Whether you’re planning to buy a New or Used truck, the simple fact is that there is one driving reason that people shop for trucks in the first place. That reason? You need a truck in order to get a job, or multiple jobs, done. But if you’re shopping Used Trucks for Sale, you’re balancing that need with some degree of prudence. You’re looking to accommodate your need, but to do so within the constraints of a budget.
Now…that budget might be a firm limitation on what you’re able to spend or a self-imposed limitation on what you want to spend. It may even be the first step that you choose to make, in order to begin repairing your challenged credit. Either way, buying a pre-owned truck is smart, but the benefits of doing so relate to far more than just cost control. Here are just a few:
Lower Front-End and Incremental Costs
It’s easy to be fixated on the ticket price, or not he financing rate that you’re able to secure. But what about the other ways that a well-vetted pre-owned vehicle can cost you less? Consider tax, title, registration and insurance costs. Whether paid upfront or incrementally through the life of the vehicle, a used truck will cost you less than a new vehicle in these areas.
An Appreciation of Depreciation
Buying used means that you’ve allowed the original owner to shoulder the bulk of a vehicle’s depreciation. After three years, a vehicle that they had bought new might have depreciated by as much as 46%. After five years, that drop in value jumps up to 63%. The benefit to you is that you can now afford more truck for your money, by buying used. This means that you can now budget a truck or trim level which might have been outside your budget if purchased new.
Perform Your Due Diligence
Just remember the importance of performing your due diligence before any pre-owned vehicle purchase. This means scrutinizing a vehicle history report and giving any vehicle that you’re considering a proper inspection. If you’re not confident in your own mechanical ability, enlist the help of someone who can give an informed look under the hood, and under the vehicle itself. Take them with you on a test drive, as well.
If you’re thinking of picking up a truck from the last five model years, there are a wealth of options worth checking out. That said, here’s a look at the ‘Big 3’ (Ford, Chevy, and RAM) going back to a comparison of the 2014 F-250, Silverado 2500 and Ram 2500, when they were served up as new offerings.