SECOND HAND TRUCKS VS. NEW: WHICH IS THE RIGHT CHOICE FOR YOUR BUSINESS?

Second Hand Trucks vs. New: Which is the Right Choice for Your Business?

Second Hand Trucks vs. New: Which is the Right Choice for Your Business?

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Investing into the right equipment and tools is important when trying to obtain the ideal outcome for your company. This entails determining whether to buy new trucks or second-hand trucks for your operations. Each of these options have their own benefits. How it gets exercised really depends on the particulars of your company and the budget. This article aims at analyzing second-hand trucks and new trucks so that you are able to come to an informed decision.


1. Cost




Cost is one of the key areas of concern when trying to decide on buying used trucks. As they go for a much less price compared to buying new ones. Naturally, trucks of this sort have been in use and therefore, might be a bit damaged. Even so, they are sound and can actually be of great use to you while at the same time allowing you save a good amount of money. New trucks on the other hand are expensive because they are new. Therefore, if you have a rough estimate of the budget you want to set, a second-hand truck can be the better option.


2. Depreciation




The depreciation value of a truck is another factor worth looking into, more so at the time of buying. From the time a new truck leaves the dealership, its value begins to go down, in some cases dramatically. In the first year itself, these vehicles lose between 15% and 20%. So if you are considering buying a new truck and don’t plan to keep it for a long period of time. You may as well assume that you are going to lose quite a lot of money in the resale. Second-hand trucks however, are able to hold their value much better over the long term due to their low depreciation standards.


3. Reliability




In terms of reliability, it is likely that new trucks will perform better as they are built to the latest standards and technologies without any prior history of use. This means that newly constructed trucks have a reduced chance of breaking down, hence less mechanical issues and easier operations. On the contrary, resale trucks do not perform as well and are likely to break down more often requiring more maintenance. That being said, a truck that is used but was well maintained by its owner will still make for a good and trustworthy option.


4. Variety




Many people say that new trucks have a more diverse selection than second-hand trucks. This is because new models with new features are regularly introduced in the market. However, this does not mean that there are limited choices when it comes to second-hand trucks. As more and more people opt for used commercial vehicles, it has become a lot easier to find vehicles of various makes, models, and ages that suit the business.


5. Resale Value




Besides depreciation, it is also essential to consider the resale value of a truck. Since new trucks do not last long, they lose their value which can make it hard to resell them for a reasonable price. Older trucks however are able to hold their worth during resale as they have reached a point where they have lost most of their value for the first time. This translates to getting back a substantial portion of your money when you are ready to sell it.



Buying second-hand trucks have their advantages and disadvantages just like buying brand new trucks. So in the end, it is all the matter of your requirements, budget and priorities for your business. If the cost is the matter of concern, perhaps a second hand truck would be the better pick. But, if all the new features and durability is what your operations require, then purchasing a new truck would be worth it. Thus before making the final purchase, evaluate all the factors so that your business can benefit the most.

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