3>3. Slower Depreciation
When deciding whether to buy an old or brand new truck Another factor to consider is the amount of depreciation. A brand new vehicle is depreciated by around 20% as soon as it’s driven away from the dealership. It could rise to 30percent within the first year. So, if you spent the equivalent of $30,000 for a brand new car, its value will likely decrease by $9000 after only 1 year. It is possible to significantly reduce the cost of depreciation if you purchase a pre-owned one-year old vehicle.
4. Additional Financing Options
Take into consideration your financing options when selecting between a new and pre-owned truck. There are plenty of used cars out there available for you to pick from. So even if the credit score you have isn’t good enough, there’s an option to finance which is appropriate for your needs. You’ll also appreciate an older vehicle’s less expensive prices for insurance as well as fewer registration renewals when compared with a brand new truck.
Even though a pre-owned vehicle may provide benefits, there are also some negatives. These drawbacks will help you make a decision about which one to choose: a used or new truck. Cons of purchasing an used vehicle are:
1. Limitated to no warranty
A used truck is typically offered “as-is.’ This implies that you’re solely accountable for any issues they may encounter. For example, if the battery fails driving to the fuel station following purchasing, you’ll be required to purchase a brand new battery from your pocket. While warranties are provided by certain dealers, they tend to be short.
2. There are very few options in terms of customization
Let’s discuss old or new trucks more. You can choose to make your vehicle custom for when you buy a new car. There are plenty of choices available to you, like auto wrapping as well as custom-colored. Also, you can have the option of putting in or eliminating extra features, like sunroofs.