If you’re thinking about buying a used van to use in your business, you might be feeling torn between the pros and cons of buying new or used. So, don’t worry in this article, we mentioned all the important points regarding the cons and pros of buying used vans.
If you’re thinking about buying a used van to use in your business, you might be feeling torn between the pros and cons of buying new or used. Newer vehicles can come with lots of extras, such as satellite navigation and Bluetooth connectivity, but you also have to deal with depreciation costs as soon as you drive them off the lot.
Used vans on the other hand are cheaper, easier to fix when something goes wrong, and will only depreciate over time if you buy from an authorized dealer. When it comes down to it, buying used might be your smartest option after all.
Buying used is one of the best ways to save money when it comes to purchasing vans. Depending on age and quality, you can find second-hand vehicles for as little as half their original price. This means that buying used could be exactly what your business needs to allow you to be more competitive with prices or give you extra resources in other areas of your business, like growing your fleet or advertising.
2) Easy Maintenance
A used van will require less maintenance than a new vehicle, so it’s cheaper to own. Even if you buy from an individual and spend money on maintenance after purchase, your used van will still likely be cheaper to run in total than any new vehicle. The reason is simple: new vehicles lose a significant amount of value as soon as they’re driven off the lot—and even more in year one—while older vehicles do not suffer from such depreciation.
3) All-round Safety Features
New cars are usually safer than used ones, but new cars have some features that older cars simply don’t. For example, airbags and anti-lock brakes will come standard on most new models. When you buy used, you can opt for aftermarket safety features. Anti-theft systems or sidebars aren’t foolproof (or cheap), but they do help prevent accidents. In addition to safety measures, it’s important to make sure your insurance is up to date and covers you in case of an accident or theft.
One thing you won’t have to worry about when buying a used car is depreciation—your investment won’t suddenly be worth much less than when you bought it. Most people who choose to purchase a used vehicle plan on keeping it longer anyway. After all, why buy something brand new if you don’t need to?
Buying used also means paying less upfront, which can save your business cash and keep more money in your pocket. However, there are things you should look out for when purchasing any second-hand vehicle: Make sure there isn’t excessive wear or damage; ask how many miles were put on the vehicle before it was traded in; take it through a mechanic before signing anything, and always get a receipt so that you’re covered by warranty if anything breaks down shortly after purchase.
Lastly, remember that cars depreciate quickly over time—especially those with lots of miles already logged!
4) Inbuilt Fuel Efficiency
The trade-off with new vehicles is usually more fuel efficiency and more reliability. New vehicles can also be more of a drain on cash flow, especially if you’re buying from an independent seller as opposed to a manufacturer. Regardless of whether you’re looking at used or new vans, it’s important to have proper maintenance checks, so that any possible problems can be fixed before they get out of hand.
That way, your van won’t cost too much to run in terms of time or money. (Yes, there will still be expenses.) And if you need help figuring out what type of van is best for your business or know where to go when it comes time to buy one, don’t hesitate to ask!
5) Better Resale Value
If you’re like most business owners, your fleet is an important part of your assets. The first thing to consider when investing in business vans is resale value. Purchasing used vans ensures that there will be no depreciation from day one. If you ever do want to sell your vehicles or transfer them to another company, you’ll get their original cost back on top of what they are worth now.
Used vehicles hold their value better than new ones, which means they could be a smart investment if you plan on keeping them for more than five years.
ABOUT THE AUTHOR: Car-removal