Whether you've just secured your CDL or you're making the shift from a company contract to an owner-operator role, you'll need to invest in a truck. Before you start shopping, you should know if you're looking for a used truck or a brand new model. If you've been having trouble making that decision, here are a few reasons you might want to consider buying used, especially if this is your first truck.
Especially for drivers who are just getting started, buying used is often a sound financial decision. After all, used trucks will be less expensive than brand new ones. In fact, even if the truck is only a year old, you'll still pay much less than you would if you buy it brand new on the lot. The lower payments will help you manage your cash flow and reduce your overall expenses.
In addition, the cost of insurance, tax, title, and registration will all be lower if the vehicle is older. Each of these expenses is directly affected by the year, make, and model of the truck you buy. Opting for a second-hand truck that might be a little bit older and has some wear and tear can ultimately save you quite a bit in all of the other associated costs beyond just the upfront expense of the vehicle. With the unpredictability of things for new drivers, this can be a significant benefit.
While traditional cars tend to reach the capacity for their engine within a couple hundred thousand miles, most semi truck engines will last for several times that, so used trucks are not as much of a risk as they might be with a car. Just make sure you stick with a reputable manufacturer so that you've got the best chance of a long-lasting investment.
To ensure that you get the most life possible out of the engine, don't buy any used truck without first looking through all of the service records. This will show you how well the engine has been cared for and it may help you to identify any areas of neglect or particular trouble. The more informed you can be, the more reliable the truck you'll end up buying.
When you shop for brand new trucks, it's easy to get lost in the potential options and extras. Unfortunately, those extras are typically considered upgrades and they can cost you substantially. By opting for a used model, you'll get the truck as-is, so there's no risk of finding yourself overwhelmed with options and spending far more than you expected to.
When you buy a new truck, that truck will depreciate significantly as soon as it rolls off the car lot. That depreciation can leave you with a loan that's far more than the actual worth of the vehicle. Since that large portion of depreciation hits when the truck first leaves the lot, you'll see much less in depreciation from any used truck you buy. It's already lost a large portion of its value in the first year that the prior owner had it. This means you won't take as much of a financial hit if you end up having to sell the truck quickly after you buy it.
With the information here, you'll be better prepared to invest in the right truck for your needs. When you're ready to look for a truck, now you'll understand why used trucks are often a better investment. Just remember to have any used truck inspected thoroughly by a mechanic or work with a used truck dealer like Arrow Truck Sales who provides a certified inspection of every used vehicle. That way, you know what you're getting and can be confident in your purchase.