When it comes right down to it, whether you buy new or a used truck usually boils down to how much money you want to spend. However, there are other factors to take into account. We have listed a few of them for you to consider.
The advantages of buying a new truck:
- You can order the specifications you want and receive the exact options desired.
- You receive full factory warranties and can purchase extended warranties if preferred.
- Maintenance costs are, by and large, minor.
- Reliability is usually ensured.
- Downtime, as a rule, is minimal.
The disadvantages of buy a new truck:
- The purchase cost of a new truck is high.
- First year depreciation of the vehicle can be very high.
- New trucks typically have to be ordered and the delivery time can be lengthy.
- Replacement parts, if needed, are expensive.
- Mechanics can lack knowledge of newer electronic technology.
- Higher insurance costs.
The advantages of buying a used truck:
- The purchase cost of a used truck is ordinarily much lower.
- Used trucks are readily available and the selection is ample.
- Many mechanics are more familiar with older trucks than the newer technology.
- Older technology can sometimes be easier to diagnose and cheaper to repair.
- Replacement parts are more accessible and less expensive.
- If you are exporting the truck, the import duties can be much lower.
The disadvantages of buying a used truck:
- Usually, used trucks are sold without warranty.
- Used trucks generally have higher maintenance costs.
- Used trucks are more prone to breakdowns.
- If you are an exporter, import restrictions may not allow used trucks in the country.