Purchasing a semi can be a boon for an independent owner-operator, since it provides maximum flexibility, control, and income potential. But purchasing a semi truck also represents a significant investment in your business, whether you have a single truck or want to build a fleet. New truck costs continue to rise, and much like the auto industry, depreciation after purchase represents a sharp decline that can be shocking to those who have never experienced it before.
If you’re in the market for a semi, consider finding a cheap used semi for sale rather than purchasing a brand-new rig. There are plentiful cheap used semis on the market that can meet your specific needs at a price point that is much more agreeable than the cost of a new truck. While the cost savings do represent one of the primary reasons for considering a used semi over a new one, there are other benefits to purchasing a cheap used semi truck for sale instead of buying a new one fresh from the lot. Keep reading to learn more about a few of the many reasons you should consider buying a used truck instead of a new one.
Significantly Lower Cost
The primary reason that many people choose used semis over new ones is the reduced cost of purchase when buying used. A new semi can cost upwards of $150,000 new, which means buying a new truck is a substantial investment. However, that same truck could be purchased a few years later for half that price. If the maintenance records are available and the truck was responsibly maintained, you could get a like-new truck for little more than half the cost of the same truck brand-new.
Save Yourself the Depreciation
Depreciation is the decline in value of a semi beginning at the time of purchase. Like conventional automobiles, semis are prone to a startling decline in value only a short time after being purchased new. In fact, in some cases the value of a new truck could drop from $150,000 to half that amount in only five years. That depreciation is a significant loss for the purchaser of the truck, so it’s better to let that depreciation hit someone else’s bottom line by purchasing a used truck.
Get More Options and Power
Semis come in a dazzling array of options, including interior details, standard equipment, sleeper cabs, and powertrain packages. At any given time, there are more used trucks on the market than new trucks, so you’re more likely to find the combination of options you seek in the used market. You could order a custom new truck to your specifications, but that could get costly. Instead, why not probe the extensive used market to find a truck that most closely matches your requirements?
Assume Less Risk
Because the purchase of a semi is a large investment, it entails some degree of risk. An owner-operator who drops $150,000 on a new truck is locked in, and if the business fails, that owner-operator will be on the hook for the cost of the truck. Even if the owner-operator is fortunate enough to sell the truck before folding, the depreciation will levy a devastating blow financially. When you buy a used truck, you’re taking on less financial liability, therefore, your risk is mitigated in the event things don’t work out as planned.
If you’re in the market to purchase a semi truck, be sure to strongly consider purchasing a used truck rather than a new one. By buying used, you can save yourself money, assume less financial risk, and save yourself the depreciation hit while still finding a like-new truck that meets your needs. To begin your search for a quality used truck, visit Truck Mart LLC online or visit them in person at 26 Truck Tech Way, Shippensburg, PA 17257.