You don’t buy a pickup truck to trade it in for a new one in a year or two. Most people who buy pickup trucks keep them for years – sometimes over a decade. But, that is only partially due to how reliable the vehicle is. A pickup truck is a major investment. Potential buyers who have limited monthly budgets find it rather difficult to get a loan with affordable monthly payments unless they are willing to stretch the term of the loan. This causes them to turn to the used car market, where prices are usually a lot lower.
But, while buying a used truck may be better for your budget, there are some really good reasons why a new pickup makes a better choice.
Not All Used Trucks Are Cheap
If you compare the price of a new and used pickup truck that’s of the same trim level, the new truck will likely cost more than the old one. Even if you buy a pickup truck that is 2-3 years old, it’s likely that you will be able to save money on your monthly loan payments.
That said, the gap between new and pre-owned pickup trucks is not really as large as it once was. One of the effects of the Great Recession is that not as many trucks are entering the used-vehicle market anymore. Given this, there’s just not enough supply of used trucks to meet the demand – which causes prices to stay high. So, if you are looking to buy a truck, you may be better off looking for an inexpensive new truck. Keep in mind that new trucks will also have a warranty, which means you may end up spending a lot less on repairs and maintenance.
New Trucks Are Safer
Pickup trucks have evolved over the years. Many trucks today perform much better in the front overlap test. What this essentially means is that the impact force is transmitted to a much smaller portion of the vehicle’s body, and, thus, offers better crash protection. Sometimes, the safety ratings of trucks increase considerably in just one year.
Keep in mind that trucks are not the safest type of vehicle. But, if you are looking to purchase a truck, you cannot discount the safety features present in the new models!
