Buying New vs. Used Trucks: A Shopper’s Guide

If you’re one of the millions of people who buy a vehicle every year, you know that there are a lot of big decisions that need to be made before you make your final purchase. One of the biggest decisions is whether you want to buy new or used (or pre-owned, as we like to say in the business). 

When considering whether to buy new or used truck near Destin, it’s best to weigh the pros and cons of each. Here, we’ll break it down issue-by-issue to help you decide which is the best move for you. 

Price 

First, let’s get the obvious one out of the way—a used truck is pretty much always going to be cheaper than a brand-new one. Because of the lower price tag, buying a truck that’s a few years old can allow you to step up to a nicer model with more features. So, if you have your heart set on buying a Ram Limited with the heated seats and killer sound system, going pre-owned can allow you to do so more affordably. 

Financing

Since a used truck is less expensive, you’d probably assume that the monthly payments will be way cheaper, and you’d be largely correct. But the initial cost isn’t the only thing to consider. 

New vehicle loans typically come with a lower interest rate than used vehicle loans. This is because new cars are seen as a safer investment on the lender’s part, and it’s easier to estimate the value of a new car over time. 

According to a recent article by MarketWatch, the average APR on a new car loan in 2024 is 7.18%, while the average APR on a used car loan is 11.93%. That’s nearly a 5% swing, and that means used car buyers may end up paying significantly more in interest over the course of the loan, even if the monthly payments are still lower. 

It’s also worth noting that manufacturers often have special offers and incentives on new vehicles, which can offset the cost or lower interest even further. 

Insurance

Because new trucks are worth more and can sometimes cost more to repair, insurance on a brand-new vehicle may be more expensive, although the difference tends to be pretty slight, averaging only about 100 bucks per year. 

Depreciation 

One of the main downsides of buying a new truck is the fact that it’ll quickly lose a good chunk of its resale value in the first year. However, not all new vehicles lose their value at the same rate; certain types of vehicles like trucks tend to hold their value better, and specific brands like Jeep are well-known for holding value as well. 

On the other hand, a pre-owned vehicle has most likely gotten through the most significant period of depreciation, which means its value will remain much more stable over time. 

Condition 

By virtue of being brand-new, a new truck is inherently less likely to have any mechanical problems. 

When you buy a used truck—especially one with high mileage—there’s a chance that it has an issue that the previous owner didn’t disclose, and dealerships don’t always catch these, which is why it’s important to do thorough research when buying used. 

Of course, you can have the best of both worlds by buying a certified pre-owned model, which is a used truck that’s still in excellent condition and has been inspected by a certified service center. 

Selection

When you shop for a used truck, it can sometimes take a while to find the exact model you’re looking for, especially if you’re concerned with things like paint color and option packages. If you find one that you mostly like, the dealership may be able to add certain features for you, but it isn’t guaranteed. 

Buying a new truck means that you can fully customize it exactly how you want. Dealerships also normally carry a far wider selection of new inventory, so the chances of finding the one you want on the lot are higher. 

Features 

Since trucks are constantly improving over time, newer models tend to have the latest and greatest gadgets and tech. A new Ram truck is more likely to come with features like Ram Digital Key, wireless device charging, and the most up-to-date infotainment amenities. 

Safety 

More modern vehicles are also much more likely to have the latest driver assistance features, which can greatly improve safety. However, many pre-owned models also have a solid selection of ADAS, and they’re just as safe as new models. 

Unless you’re buying something really used—think pre-antilock brakes—both new and used trucks are equally safe. 

Warranty 

New vehicle owners generally enjoy the best warranty coverage in the game, with extensive bumper-to-bumper, powertrain, and corrosion coverage, plus additional perks like roadside assistance. 

But many lightly used vehicles are still covered under the factory warranty, and most automakers offer some pretty stellar used warranties, so it’s a good idea to speak with your local dealership to figure out your options. 

Find the Best New and Used Trucks Near Shalimar, FL 

No matter which option you decide on, our Chrysler Dodge Jeep Ram dealership in Fort Walton Beach has all the tools you need to find the best financing option available. Contact us on our website or give us a ring at (850) 750-8170 to start your truck shopping journey today.