Used Commercial Truck vs New Commercial Truck – An Overview

Whether you are buying a commercial truck for the first time, or you want to add some more for your business portfolio, you always have options to choose between used commercial truck and new commercial truck. The planning will also depend on what type of truck you are looking for. There are several vehicles you can pick that suit your business. Investing wisely in vehicles is also important, which is directly proportional to your budget.

If you have the budget to invest, then buying a new truck is always a good decision. You will enjoy the benefits of warranty and free servicing for a specified period or kilometers.

The new vehicle will also have an insurance coverage for one year from the date of purchase. You can as well choose your favorite color, accessories and registration number. You can start earning from the day one as the new vehicle will help in gaining customers’ confidence. Your business will grow since there will be no worry of the repairs and replacement of spare parts as long as it is in the warranty period. Delivering orders to far places will not be a problem since the new trucks come with reliability factors. Even the rates of interest for brand-new trucks are comparatively lower than those for used trucks.

The only drawback you have to bear with by buying the new truck is its depreciation. Even if the truck is made by the top manufacturing company, it still loses its value after being used for a couple of years. This feature is applicable to all light, medium and heavy duty trucks. You may also end up paying more than the actual cost to the bank if it is financed.

If you have limited budget, then buying used trucks can also bring some good business. The number of truck dealers dealing in used commercial vehicles are plenty. In fact, the market for used trucks in the U.S. is bigger than the new ones. The best thing will be to buy truck/trucks that is/are not older. Finding such vehicles will take time and research. Though used trucks have a higher depreciation value, they are still worth for commercial use. If the vehicle is properly maintained, it can still run for many miles.

You will also receive a six month or one-year warranty on the engine and other parts if you have purchased the vehicle from a truck dealer. This is because dealers have a standard measure of testing and inspecting the vehicles that they apply while buying it from the first owners.

However, whether the used truck is in a warranty or out of the warranty period, sometimes the vehicle will be off the road because of some major technical problems. This may affect your business and the total cost you paid for the truck will be as good as the new one.

Hence, used commercial and new commercial trucks both have their own advantages and disadvantages. A brand new vehicle requires huge investment, but it will provide you a peace of mind and major support to your business. Used vehicles, on the other hand, are also good, but have a limited warranty period. There is also a risk of losing business if problems start popping out.