You want a shiny new truck, and don’t want to deal with the upkeep of a used truck. Or perhaps you’d rather not put down the money for a new truck and begin finding better bargains on used trucks. There are, however, downsides to both new and used trucks, and you should consider which fits best with your lifestyle and financial situation.
Test drives on used trucks
You don’t have to be a master mechanic to look and listen for a few key things when taking a used vehicle for a test drive. The most important thing is to look underneath the vehicle and see whether anything looks or feels wet. This is the quickest way to discover an oil leak. If you don’t know what the substance is from a distance, wipe it off and get a closer look; water, brake fluid, or oil will not harm you. While you’re driving, look in the rear view mirror to see if the exhaust has any color to it. If the exhaust is black or pale white, the vehicle most likely has a major problem that the dealer is unwilling to fix, and the dealer is trying to unload the vehicle on an unsuspecting consumer. Don’t be afraid to have an outside mechanic check over the used truck before you sign an agreement, because some problems (for example, if the vehicle handles a bit jerky) may require a minor adjustment, or even a costly, major undertaking (such as a transmission rebuilding).
Advantages of buying a used truck
- The purchase cost is usually much lower.
- There isn’t a market shortage of used trucks, so the selection is good and you can get basically any model you’re looking for.
- Mechanics have been working on the older trucks for longer, so they are more familiar with them and can readily diagnose and fix problems.
- Older technology can sometimes be cheaper to repair, labor-wise.
- Replacement parts are more accessible and less expensive.
- If you are exporting the truck, the import taxes can be much lower.
Disadvantages of buying a used truck
- Used trucks are usually sold without any type of warranty.
- Because the vehicle is older, it will most likely have higher maintenance costs.
- A used truck is more prone to have breakdowns or need replacement parts.
Advantages of buying new trucks
- You can order the truck to the exact specifications you want, so that if you want leather seats, a sunroof, a specific body color, power locks, and power windows, you can get them.
- You will receive full factory warranties and can purchase extended warranties.
- Maintenance costs will be minor (for example, oil changes and tune-ups).
- Reliability is ensured.
Disadvantages of buying new trucks
- The purchase cost of new trucks is high, even with dealer or manufacturer rebates and specials.
- First year depreciation for new vehicles is very high (this means that your truck will lose some of its value as soon as you drive it off the lot).
- New trucks typically have to be ordered, and if the model is popular, you may end up waiting a while.
- Replacement parts are expensive, but may be covered by warranty.
- The insurance for newer vehicles is higher
- Mechanics will be less knowledgeable about newer models, so you may have higher labor costs if something needs to be fixed (for example, if you need to have body work done after a car accident).