It is an age old question that small fleet managers and owner/operators have asked themselves for ages: Should I buy a new model truck? There are pros and cons to buying a new truck or a used truck, but the sales of new big rigs on the rise this year, let’s take a look at some of the pros and cons of buying a new model truck.
Benefits of Buying a New Model Truck
- Comprehensive Warranties. In order to remain competitive in today’s market, big rig manufacturers are offering better warranties than ever. These extensive and lengthy warranties are designed to cover most issues or damages that could occur on the road. For many owners and operators, this provides welcome peace of mind while on the road.
- Cost Efficient. Upfront, a new truck is going to cost significantly more than buying a used rig. There is no getting around that fact; however, this initial cost is offset by the fact that you will be saving a considerable amount of money on the repairs and maintenance that a used truck would require. Purchasing a used truck, as opposed to a new model truck, is always a gamble.
- Full Knowledge of Rig’s History. This is one of the primary reasons why drivers prefer to buy a new model truck. Used trucks almost always have unknown issues, and you do not know its prior history of issues and repairs. When you purchase a new model truck, you are 100% in control. If you take proper care of the truck, then you can rest assured that it will have a long, productive life.
Who Buys New Model Trucks?
According to Ray Haight, a former driver turned transportation consultant, purchasing a new model truck may be right if either of the following criteria apply to you:
- You are an experienced driver who knows what you need from your rig in terms of capacity and power.
- You have saved a significant amount of capital to invest in buying a new truck.
- You know what to expect to make in terms of salary.
- You are confident that you will remain in the trucking industry for the long haul (no pun intended!).
If you have concerns about how you are going to pay for your new rig in the coming months, or are uncertain for how long you will be staying in the trucking industry, then your best bet is to purchase a used rig, instead of a new model truck.
Do Your Homework
Although there are many benefits associated with buying a new model truck, ultimately, only you can determine whether or not it is the right decision. Do your homework. Research what local dealerships have to offer. Talk to a professional salesperson in person. Schedule test drives. This way, if you do decide to buy a new model truck, you will be well-equipped to make an informed buying decision.