Which factor has more influence on your truck buying decision, the value or the cost? While value mostly stands for new trucks, the used trucks provide a cost advantage. Most finance advisers recommend to buy trucks that have been used before for a number of reasons, such as: the used truck have low depreciation rate, they come with lower price when compared with the new trucks, and you have a wide range of different models on the market. While the new trucks are great deal for some people, others cannot afford and don’t have the resources to buy brand new trucks. Which option works best for you? Are you looking for a value or low cost? Here’s how you can benefit if you buy trucks that have been previously used.
Buying a used truck is the best thing you can do. Beside saving a lot of money, there are many other advantages that you can gain if you decide to buy trucks that have been used before. Let’s say that you have just bought a new truck. Do you know how much money you are going to lose if you decide to sell the truck after some period? The truck’s value diminishes very quickly as soon as you take the truck from your local truck dealer. But the percentage can even get higher over the years. With used trucks, you can get almost the same resale value if you decide to sell it.
Depreciation is a big factor that needs to be closely considered when on the market for trucks. Being the first owner of a truck means that you will feel rapid value depreciation over the first years. Usually, trucks lose over 45% of their value in the first three years, and over 20% over the next three. It may not apply for all truck models, but rapid depreciation is something you certainly want to avoid. People who decide to buy trucks that have been previously owned are those who think carefully before making any final decision.
The best way to determine the real value of a particular truck is to check its log book. This way, you can learn more about the condition of the truck that you are planning to buy, and also you will check the truck’s history in terms of damages and frequent repairs. To calculate the value more precisely, you need to know the condition and the mileage of the truck. The market for used trucks is very big, and with basic understandings you can find used trucks in very good condition.