Looking at buying a ute? You might be thinking that a new Ford Ranger is the go but it’s a lot of cash to spend. Maybe you could find a second-hand one floating around? We’ve put together some pros and cons to help you decide what it’s gonna be – brand-spanking new, or tried-and-true second-hand.
The cash money
A new ute is always going to make a hole in your pocket, even if you put it on finance (it’s a lot to owe, and interest is a pain). But in saying that, a new ute will likely hold its value for longer.
A second-hand ute will definitely be more manageable money-wise, but you don’t know who has thrashed the heck out of it and just slapped on some new paint.
If you would need finance for either option, probably the new one is the way to go. This is because lenders would likely go over a used vehicle with a fine-toothed comb before agreeing to lend you the money, and who knows what they might find…
Getting a ute on finance doesn’t have to be the big bad debt monster though. If you’re a business owner, it could actually be a smart decision as it leaves you with cash to invest into other areas of your business.
The good looks
Yes, a brand new ute would make you look like a boss, but if you aren’t actually one, looks aren’t everything. If it’s just for personal use, second-hand is probably the way to go here.
If you are going to brand your ute and slap signage all over it, then it’s going to turn more heads if it’s shiny and new. You don’t really want to be rocking up to a potential client’s place in a dusty truck with your website spray-painted on it, right? So sometimes going new can greatly improve your reputation.
If you’re after the latest specs, then a new ute is going to be the way to go for you. It’ll have all the tech you need, like reversing cameras, and built-in nav and music options. But you’ll be paying a premium for those, and more tech means potentially more complex electrical issues. If you’re not fussed, or you want to mod it yourself, then a second-hand ute will be right up your alley.
When buying a new ute, you’ll likely be offered a tonne of upgrades and extras from the dealership, which can be great if you’re looking to finance and they offer lower interest rates, or they throw in a few years of free services.
One thing you’ll need to look out for though is any insurance they’re trying to upsell you. It’ll usually be overpriced, and include things that are unnecessary (things you’re actually covered for under the Consumer Guarantees Act).
Whatever ute you decide to purchase, new or used, we can help you out. Have a chat to our team – we’ll get a quote sorted so you can get your new ride on the road ASAP!