Looking for a new truck can be exciting, especially if you have your heart set on all those features that will make it a perfect fit for your needs. Remember that every type of truck has advantages and disadvantages, new or old. Getting a car that meets your needs and enhances your journey is important. But if value is one of your main concerns, buying used may be a better option. Here are a few reasons why:
Used
People frequently search for two qualities when purchasing a vehicle, whether it is new or used: dependability and durability. Both are two distinct approaches to buying a vehicle. Today’s cars have deteriorated in terms of durability. For instance, most of the body of a new F-150 comprises aluminum. The aluminum used to construct the truck’s hood and almost the whole truck bed undermines the truck’s structural integrity and safety. A serious collision may have terrible consequences for the vehicle. What about a vintage F-150? These vehicles’ steel construction contributed to their durability. Although most earlier-fashioned versions are considered more robust, many current models are still built of steel. One of the main reasons many truckers prefer new trucks is that they depreciate less than used ones. That first drop in value occurs when you drive off the dealer lot and continues throughout that first year of ownership. Depending on the truck, some brand-new trucks can lose half their value that first year! For most buyers, there are better investments than that.
When you buy a used truck, the previous owner has already absorbed the depreciation. It lowers the initial cost and allows you to save money from the start. It also means that you can afford to get more features or packages than if you bought the truck new. Choosing a dealership that is open to negotiating prices can help you further reduce the cost of a used truck. A vehicle history report can also be a valuable tool, showing the truck’s accident history or whether its odometer has been rolled back to conceal the true mileage. Finally, buying repossessed trucks for sale can give you more flexibility if your fleet changes. With supply issues making it impossible to custom order a truck and OEM component shortages driving new prices through the roof, it may be wise to wait to invest in a brand-new truck and opt for something that will serve you better for the long term.
Brand New
A brand-new truck usually has the latest technology and may even have a warranty. It is also possible that it will get better fuel mileage than older models. It is important for many fleets since fuel costs can be expensive. Another advantage of buying a brand-new truck is that it typically has full knowledge of its history. It can be important because you will know what issues it has had. With used trucks, it can be difficult to know how well they were maintained or what problems have cropped up. The biggest drawback to buying a brand-new truck is that it depreciates when you drive them off the dealer lot. New trucks can sometimes lose half their value in the first few years of ownership. It is especially true if you finance the vehicle with a loan. Buying a new truck can be a big investment, but reducing downtime and repairs can save you money in the long run. It can be costly for a fleet to spend time sending trucks to the shop and losing revenue while they are down. It is why many ICOs opt to purchase new trucks rather than used ones.
Certified Pre-Owned
If you’re a truck buyer looking for a safe and reliable vehicle, purchasing a certified pre-owned (CPO) vehicle is a smart investment. A CPO is a used car inspected and reconditioned by factory-trained technicians. It’s also typically backed by a warranty from the manufacturer, which offers peace of mind and lower risk than an ordinary used car. Many truck buyers like to purchase a CPO because it’s less expensive than buying a new one. New trucks are more costly than other vehicles because they require a larger down payment. However, they offer several benefits that make them worth the price tag. For example, most new trucks have a lengthy and extensive manufacturer warranty covering many repairs and other damage. Additionally, the manufacturer will often guarantee the quality of the vehicle’s performance and features.
Fortunately, CPO vehicles from several companies are thoroughly vetted to ensure they meet high safety, performance, and condition standards. Driving your truck makes you less likely to experience major problems. Furthermore, some CPO models are more affordable than other used vehicles because they’re only a few years old. It means you can get a better-equipped model for the same price as an ordinary used car.