If you need a commercial truck for your business, don't assume you have to buy new. There are many dealers who sell used commercial trucks. If you aren't sure why getting a used commercial truck is such a good idea, check out these five benefits of used commercial trucks compared to leasing and buying brand new.
You Own the Truck
Leasing is a popular option when you need a commercial truck because leasing is extremely affordable. Basically, like renting an apartment or an office, you are renting the automobile. The benefit of this is that you can get a top of the line truck without spending a fortune because you are just leasing and not buying. However, because you don't own the truck, you don't get any of the benefits of owning, such as having collateral. Another disadvantage of leasing is if you decide to purchase the truck at the end of the lease agreement. If you do purchase the truck, the cost you spent on leasing and the final purchase price will be much higher than if you had bought the truck in the first place.
They Are Affordable
New commercial trucks, like any new vehicle, are more expensive than used trucks. For example, if you are considering buying a new semi-truck, expect to spend about $100,000 to $150,000, depending on various factors including the features. A used semi-truck, on the other hand, costs between $15,000 and $100,000. That's a lot of money you save by buying used, and the money you save can be reinvested in the business for other important supplies or equipment.
You Can Get What You Want or Need
One problem with buying a new commercial truck is trying to figure out what you need and what just sounds like a fun feature. In some cases, you may just what the basics you need, so you can save money for other parts of your business. If there are special features you want but can't afford in a new model, buying used can be your best bet. Because of the lower prices, you may be able to find a truck that has amazing features you want, and you can afford it. True, you may have to buy a truck that is a few years older, but if it's been well maintained, it should be a perfect fit.
Depreciation Is Lower
Another benefit of buying used vehicles in general is that there is less depreciation. Depreciation is the difference between how much you spent on your car and how much it's currently worth. This is a big problem with new trucks. They have high prices just because their new. However, once they've been purchased and used for a while, that benefit is lost, so the truck is suddenly worth a lot less than you spent. This becomes an issue if the truck is totaled or if you have to sell it suddenly for some reason. By buying used, depreciation occurs slower, so you'll get closer to what you paid.
Operating Costs Are Lower
Besides having a lower purchase price, used commercial trucks tend to have lower operating costs. Operating costs include everything it takes to operate your truck, such as registration, insurance, gas, etc. For example, if you buy a new truck, your monthly insurance premiums will be higher than if you bought a used truck. This is because the new truck is worth more, so if your truck gets damaged, the insurance company will likely have to pay more to repair a new truck. With the advancements in fuel efficiency, however, a new truck may actually have lower gasoline costs.
If you need a commercial truck, don't just assume you have to buy new. You can get many types of used commercial trucks for significantly less. For more information regarding commercial trucks, contact a dealer in your area today.