Buying a new truck comes with advantages, but so does buying a used one. In fact, buying a used truck has more perks than most people usually realize. We’ve done our best to summarize these benefits below.
Lower prices and fees
The most obvious benefit of buying a used truck is the lower ticket price. If you’re shopping on a budget, it only makes sense to buy used. But the affordability of buying used goes beyond the sale price. Used vehicles also cost less to insure and register, and because the overall price is lower, the tax (which is based on a portion of that price) is lower as well. Additionally, if you take out a loan, you will likely pay less in interest over the course of the loan than if you had financed a higher amount. In summary, buying used can save you quite a lot of money.
Better resale investment
Buying a used truck provides an opportunity for you to save even more money thanks to lower depreciation. The vast majority of vehicles lose more value in the first three to five years of ownership, after which depreciation slows down, sometimes significantly. In other words, when you buy used, you get a vehicle that will lose value over time at a slower rate than if you had bought new. If you plan to sell the vehicle a few years later to get a new one, you’ll get a bigger chunk of your money back.
More opportunity for upgrades
Sometimes, buying used isn’t about saving money — it’s about getting more bang for the buck. Instead of buying a brand-new truck at the lowest trim level, which has the fewest features, you can buy a used truck at a higher trim level, with more options and features, for the same price. As long as you can live without that new car smell, buying a used ride is one of the best ways to gain access to luxury features and performance without breaking the bank. Alternatively, the money you save by buying used can be put toward accessories that enhance your lifestyle, such as off-road parts, which are available regardless of whether the truck is new or used.
Wider range of options
Buying a new truck is generally more limiting than buying a new one. That’s because when you buy new, you’re limited to only the current model year. When buying used, however, you have a much wider array of options available to you. Previous model years with features you like that are no longer available on the latest model, endless combinations of options and packages, upgrades added after the initial purchase by previous owners, and so on. When you buy new, you’re looking at just a single model year. When you buy used, you’re looking at all of them.
Less concern over dependability
One advantage of buying a used truck specifically, as opposed to a used car, is that trucks are often built from the ground up with dependability and rugged capability in mind. After all, if a truck needs to be able to tow 10,000 pounds and spend most of its time on unpaved roads, then it needs to be built to a higher durability standard than your average passenger car. It’s not uncommon for trucks to exceed 150,000 miles, and some even go beyond 200,000. As a result, trucks not only offer greater peace of mind but also retain their value very well, making them a good asset to invest in no matter if you are buying it new or used.
If you’re in the market for a high-quality used truck or other type of ride, please visit Don Robinson Mitsubishi in St. Cloud, Minnesota.