It may be a better time than you think to buy a used truck, and there are more options than ever out there. For one thing, “Money’s still cheap,” says Mike Spence, senior vice president, fleet services, for Fleet Advantage, a leasing and asset management and consulting company that also sells used trucks.

Notwithstanding the recent Fed rate hike, interest rates are still at historic lows. And while prices of today’s complex, low-emissions new trucks have soared, depreciated used trucks are affordable and can be nearly as reliable. Supplies are growing and prices are coming down as thousands of 3- to 5-year-old trucks are coming into the market.

“Rates are as low as 3 to 6%, depending on your credit,” says Mike Spence at Fleet Advantage. “Others are 8, 9, 10%. A quarter-point shouldn’t deter anyone from moving up to a newer vehicle, especially these new, fuel-efficient vehicles. A one-quarter percent hike on a $70,000 to $90,000 loan is going to add only 20 to 30 bucks a month. And if you go from a 2008 to a 2013 or ’14 tractor, you’re going to bump your fuel economy by a half a mile per gallon. You’re looking at saving $4,000 a year in fuel, and there’s $350 to $375 a month.”

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