Should I Buy A New Or Used Work Truck?
New and used trucks for sale near you are possibly some of the most versatile vehicles on the market. With the ability to haul heavy loads paired with off-road capabilities, there are plenty of reasons to consider a truck. If you are considering a truck, however, you may be finding some difficulty deciding whether you want something new or used. In truth, there are pros and cons with both new and used trucks. Given this, we at USA-1’s Elkhart used car dealer have compiled a helpful list below to describe these pros and cons in detail.
New:
Equipped with new technology and the latest designs, new trucks at Elkhart dealerships or anywhere else are sure to grasp your attention. Below, you can browse the pros and cons of a new truck.
Pros:
1. Incredible Reliability And A Guaranteed Lifespan
One of the most significant benefits of owning a new truck is that it’s new. As the first one to drive this truck, there is a high level of reliability, and the average lifespan of the truck is guaranteed so long as you maintain it when needed.
2. Deals On Interest Rates And Great Warranties
To add to the reliability associated with new trucks, most car dealerships in Elkhart, Indiana, provide incredible warranties on new vehicles. These warranties cover specific repairs or maintenance for your new truck over a set amount of time or mileage. Low interest rates on auto loans for new trucks are another great perk. There are even specific interest rate deals with captive car financing, which is manufacturer-sponsored financing. For example, Toyota financing has a 0% APR financing program for qualifying buyers.
Cons:
1. Rapid Rate Of Cost Depreciation
Upon purchasing a new truck, it will immediately begin losing value. After all, it’s no longer new once you’ve purchased it. On average, most trucks will lose 60% of their value over five years.
2. High Insurance Rates, Taxes, And Initial Fees
Compared to used trucks for sale near you, new trucks typically have much higher insurance rates, taxes, and initial fees. This is primarily due to their high price, which translates into more expensive components and repairs as well.
Used:
Used trucks for sale near you are by far the more popular choice among truck buyers, primarily for their affordability. For an explanation of this affordability, along with the other pros and cons of used trucks near you, you can look below.
Pros:
1. All-Around Affordability
Whether you are shopping at USA-1’s Elkhart used car dealer or any other used car dealer, the first thing you will likely notice about used trucks compared to new trucks is the affordability. In fact, used trucks are exponentially cheaper than new trucks. Additionally, dealerships, such as USA-1’s Elkhart used car dealer, offer plenty of deals and specials on used trucks, making them unbelievably affordable.
2. Slow Rate Of Cost Depreciation
Another benefit that comes with used trucks for sale is their slow rate of cost depreciation. Most of the value of used trucks has already been diminished after the first few years of use. After these first few years, the rate of cost depreciation slows down by a lot.
Cons:
1. Reliability And Lifespan Is A Gamble
When you buy a used truck, you are usually taking a gamble on how long it will last you. With this being said, a vehicle history report can help to offset this risk by helping to predict how much life is left in a truck based on past use and maintenance.
2. Frequent Repairs And Maintenance
The other disadvantage of buying a used truck is that it will require more repairs and maintenance than a new truck since it is older. Despite this, you can still find newer and lower mileage used trucks, which will require far less maintenance and repairs than older trucks.
