If you’re in the market for a new vehicle, then you have probably noticed how expensive buying even a relatively small new truck can be- and the sticker price is just one part of the equation. New trucks are not things that you usually buy outright – you’d tend to buy them on finance, and that means you will end up paying interest on them. Used truck wholesalers like QLD Trucks can get you pretty good deals on finance, always beneficial to shop around.
In addition, new trucks – while they look really nice and will inevitably handle like a dream – are expensive to insure, because the insurance cost is based on the value of the vehicle. So, buying a used truck can save you a lot of money.
Why Buy Used?
Let’s face it; trucks are built to last. When you buy a used truck, you’re buying something that someone has had for a few years, and that they want to upgrade now. As long as the truck is in a good state of repair, it will have many more years of life left in it, perhaps even a decade of decent driving. Unless your ‘image’ is a vital part of your job, there’s really not that much extra benefit to driving a new truck compared to a used one.
Vehicles depreciate by a huge amount in their first year. When you buy a brand new vehicle, you essentially end up throwing away a huge amount of money simply by getting behind the wheel and driving it out of the lot for the first time. After that, they lose a fair amount of value over the next couple of years, but the curve does slow down. In fact, if you were to buy a used truck that was several years old, take good care of it and maybe replace a part or two, if the time came to sell it on in a few year’s time, you might even find that it has held most of its value, so the cost for you to upgrade to a slightly newer model would be minimal.
You would save a lot of money on insurance by driving an older model of truck, and there’s another benefit too – those older trucks are less appealing, for the most part, to thieves.
Caring for Older Vehicles
Perhaps the only real downsides to working with older vehicles is that they do need a little more care and attention. Brand new vehicles usually have a warranty and a service agreement. The good news is that you can usually get a similar deal for used trucks if you buy them from a reputable dealer – especially if you run a company and have more than one truck. With those service deals, you can be confident that your truck will be kept in tip-top condition, and that you will be covered should it ever break down.
The Ownership Question
Finally, there’s the issue of ownership. When you buy a truck on finance, you don’t really own it yourself. Missed payments are an issue, and if it’s in an accident then yes, you’re insured and the insurance will pay off the loan, but it’s a messy and stressful situation.
When you own a truck you have more freedom. It is yours to drive, rent out, paint, modify, or otherwise use as you wish; within the realms of the law of course. The site Yelp! can help you find truck dealerships and wholesalers, be sure to check the customer reviews to get the best dealerships.
Purchasing a used truck is a great way to get started building a fleet, or to free yourself from the financial burdens commonly associated with truck ownership. It gives you freedom and a sense of pride in having a vehicle to call your own. If you’re serious about buying a truck for your business, check out the Australian GST rules to make sure you know how much tax to expect.
Check it out, you could pick up a beauty like this one! 🙂