Should I Buy A New Or Used Work Truck?
With the vast number of utilities they provide, trucks for sale near you are some of the most versatile vehicles on the market. With this being said, if you are in search of a work truck, you may be wondering whether or not you should buy something new or used. Truthfully, there are advantages and disadvantages associated with both new and used trucks.
Having years of experience in helping people to find new and used trucks for sale near Terre Haute, we at Terre Haute Auto have developed a lot of knowledge about what makes new and used trucks unique. For this reason, we have assembled a detailed list below of the pros and cons associated with new and used trucks to help you with your truck decision.
New trucks for sale near you have a shiny appearance and modern technology that makes them very enticing compared to used trucks. Below, you can find the pros and cons that come with new trucks.
1. Great Reliability And Guaranteed Lifespan
If there’s one thing that new trucks for sale near you share, it’s reliability. In fact, because you will be the first one to put miles on it, a new truck is guaranteed to last its average lifespan when properly maintained.
2. Good Warranties And Low Interest Rates On Financing
Other significant benefits that set new trucks apart from used trucks for sale near Terre Haute or anywhere else are the incredible warranties and interest rates that are offered. Warranties that come standard with new trucks guarantee specific repairs for a set amount of mileage or time, improving the overall reliability of new trucks. Additionally, the interest rates to finance new trucks are typically much lower than interest rates associated with used trucks depending on your credit score.
1. Rapid Cost Depreciation
From the moment you purchase a new truck for sale near Terre Haute or anywhere else, it will begin to lose its value. On average, most trucks will lose 60% of their value after five years. Therefore, there won’t be much of a return on investment when purchasing a new truck if you plan to sell it in the future.
2. High Taxes, Initial Fees, And Insurance Rates
Compared to used trucks for sale near Terre Haute or anywhere else, the taxes, fees, and insurance rates associated with new trucks are much higher. These higher costs are inherent with the higher price of new trucks.
Overall, used car dealerships near you receive a lot more business than new car dealerships because of the affordability of used vehicles, which includes used trucks. The pros and cons of used trucks can be seen in the following list.
1. Slow Rate Of Cost Depreciation
As mentioned above, new trucks lose quite a bit of value over five years. After all, they become used trucks as soon as they’re purchased. Given this, you should note that used trucks have a much slower rate of cost depreciation since most of their value has already diminished within the first few years of use.
2. Incredible Affordability
Whether you are shopping with our used car lot in Terre Haute, Indiana, or any other truck dealer, one of the first things you will likely notice about used trucks is their price. In truth, affordability is one of the biggest reasons for the popularity of used trucks. Adding to this affordability, used trucks also have incredibly low initial fees, taxes, and insurance rates compared to new trucks, given their lower price.
1. Reliability Not Guaranteed
One disadvantage you should note when buying a used truck is that reliability is not guaranteed. For example, if a truck was poorly maintained before being sold at a used car lot, it may not have a lot of life left. Typically, however, vehicle history reports and warranties can help to offset the risk of reliability with used trucks.
2. More Repairs And Maintenance Requirements
The final disadvantage you should consider before buying a used truck is that it will require more repairs and maintenance compared to a new truck. Luckily, however, used trucks have cheaper components than new ones. Therefore, maintenance and repairs are generally affordable.