Posted Wednesday, Oct 04, 2023
Purchasing a used commercial van can be a wise choice if you're just starting a new business and lack the funds to purchase a brand-new one.
Modern automakers can produce incredibly robust commercial vans that can survive for decades thanks to improved manufacturing methods. This suggests that your money will be secure whether you buy something new or used. However, one major benefit of purchasing used business vans is that you save depreciation - more on that benefit below.
You will have more buying power and more options if you choose a used commercial van; it’s also true that your long-term costs are also kept at a bare minimum. For example, used commercial vans are cheaper to insure and repair.
Let's take a look at the main benefits of buying a used commercial truck.
Utilitarian vans can be rather expensive and cost more than your average general-purpose vehicle. This is why the most affordable option may be to get a commercial van from a reputable dealership like West International Corp.
Used commercial vans do everything that new commercial vans do, except that they cost only a fraction of the price of their newer counterparts. You have deprecation to thank for this market phenomenon, in that new vehicles will lose their value the moment you sign on the dotted line and take them home.
This means that even if your van was used sparingly, it is still technically regarded as ‘used’ and will sell at a much lower price on the market.
In other words, you now have access to several models in your price range that offer all the great features you are probably looking for in used commercial vans.
And here’s the best part: the low price also translates to more affordable insurance and registration costs. For obvious reasons, a new commercial van is much more valuable, which means it will cost more for the insurance company to repair and replace it in the event of a loss. This can raise your insurance rates, which can burn a hole in your pocket depending on how much you'll have to pay the insurance company each month.
It’s always a good idea to make as many savings as possible, especially on the cost of insurance.
Deprecation is the primary reason why you can afford used commercial vans in the first place. And the best part is that the depreciation rate on used commercial trucks is lower than that of newer vehicles.
At a certain point, the rate of depreciation for used vehicles becomes stable. This means you should be able to sell the used van later on if you need to without losing much on the original price.
The used car industry in North America is staggeringly massive, with new vehicles entering the market by truckload every day. This means you have access to a collection of trucks in a variety of makes and models. In fact, the used car market in the US is so robust that the experience of buying a used commercial van is quite similar to that of buying a new one.
This is especially true if you buy a commercial van from a reputable dealer like West International Corp.
And if you’re on the lookout for a used van customized to your needs, you might be able to run into one - if you know where to look. Sure, you could take your brand-new commercial van and have it outfitted with aftermarket additions, but this would be costly. Instead, there is always a high chance that you can get away with a fully loaded commercial van with all the bells and whistles you need at no additional cost to you.
Fleet owners of commercial vans know all too well how expensive it can be to finance their vehicles. However, going the used route can allow them to manage their finances, especially if they do not have the budget to buy brand-new commercial vans outright. Because used commercial vans cost less, they also come with a lower down payment and also lowers monthly payments.
It means that your monthly expenses will be significantly lower, and you won’t have to make adjustments to your budget to facilitate the transaction.
If you opt for used commercial vans at a reputable dealership like West International Corp, you will get access to a reliable vehicle that has been properly inspected. It also comes with vehicle history reports so that you can see details about the van’s ownership, title status, mileage, accident history, and much more.
Before buying a used commercial van, it is important to take advantage of vehicle history reports from providers such as Carfax to learn about the car’s history. You should be able to extract a lot of valuable information about the van based on its vehicle identification number (VIN).
Important pieces of information to look out for include total mileage and whether the van was declared a total loss by its insurance company.
Making the most out of your budget is another benefit that comes with buying used commercial vans. You can buy a more feature-rich commercial van than if you opted for something new.
If you want to buy a high-end trim that, for example, offers more towing power, it may not be possible to afford the latest option that came out this year. But you may be able to afford one that is a few years older.
Another thing worth mentioning is that automakers are no longer significantly overhauling their models every year. This means that any differences in terms of technology, style, and performance will be minimal at best.
So there you have it, a quick look at why it’s more advantageous to opt for used commercial vans instead of their newer counterparts. Other savings include lower insurance premiums, registration costs, and lower depreciation.
For more information, check out West International Corp and get the best deals on used commercial vans today!