708-467-7181     16425 Van Dam Rd., South Holland, IL 60473

 

 

Whether you're new to the trucking industry or you've been driving for years, making the decision to purchase a semi-truck comes with a list of technical questions and factors to consider. And one of those questions is whether to buy new or used. A lot of truckers might admit to wanting a new model in order to enjoy all the modern technology and whistles they've ever dreamed of. But you'd be surprised at what a used truck can offer, too. Here are some advantages of buying a used semi-truck over a new one.
Price
The most obvious advantage to buying used is the price of course. Used semi-trucks are significantly cheaper than new ones. Depending on where you shop, as well as the age and mileage of the used model, you could theoretically get 2-3 used semi-trucks for the same price as one new truck.
A brand-new semi will set you back over $100,000. And trucks that are a few years old will have a price tag that hovers around $100,000. Seven years later, that same truck will run $30,000-$40,000: a significant drop.
Imagine taking the money you saved and putting it towards your business, such as marketing and client acquisition, or even investing in some truck "extras" like new tires or updating the sleeping quarters.

 

 

Depreciation
When you buy a brand-new semi, it depreciates in value as soon as you drive it off the dealer, just as a new car does. And most of the depreciation that follows happens within the first months.
When you buy a used truck that's been "around the block" for several years, depreciation no longer becomes a real issue, making your investment in a used truck much more solid. In fact, used models hold their value as time goes on, more so than a new truck does.
This becomes a huge advantage when it comes time to sell, particularly if you have to sell soon after buying; you won't take as much of a monetary loss as you would when trying to sell a new truck.  
 

 

Thinking about pushing your buying decisions into 2020? Consider the benefits of receiving this year’s bonus tax depreciation if you purchase a used semi truck before year-end.
The Tax Cuts and Jobs Act, signed on December 22, 2017, greatly enhanced bonus depreciation opportunities available to businesses in the market to buy equipment. In 2019, taxpayers can elect a 100 percent bonus depreciation deduction under either IRC Section 179 or 168(k).

Bonus Depreciation
When your business typically purchases equipment items, it can write those items off a little at a time through the depreciation. There were two enhancements under 168(k) that were not previously available or within Section 179, which are:
There is no dollar limit on the amount of property you can purchase that can qualify for the bonus depreciation.
This deduction applies to both new and used equipment. We have a great selection of used semi trucks.