Should I buy a new or used truck?

Posted on Tuesday, October 4, 2016 - 15:34

In lines with official statistics released by the Australian Bureau of Statistics, the numbers of registered vehicles in Australia increased in all territories and states. Simultaneously, an Emma Report indicates that 10 percent of Australians intend to purchase a new car in the following 12 months. On the other hand, many Aussies may consider the option of buying a used truck instead of a new one, as a means to save money.

Thus, is it recommended to purchase a new or old truck?

To begin with, the vehicle should be fitted to your specifications, while providing good value for the money paid. At the same time, inspecting the truck most attentively is primordial, to establish whether it’s functioning accordingly or not.

Consider the following aspects before making a decision.

Do you wish to save money?

An official Emma Report clearly highlights that Australians are particularly conscious of the prices they pay for their cars. That being considered, many prefer purchasing used vehicles. Establishing a budget will prevent other costly vehicles to distract you.

If your purpose is to save money, the good news is that you can find used trucks in suitable conditions, at attractive rates. Who knows, if you’re really lucky, you may get one for half the price of a new one, and that is a sizeable discount, isn’t it?

For example, the approximate cost of new trucks in Australia is estimated at $150,000. In the meantime, the price for a used truck drops by $50,000. Therefore, the difference is worth considering, in the case in which you actually find a truck that is an excellent alternative for your transportation needs. ( Checkout vehicles for sale on Gumtree)

However, in spite of the price discrepancy, it’s primordial to ensure that the condition of the truck is appropriate, as you don’t want to spend a small fortune on repairs.

Prioritise your needs

After you have established a budget, you should assemble a list comprising of the features that are fundamental for your needs. For starters, could your budget support to purchase a new truck? Ask yourself, how do you plan on using the truck? Is it meant for personal or commercial purposes? Do you typically drive on unpaved roads, or on highways? By prioritising your needs, you’ll know what to look for while shopping.

Depreciation costs

In spite of how prestigious and good-looking a new truck may be, after a couple of years of usage, its price will suffer a significant reduction. As a matter of fact, once you drive your car off the dealer’s lot it begins to depreciate. Hence, considering this aspect, purchasing a used car is a better alternative since it diminishes the depreciation costs.

Quick statistics

All in all, purchasing a new or a used truck is up to you. At the end of the day, your budget and priorities are elements you should consider before making a decision in this respect. What are your thoughts on the subject? Did you ever consider purchasing a used truck in favour of a new one? Why?

  • According to this source, the truck dealers industry has experienced steady growth in the past five years.
  • From 2011-2016, the industry revenue rose by 3.3 percent and has reached $4.4 billion, since consumers are open to investing in new, expensive trucks.
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