for $100,000 after a couple of years. Many trucks reach prices of $20,000-$30,000 after a period of 10 years.
Similar to a New Truck
If the truck isn’t too old and provided you’ve done a good inspection, a used truck can offer you nearly the same features of a new truck.
As you’ll be investing less money in a used truck, the risk is an important factor to consider. Even if the truck incurs a lot of damage repair and maintenance costs, you won’t feel too bad about buying it, considering the amount you’ve paid for it. A new truck too can have repair issues and some issues won’t be covered under the warranty. This can burn a hole in your pocket, while also making you feel bad about the choice.
Many drivers prefer older trucks as they are more powerful and have a sturdy build than many new trucks. If you prefer more robust power and handling over advanced models, a used truck can be a great asset and experience.