New vs Used Trucks: Finding the Right Fit for Your Business

When it comes to expanding or starting your fleet, the choice between investing in new or used trucks can feel like a big one. Do you go for the shiny new truck with all the bells and whistles or stick with a dependable used model that’s easier on the budget? The answer lies in what works best for your business—and that’s exactly what we’re here to help with.

Let’s dig into the pros and cons of each option and give you the practical tips you need to make the right call for your fleet.

Why Choose a New Truck?

Buying a new truck has some clear advantages, but potential drawbacks are worth careful consideration.

The Benefits

Reliability You Can Count On

New trucks come with the confidence of knowing they’ve never been on the road before. No dodgy repair history, no surprises—just reliable performance backed by a factory warranty. That peace of mind is priceless when you’re running a business. You can likely count on fewer and lower repair costs with new trucks.

The Latest Tech and Features

Modern trucks are packed with advanced tech designed to make your life easier. Think adaptive cruise control, lane-keeping assist, enhanced safety features and enhanced fuel efficiency. Plus, the latest telematics systems can help you monitor your fleet and stay ahead on maintenance, leading to lower maintenance costs and less downtime.

Built to Your Specs

Need a particular engine setup? A larger cab? Specialised equipment? When you buy new, you can customise the truck to suit your exact needs. It’s like tailoring a suit—everything fits perfectly and is designed just for you.

The Drawbacks

The Price Tag

New trucks aren’t cheap. The higher price tag on a new truck can stretch even the healthiest budget, so it’s important to know you’re getting a good return on investment.

Depreciation Blues

A new truck loses a chunk of its value as soon as you drive it off the lot. If resale value is important to your business, this is something to keep in mind.

Higher Insurance Costs

Naturally, a new truck is going to come with higher insurance costs, which you will need to factor into your budget long-term. Although it can be tempting to go for a new model, the additional overheads it adds to your business may not be worth it.

Why Go for a Used Truck?

Buying a used truck also has some clear benefits with a lower purchase price, but it’s good to weigh up the cost savings against other key factors.

The Benefits

Lower Upfront Costs

This is the big one. Buying used can save you a significant amount upfront, freeing up cash for other business needs—like hiring drivers or taking on new contracts.

Beating Depreciation

Since the initial drop in value has already happened, used trucks tend to hold their value better over time. That’s a win when it comes time to sell or trade in.

Proven Performance

Many used trucks come with detailed maintenance records, so you know exactly what you’re getting. A well-maintained used truck can be just as reliable as a new one—without the hefty price tag.

The Drawbacks

Higher Maintenance Costs

Used trucks often need more frequent repairs, especially as they rack up kilometres. Those repair costs can add up, so it’s important to budget for ongoing maintenance and even frequent maintenance.

Fewer Features

If you’re after the latest safety features and efficiency tech, a used truck might not cut it. Older models are often missing the upgrades that can make your fleet run smoother and may be lacking when it comes to comfort and quality-of-life features that drivers appreciate. If advanced driver assistance systems are something you require, for example, you may find more options among new trucks.

Breaking Down the Key Differences

Here’s a side-by-side comparison to help you decide:

Factor	New Trucks	Used Trucks
Upfront Cost	High—significant capital investment	Lower—easier on the budget
Technology	Cutting-edge safety, efficiency, and comfort	Basic—may lack modern features
Depreciation	Rapid in the first few years	Slower—better long-term resale value
Customisation	Fully customisable to your business needs	Limited to what’s available on the used truck market
Maintenance Costs	Low—covered by warranty for the first few years	Higher—repairs more frequent as the truck ages
Insurance	Higher premiums due to replacement value	Lower premiums, but depends on truck condition

Questions to Ask Yourself

When trying to decide between new or used trucks, here are some things to think about:

What’s Your Budget?

If upfront cost is your biggest concern, used trucks are the obvious choice. But if you can invest more now to save on maintenance later, new trucks might make more sense.

How Will You Use the Truck?

A heavy-duty truck for long-haul routes might justify the reliability of a new model, while a used truck could be perfect for lighter, local jobs.

What’s Your Timeline?

Need a truck yesterday? Used might be your best bet, as new models often come with long wait times for delivery or customisation.

What’s Your Priority—Features or Flexibility?

If the latest tech and a personalised setup are non-negotiable, new is the way to go. If you’re happy to adapt to what’s available, used trucks offer great value.

Start Your Journey to Truck Ownership With Credit One

Whether you choose new or used, financing can help take the pressure off your budget. With extensive access to a broad range of lending providers, competitive interest rates, and a range of flexible truck finance options, including chattel mortgages, finance leases, and unsecured business loans, we make it easy to secure finance that suits your unique budget and needs. Try our truck loan calculator or go ahead contact us today to speak with a truck loan finance specialist!

And if you’re already in the market for a truck but aren’t sure what you need, explore thousands of new and used trucks for sale at OnlyTrucks.com.au.