If you are considering buying a car you should consider buying a used truck. The fluctuation in the economy has caused some strange trends in the car market. You should try to understand how these fluctuations affect car prices so that you can make an informed decision before purchasing a car.
There are several reasons why used trucks are good deals at the moment. If you understand the economic concepts of supply and demand and the features of used trucks then you can see why used trucks are such great bargains.
Used trucks are the best option for you because of competitive prices, fuel costs, and utility capacity.
1. Used Trucks Have the Best Prices
Due the economy; used trucks have the best prices. You can figure this out by simply looking at how economic trends in the car market affect care prices. You might have heard news reports in the last year or two of how the prices for some used cars have actually exceeded the prices of their newer counterparts. This is the first time in history that a used car is more expensive than a new one. You can see how this affects the price of used cars below.
- People are buying used compact cars like crazy. The bad economy has made it hard for people to afford new cars. With gas prices soaring people have flocked to buying small, fuel efficient used cars. This has increased the demand for small used cars. Due to this demand the cost of used compact cars has risen quickly, even to the point where the cost exceeds that of newer models.
- As you can guess, with everyone buying used compact cars, the demand for used trucks is low. People still think that trucks have low fuel efficiency and therefore don’t consider them when searching for a used car. People are panicked by the cost of fuel so much that they overlook the fact that the mpg of truck models made in the last seven years has increased tremendously.
- Compared to other cars, used trucks have the cheapest prices. New cars are expensive and you probably can’t afford one. Used small cars have become even more expensive than new cars. Used trucks are priced well below their newer models and would be the best deal for you. Like with other financial investments, you should buy in low. The low prices of used trucks are only matched by prices of used SUVs.
2. Used Trucks Have a Positive Relationship with Fuel Costs
One important aspect you should understand about used trucks is their relationship to fuel costs. Recent trucks models have higher mpgs. Sometimes used trucks have fuel efficiency as good as smaller cars. This means that you would have the same benefit of owners of smaller cars without having to pay a premium price. You would also enjoy all the advantages there are from being a truck owner. A hike in gas prices also wouldn’t affect you negatively.
Another important fact to understand about used trucks and fuel costs is that demand for trucks is not affected by fluctuations in fuel prices. People flock to buying compact cars because of rising gas prices. When gas prices are low this demand for smaller cars wanes and hence the price of small cars decreases. You would have a more stable investment if you purchase a used truck rather than a compact car. The demand of trucks is not affected by fuel prices like the demand of small cars is. You can feel assured that your truck would retain its value and you would not experience substantial financial loss because of a change in demand.
3. Used Trucks Optimize Utility
Used trucks are great for cargo purposes. With the bad economy many people are undertaking their home improvement projects themselves. You could benefit greatly from the use of a used truck. You could make pickups from Home Depot or Lowe’s and handle them with ease. You could also make trips to the dump easy. Having this versatility in cargo capacity can really help you out in tough situations when you need to move heavy objects.
Used trucks can also be used for other purposes depending on their features. If you purchase a used truck with an extended cab then you can fulfil the carpooling needs of your family. You could even perhaps save on gas by carpooling with your friends. Trucks with extended cabs can fit up to five people. So if you want to maximize the benefits used trucks provide try searching for used trucks with decent extended cabs. If you find that extended cab trucks are not enough space for your needs, then you can always buy a used SUV.
Used trucks also have better safety features. As new safety improvements were developed for cars, manufacturers mainly built them in trucks first. Smaller cars did not have these added safety features until later. This means that a used truck has better safety features than used compact cars. This is yet another benefit you would receive from being a used truck owner. An example of one of these safety features is electronic stability control. Smaller cars didn’t start to have this feature until as late as 2009 and 2010. Clearly, used trucks are a better deal for you than used small cars when safety is concerned.
Overall, when you consider the prices, fuel costs, and utility capacity of used trucks you can see that they are the best deal in the car market. Crazy economic trends make it hard for you to afford a new car and also drive up the prices of used compact cars. Used trucks are cheaper, fuel efficient, and less likely to lose value due to a change in fuel prices. Used trucks are a good investment for you. They can be very handy and have great cargo capacity. Used trucks even have better safety features than used small cars. If you need a car then buy a used truck.
Lauren Sawyer is a freelance writer. Marissa was born in California and has travelled as far as Seoul, South Korea in her career. She often writes about truck accessories like flatbed lumber tarps, truck straps and trailer tarps for trucks.