Whether you're a looking to add more trucks to your fleet or you're a new owner-operator, you have an important choice to make before you begin shopping for semis: Should you purchase a new or used truck? While a new semi will probably have more interesting features and will give you that sense of satisfaction that comes with purchasing a new vehicle, there are numerous advantages to purchasing used semi trucks. So, before you start looking at trucks, take these things into consideration.
Obviously, it costs less to purchase something used than something new, but it really matters when you're comparing new and used semi trucks because there is a substantial difference in the price. A new or almost new semi truck will cost you upwards of $100,000, but you can purchase a truck that's seven years old for between $40,000 and $60,000. On average, semis that are between 10 and 15 years old cost anywhere from $35,000 to $45,000.
Lower Operating Costs
The difference in the sticker price isn't the only way purchasing a used semi saves you money. When you purchase a used semi instead of a new one, the amount of taxes you pay at the time of purchase is lower, you won't lose as much money as the semi depreciates, and chances are, the cost of your insurance will be cheaper as well. All of these things add up, and the less they cost, the more you'll profit.
You Get More For Your Money
The lower price tag on used trucks allows you to get more bang for your buck. Top-of-the-line semis typically come with more features and have more power, which will increase driver satisfaction -- and in turn, your employee retention rate. So, instead of shopping for new, mid-range models, shop for used high-end models.
Many owner-operators want to purchase new semis because they assume that they'll have less mechanical problems with the truck. However, you can easily find used semi trucks that are in great shape internally. If you're worried about the condition of the truck, have the truck inspected before you purchase it. Also, try to find a used semi that has a detailed history available. The more you know about the truck's history, the easier it is to make an informed decision.
The fact is, buying a used semi truck gives you more bang for your buck. Not only does it save you money upfront, the operating costs are lower, and you can purchase a higher-quality truck. So, before you look at new models, try to find a used semi truck that fits all of your needs.
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