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According to the Bureau of Transport Statistics, Americans owned 13.2 million trucks in the year 2018. Whether you opt for a new or a used one, trucks provide multiple functionalities given their hauling and towing capabilities.

Compared to used trucks, new trucks have one major setback, which is their market price. Unless you want to pay an arm and a leg for a new truck, buying a used truck at a lower price is a better option. The best part is that you’ll still achieve your intended goal at a relatively lower cost. 

Are you wondering whether buying used trucks is a good idea? This article clarifies the benefits of settling for a used truck in 2020.

It’s Pocket Friendly

This may sound like a no-brainer, but compared to buying new trucks, you will save significantly when you opt for a used truck. Most individuals and companies work with rather tight budgets when shopping for trucks. As such, it's a significant relief to save a few dollars when purchasing a truck.

Most new trucks come with the Manufacturer’s Suggested Retail Price (MSRP). This value is often higher than the average market price for a used truck. You don’t have the option to bargain when the manufacturer sets such a price as the minimum value. 

With used trucks, the cost is may not be cast on stone. You can bargain for a fair market value depending on your pocket. This makes used truck affordable for most potential buyers.  

Old Is Gold

Whichever way you look at this coinage, you can’t compare most modern designs with older truck versions. While most new trucks present an aspect of reliability, some may not be as durable. Some used trucks prove to be more durable than their newer versions even when they are the same model. 

Given the focus on economies of scale to cut costs, most automobile companies now struggle with quality assurance when mass-producing new trucks. However, older versions of trucks paid specific attention to quality standards and durability. Compared to many new trucks, you’ll achieve more durability if you settle for used trucks. 

Most new truck owners pay a premium for the pristine sedans, only to realize that they didn’t get value for the truck. The good thing about used trucks is that you get to compare with their versions feature-for-feature. This allows you to make an informed decision about its durability.  

Variety 

When looking for a truck, you want to shop around for an option that suits a range of your core needs. Just as you have a variety of prices, you'll also have a wide collection of options to decide from when selecting a used truck. This is because, over the years, there have been various truck models released into the market. 

Are you wondering, “Should I buy a truck that’s used?” Well, buying a used truck presents that all-important aspect of variety. 

Lower Depreciation Rates 

In five years, a truck loses around 60% or more of its initial value. As such, new cars will lose around 15% of their initial value as soon as they hit the tarmac for the first time. Most truck owners who opt for new trucks end up incurring this unnecessary depreciation cost.

Are you looking forward to buying used trucks? Your most significant advantage is that you won't have to incur additional expenses related to depreciation. Saving on depreciation is among the top tips to consider in your cheat- sheet guide to buying used cars. 

You Can Utilize Referrals When Buying a Used Truck

Most times, there are limited available information about new truck models in the market. However, when you opt for used truck models, you can ask for reviews. You'll likely get numerous referrals from experienced truck owners. 

Referrals are often honest and candid, making it easy for a new buyer to compare and contrast. The downside to new trucks is that you don’t have the luxury to counter check with relatives and acquaintances on issues such as durability. Opting for older options means that you’ll have more information to guide your decision. 

Quicker Loan Payoff  

Not every individual hoping to buy a truck can make cash payments. Most times, truck buyers depend on loans when making a purchase straight out of the car yard. 

Paying through loans may mean slower payoff plans. This is especially so when managing the mind-boggling cost of new trucks. 

When paying back a loan you took to buy a used truck, the payoff is often quicker. You don't have to spend as much time paying back for the loan in the long-term, considering that the actual price is lower. As a borrower, being able to pay off your loan sooner is an added advantage.

Lower Insurance Premiums 

Insurance is a necessary expense for any truck owner. The most expensive states for auto insurance charge around $2,878 per year. However, you might pay as little as $912 per year in some other states.

Insurance premiums tend to be higher for new trucks. This is due to the fact that new cars have a higher value in case of unforeseen accidents. Owning a used car reduces the insurance premiums significantly, considering that the actual cost is lower than a write-off.

A Used Truck Is as Good As a New One

Buying a truck is among the most complex decisions you’ll have to make at some point. Considering the value of this investment, getting it right is essential. Most people wonder whether buying a used truck is worth the trouble. 

These seven benefits listed in this article are some of the paybacks of buying used trucks. Our inventory of used vehicles offers you the variety you need to settle for a perfect match. 

Are you looking for used trucks in Milan, TN? Visit our page today.