New vs used loan

[brutis77]

I have heard that buying a used truck at say 100 grand that is a few years old isn't a good idea when having a loan compared to buying new and having a warranty and more years to pay. I can remembr my father telling me a story about this when he bought his new 88 superliner, he could buy a new truck for the same monthly payment. Has anyone delt with this lately? Is it still 3 yrs on used and 5 on new?

[Superdog]

I've never had trouble borrowing money for 5 years on used.

[blackdog2]

Interest points are usaiy higher used equpment.

[bbigrig]

Damned if you do, damned if you don't.....had the same dilemma and decided that we buy used for regional work and new for long work as the long work trucks are putting over 200,000kms per year.

On new trucks the cost per mile should be lower, more fuel efficient and have a warranty. Plus you get that new truck smell.....woohoo!

You can also get burned on the new truck side like waiting almost 2 weeks for injectors because Mack and Volvo don't have enough supply for the demand!

2 weeks of no income on a new truck is a huge hit in the pocket. That and you need a pretty good down payment on a new one to make it affordable per month. New engines can fail too. No one pays for your downtime on your new truck.

I would go used and rebuild the friggen thing before it hits the road. You may have more small repair issues every weekend to tend with then with a new truck but small price to pay for rolling down the road in a better built Mack of the pre-90's. Finance the rebuild, go nuts! You will still come out saving coin from buying a used gem. If you buy new you will have more of a value in the asset once you finish paying for it. Your new one will always be worth more then your old one by the time you finish paying for both if the loans are for the same term.

Most important, buy something you will take pride in driving while being able to afford paying for it.

I know there is a lot more that can be said here......It can be a pretty deep and argumentative subject new versus used.

Get what you have always wanted.

[mackniac]

Damned if you do, damned if you don't.....had the same dilemma and decided that we buy used for regional work and new for long work as the long work trucks are putting over 200,000kms per year.

On new trucks the cost per mile should be lower, more fuel efficient and have a warranty. Plus you get that new truck smell.....woohoo!

You can also get burned on the new truck side like waiting almost 2 weeks for injectors because Mack and Volvo don't have enough supply for the demand!

2 weeks of no income on a new truck is a huge hit in the pocket. That and you need a pretty good down payment on a new one to make it affordable per month. New engines can fail too. No one pays for your downtime on your new truck.

I would go used and rebuild the friggen thing before it hits the road. You may have more small repair issues every weekend to tend with then with a new truck but small price to pay for rolling down the road in a better built Mack of the pre-90's. Finance the rebuild, go nuts! You will still come out saving coin from buying a used gem. If you buy new you will have more of a value in the asset once you finish paying for it. Your new one will always be worth more then your old one by the time you finish paying for both if the loans are for the same term.

Most important, buy something you will take pride in driving while being able to afford paying for it.

I know there is a lot more that can be said here......It can be a pretty deep and argumentative subject new versus used.

Get what you have always wanted.

after two three fart the SMELL of new is gone

no truck today will outlast any old Mack's

buying new vs used is always an old dilema ( remember the egg or the chick) .

[GearheadGrrrl]

I pretty much agree with BBIGRIG- If you're going to be running the truck 24/7/365, buy new. If you're going to be running just one shift a day, consider used, but don't buy something you'll have to spend half your time fixing instead of making money with. If your running the truck just occasionally, don't even consider new- The depreciation will eat up all your profits!