Whether you’re an independent trucker ready to upgrade your big rig or you’re a business owner who needs to improve a fleet of vehicles, it’s worth weighing the pros and cons of investing in used commercial trucks rather than brand new models. Check out the reasons below to see why.
Benefits of Buying a Used Semi Truck
Is it a good idea to buy a used semi truck? Absolutely! There’s no need to force yourself to get a new big rig if you don’t have the budget for it. Instead, you can look at the many popular models of the past few years to see if any of them have everything you need at a price that’s right.
When debating buying a new semi truck vs. used, consider the following:
- You might be able to save a substantial amount of money by buying a used truck. While a new model might be priced well over $100,000, a used one might be way under $100,000. So, whether you’re planning on financing, leasing, or paying cash, you may have more money left over when you buy used.
- Choosing a used truck might also help you save money when it comes to insurance for your vehicle. Try getting a rough idea of how much your insurance would cost if you were to go with a newer model versus an older model. Doing so can help you make the right decision if your goal is to stretch your budget as much as possible.
- A significant amount of depreciation occurs in the first year of a new truck. Then, the depreciation slows down. If you play your cards right, you might be able to get a solid deal on a truck that’s about a year old, and even get a high price for it when you’re ready to sell it later on.
- When you buy used, you can do more research into what other truckers have to say about a vehicle that has been around for some time. This can give you greater insight into whether or not it will perform the way you want it to, and whether or not it’ll be reliable enough for your needs. With brand new models that few people have driven, it might be harder to figure out if there are problems that need to be addressed, such as recalls or faulty features.
What to Check When Buying a Used Semi Truck
Although there are plenty of benefits you can reap from buying a used commercial truck, there are also potential drawbacks. What is the best way to buy a used semi truck, and what steps can you take to avoid disappointment?
Buying a used semi truck checklist:
- Carefully inspect the truck inside and out, and take it for a test drive if you can. Make sure everything about the vehicle is in good working condition.
- Ask plenty of questions about the history of the vehicle, including if it’s been involved in any accidents. The more you can learn about a truck, the better you can gauge whether it will provide the value you want.
- Always check the mileage on a truck before purchasing it. One of the potential drawbacks of buying used is high mileage. And when there’s that much wear and tear on a vehicle, it may increase the odds that you’ll need to spend more time and money on repairs and maintenance.
- Older trucks might have engines that create more pollution, and they might also get less gas mileage. If these are issues you’re concerned about, search for newer models that can help you save money on fuel while being better for the environment.
- Buying from a dealership is a smart way to go, especially if you don’t know a vehicle’s owner personally. The dealer can help you find the right truck at the ideal price and might even offer a warranty.
No Matter What, Shop with Care!
Whether you’re buying new or used, shopping with care is key. But one great thing about buying used is that there are so many options on the market, even from top manufacturers like Peterbilt. You can upgrade to a better truck that has a host of modern features, and you can spend less on a vehicle that still runs perfectly.
Ready to shop? To get an idea of the type of used truck inventory that’s currently available, click here.
Updated on June 23, 2021