The best used trucks will be those with low mileage that still look great and handle well. A truck with an odometer reading between 35,000 and 60,000 miles may still have another 150,000 to 200,000 of potential driving miles left. Trucks are designed for labor and utility and a solid purchase regardless of their age or odometer reading. There are some exceptions to this, however; with so many options on the market, it is important to ensure you deal with a reputable dealer, and the vehicle has the proper certification.
Better Vehicle for Less
Purchasing a used vehicle can provide all the perks of a new vehicle for as little as half of the truck’s original price. The 2014 model that might have cost $58,000 might be listed for $26,000 after two years of road use. The older, pre-owned vehicle may have many of the same great features as the new model, but it carries a significantly smaller price tag.
Depreciation
The average new vehicle depreciates by 30% in its first year. When the vehicle has reached the end of its second year, the depreciation is far less giving the used truck buyer the option of selling the vehicle for the approximate value they owe. The depreciation is also responsible for the lower price of a used vehicle.
Warranties
Many of the used trucks available now have a warranty that covers the vehicle for 60,000 miles or 6 years, and some of which can be transferred by the previous owner to the buyer. If the truck is a certified pre-owned, the buyer will be allowed to purchase a new warranty for the used vehicle.
Better Insurance Rates
Previously owned vehicles are cheaper to insure than new cars or trucks. A truck is considered a sports vehicle because of its versatility. Sports vehicles carry higher premiums due to the activities the owner may participate in while using it. The best part of buying used trucks as opposed to new is that the vehicle costs less and will be insured according to its value.
Tax, Title, and License
The price of the vehicle will also figure into the registration fee. Registration fees are a portion of the tax, title, and license due when signing the purchase agreement. These fees are based on the price the new owner paid to purchase the vehicle. The average registration fee is approximately 10% of the vehicle’s overall costs.
Buying a previously owned vehicle will allow the new owner to have more trucks are a great option due to the purchase price and fewer out of pocket expenses. A used vehicle will give the owner the option of driving it until it no longer serves their needs or selling it for the amount owed on the original loan.