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Budgeting for a New Truck: Buying Used vs Leasing

Are You Saving Money with a Used Truck or Leasing a New One?

You want a new truck. Are you going to buy used or are you thinking of leasing? This is a good question for all shoppers. Buying used vs leasing is a little trickier with truck ownership, but we think that if you answer the questions here, you can make a good decision on whether used trucks or a new leased truck is right for you.

Should You Buy a Used Truck or Lease a New One?

Getting a new truck is an exciting proposition, especially with all of the possibilities these days. The midsize truck market is bursting with possibilities like the Ford Ranger, Jeep Gladiator, Chevy Colorado, GMC Canyon, and Toyota Tacoma. The light duty, full size market is a constant competition with entries like the Ford F150, Chevrolet Silverado 1500, GMC Sierra 1500, Ram 1500, Toyota Tundra, and Honda Ridgeline.

If your budget is tight or you just like to be thrifty, you may have considered buying a used truck or leasing a new one. Let’s talk about the two options and discover which is right for you.

Are you purchasing a truck for work? Well, in some ways leasing is a good option here. It can simplify your taxes. On the other hand, it may be best if you own it. It’s hard to decide this without answering the next questions.

How many miles will you put on the truck each year? If the answer is more than 12,000, you probably need to look at buying used trucks. However, you may be planning to use it as a commuter vehicle. You’ll take it for day trips, weekend getaways, and a vacation or two. Yet you aren’t really planning to put that many miles on the truck. This would tend to indicate that leasing is for you.

How dirty will this truck get? If you just have to go off-roading or you work on a farm, you will probably get the truck too dirty to maintain the lease requirements. It will be simpler, regardless of mileage, to own the truck outright. Getting a loan is easy with help from No Bull FInancing.

What do you do for a living? This is similar to the question about how dirty the truck will get. If you are in the building trades, you may be on messy worksites. On the other hand, if your work takes you indoors to make repairs, you may lease your truck and not worry about too much time spent on unpaved lots.

How often do you trade? If your truck is a symbol of your upscale lifestyle, you may not want to own it. You may want to lease it and trade up when new technology tempts you.

Do you wear a suit? Sorry, this isn’t a good way to decide. Many people with high-powered jobs of all kinds like to drive a truck. You can buy used or lease, and you will probably be happy either way, based on your answers to the questions above. One thing to consider, however, is how comfortable you are in the truck you buy. Leasing is fun because you can get something new every few years and take advantage of new amenities that make your drives less stressful. However, a good used truck is a favorite of those who want to buy a higher trim level at a lower price.

Now that you’ve answered the questions above, thought it out and are ready to make a move, find the right used truck in our online marketplace. Bringing you the best of what’s local to Phoenix and what’s available online, we’ve got the brands you love and the local dealerships you can trust.

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