When it’s time to get a vehicle replacement, the first question you have to ask yourself is whether to buy new or used. While it may be tempting to opt for something new – it’s shiny, it smells nice, and no one else has ever used it! – there are several benefits to buying a used Toyota truck. Here are just three advantages:
Money saved. It’s no secret that used Toyota trucks are less expensive up front than brand-new vehicles. That’s because new cars typically experience their greatest loss in value during the first 12-18 months after purchase. In fact, experts estimate that within the first three years, new vehicles depreciate up to 73 percent in value! Also, if you buy from a private party, you don’t necessarily have to pay the same taxes and fees that are applicable to a new vehicle fresh off a dealership’s lot. Finally, older vehicles usually come with lower insurance rates and annual registration fees.
More choices. When you buy a new truck, the only option is to head to a dealership. However, when you purchase a used Toyota, there are several choices – which means you can tailor the experience to your own needs and budget. For example, you can buy a newer used vehicle or older used vehicle that’s in good shape. Either way, the previous owner has absorbed a lot or most of the depreciation in value before you buy it.
If you shop at a dealership, you also have the option of regular used or certified pre-owned. Certified Toyota used trucks come with a 12-month/12,000-mile limited comprehensive warranty and have all been put through rigorous inspections – so you can have peace of mind that the truck you’re buying is in nearly new condition.
More flexibility in negotiating. The price on a new vehicle is fairly set – oftentimes, a salesperson won’t fluctuate much. However, if you’re buying a used vehicle, you can use that to your advantage, especially if you’re willing to pay cash for a vehicle with some obvious flaws (e.g., high mileage, a tear in the seat, etc.). You can sometimes get great deals on trade-in vehicles, since salespeople often turn around and sell those for a lot more than they gave the previous owner for them.