The age-old debate… When shopping for a new vehicle, do you buy new or used? This seems to be one of the biggest toss-ups that car buyers face. This is especially so when shopping for pickup trucks or sports utility vehicles.
When you consider that most people buy pickup trucks for their functionality, and not just solely based on their aesthetics, manufacturing brand or features, then there are more factors to consider. Let’s take a closer look at the advantages and disadvantages of buying a preowned truck so you can get more pickup for your buck.
Benefits of Buying a Used Truck
- Affordability – Affordability is an obvious perk when buying any used car or truck. Even base model trucks are priced fairly high. You may experience some serious sticker shock if you wander to that end of the carlot. Shopping for a used truck is certainly a less stressful task for those that are looking for a bargain.
- Avoid Depreciation – Most consumers understand that new trucks depreciate considerably when you drive them off the lot. Data suggests that cars and trucks lose more than 10% of their value in the first month alone. And the value of your truck keeps falling the longer you drive it, depreciating nearly 20% in the first year of ownership. When you buy a used truck, you’re not only getting a great deal on the price, but you’re avoiding the initial depreciation. Even trucks that are two years old can offer the same incentives and savings. What’re two years anyhow?
- Wear & Tear – Because pickup trucks are typically purchased for their utility feature and the ability to haul things like lumber in the bed, they do go through a considerable amount of wear and tear in the first year. Buying an untouched pickup is kind of counterintuitive to its intended function. Unless you are buying a new pickup truck purely for its appearance, it makes more sense to buy a used truck and take advantage of the price reduction.
- Choices, Choices, Choices – When you purchase a used truck you immediately have more options available to you. You’ll be sure to find a variety of models from varying years that all have different features and price points.
- Insurance Savings & Resale Value – Additional savings can be realized by way of lower insurance premiums and fair resale value for your used truck. Depending on the model, you make get lower insurance rates as opposed to a new car. Used trucks are an especially good choice for first-time buyers and younger drivers. And because you aren’t losing so much value on depreciation, when you go to resell the truck, you might be able to get back close to what you paid for it.
Drawbacks of Buying a Used Pickup Truck
It is true, there are a few things to consider before buying a used truck, but do they really outweigh the good? You can be the judge.
- Reliability – When you buy a used truck you’re expecting it to have a few minor flaws. But these are mostly cosmetic. Truck manufacturers have drastically improved the way they make their automobiles, nowadays they are built to last. While some much older trucks that are over 5-6 years old may have some mechanical problems, this is rare. When you are purchasing any preowned vehicle you always want to be sure to take it to a mechanic before signing on the dotted line. See if it has any mechanical issues and factor that into the final sale price.
- Lack of Tech – It is true that newer trucks have more bells and whistles, but does it really make that drastic of an impact on your decision? That is up to you, obviously, but if you have your heart set on having high tech features in the cab of your pickup, you may be able to still get most of what you want in a truck that is 1-2 years older than the newest model. While features like an onboard computer, built-in navigation, and humidity sensor windshield wipers are awesome, you’d be surprised to see a slew of used trucks that also have these in them.
- Factory Warranty – Depending on what year model truck you are thinking of buying, you may not be able to take full advantage of the factory warranty. This is a big deal to some, as new car buyers believe a warranty is worth its weight in gold. Again, be sure to shop around and negotiate with the used car dealership and salesperson. You may be able to find a used truck that still comes with the warranty for a certain number of years.
Ask Questions, Get Vehicle History, Always Negotiate!
If you do decide that buying a used truck is a better investment, be sure that you carefully weigh the pros and cons. If you’re looking for the latest technology, you may be able to make slight compromises and still buy a used truck with some, if not most, of the features you want.
Be sure to shop around and carefully review the history report of all used vehicles. When in doubt, move to the next option. You should feel confident about your purchase. After all, you’ll be relying on it for the long haul.
CarWorld offers a large inventory of used trucks, midsize SUV, and SUVs, as well as a premium inventory of high-end vehicles. Visit our “buy here, pay here” dealership for help finding the vehicle you want and need.