Buying a used truck is a wise investment that offers substantial savings over purchasing new. As a bonus, it will offer the same performance as a new vehicle at only a fraction of the cost. To find the best value, here are 5 tips that every buyer should know.
1. Set a Budget
Before you march down to a used truck dealership, a plan needs to be put into place. What is the budget, and is it realistic? Once you have a final number, the hardest part comes when you begin to look for the latest truck deals. Within the first hour you will find things outside of the budget that was already set. This is the biggest downfall of any potential purchase, and a trap that many fall into.
The budget scenario always starts with the common theme of ‘it is only x out of the budget’. What turns from a few hundred dollars can easily turn into thousands over your budget. None of this factors in the final price that can quickly turn into an additional thousand for taxes, title, licenses and other fees. It seems like a lot, but that is exactly why it is important to stick to a budget.
A budget should always be the total price you’re willing to pay for a vehicle with everything included. This not only gets rid of the guesswork with finances, but it helps out the salesman that wants to stay within your range. Even if you find the best used truck in existence, it should never change the hardline budget that you have in place.
2. Research Different Models
Not all trucks are created the same, even if they were made in the same year by the same company. This is especially true if you are buying used trucks that will have completely different options, miles and vehicle history reports. Unless there is a feature specific reason, looking at the variety of brands available is much better than sticking to a specific one. Look at what you need on a personal level, and that will become the framework of the used truck that will give you the most value.
For example, if you are going to use the truck for towing, then the highest towing capacity will be the most notable feature. As you go through the inventory of used trucks available, it becomes easy to eliminate any that doesn’t have the recommended towing capacity for your needs. By filtering models this way, you won’t make the mistake of getting enamored with unneeded bells and whistles.
However, a truck that is mainly going to be used for traveling will benefit from better gas mileage. There are even hybrid options for trucks that are becoming more popular as all automakers pivot to energy efficient vehicles. The point is that the main use of the truck should always be the research priority when looking for a new vehicle. Keep this in mind, and the purchase will always make sense.
3. Inspect The Vehicle
The most unhappy vehicle buyers in the world are the ones that consider the ‘eye test’ a full inspection. There are a ton of things that can be wrong with a truck that is missed without getting the help of a professional. Thankfully, shopping at a reputable used dealership bypasses some of the pains of buying another vehicle – but that still isn’t a reason to not inspect the vehicle. There are two ways to look at this, and they both involve not rushing into a decision.
- Do the inspection yourself. You don’t have to be a professional to do the basics of an exterior and interior inspection. Look for signs of wear and rust since it can point to bigger problems for the entire car. When the car starts up or powers down, do you hear any strange lingering noises? Is the check engine light on before you go for a drive? After the test drive, and upon starting the engine again, does a warning light come on? Sometimes the onboard computer won’t register faults until it has gone on a full ‘trip’. This varies by model, and is something that can be missed unless you know the ins and outs of that specific vehicle.
- Have a third party do the inspection. This is the safest route since it accounts for all variables that can be missed by a consumer. A mechanic will know what to look for, and can even provide you with key information on whether the purchase is worth it at the current sticker price. The only downside of a third-party inspection is that it takes time, and in a time sensitive deal could cost you a once in a lifetime deal.
4. What is The Vehicle History Report?
The vehicle history report is publicly available to any potential buyer. You can check ownership history, title status, service records and accident history. All of these things are important, and are a small piece of a larger puzzle if you’re willing to put it all together. For instance, a truck that has history in an area known for flooding should receive extra attention before committing to a purchase. And a used truck that was originally used for traveling has lighter miles than one that was primarily used for towing, even if the mileage between the two is similar.
5. Negotiate The Price
A common phrase used by consumers that cuts through all of the unnecessary sales pitches is OOD. Asking the ‘Out The Door’ price saves time on both sides, and is a great way to get eyes on the vehicles you want most. Use it as a tactic when you have at least two or more used trucks researched. This lets you instantly compare the best deal and move on to the inspection portion of the purchase.
An Honest Scenario
After following these five tips, you’ll have a used truck that will get the job done on a daily basis. There are a lot of things to consider, so don’t overburden yourself with unnecessary information. Remain patient, and a great deal will always be right in front of your face.
