Whether to buy a new or used heavy duty truck, this question can be answered by balancing short term priorities versus long term usage. There is a choice to be made here, good or bad, we’ll never know. However, a decision needs to be made and these are the factors worth considering before making one.
Who doesn’t enjoy choices when buying something? Having options to choose from adds to buyer power. Buying a new heavy duty vehicle includes choosing from a vast selection. We can decide on the model, company, specifications, color and type of vehicle. Buying a used heavy duty vehicle is making a compromise. We really can’t take it or leave it because we need it!
Banks offer lower interest rates for the purchase of a new heavy duty truck. If you don’t have any immediate financial obligations to fulfill, buying a new heavy duty truck makes sense.
After negotiations used heavy duty trucks can be purchased at a really great price. If you like what you see and are getting a good deal, there’s no reason why you shouldn’t buy a used heavy duty truck.
For the first year or so, maintenance checkup costs of a new heavy duty truck will be nil. You won’t have to worry about it breaking down for a while. Used heavy duty trucks maintenance will require you to spend time and money in the repair shop.
Bottom line, a used vehicle is going to break down sooner than a new one. Hopefully, this will happen later rather than sooner. If you prefer not to count on hope, buy a new vehicle.
This argument is in favor of buying a used truck. Depreciation hits new vehicles really hard, up to 20-30% in the first year. It’s worth considering that after five years the resale value of a new heavy duty truck will be much lesser than a used one. Don’t take my word for it; use this calculator to find out the five year cost of almost any vehicle. This factor is worth considering only if circumstances encourage you to sell your heavy duty truck in the future. If not then this is a moot point.
A new truck’s warranty is intact from the time of purchase whereas a used one’s warranty may already be expired. If you are a cautious driver and do not expect to wreck your truck, then this factor isn’t worth considering.
This factor should be taken into account if you’re in a real hurry to buy a truck. It takes a good deal of research to get the right truck suited to your purpose. Buying a new truck is much simpler.
While it may seem that the arguments made, are in favor of buying a new truck, the really low cost of buying a used truck is its sole advantage. Otherwise buying a used truck, only makes sense if you are a collector of antiques.