When you’re starting your own trucking company, you have to decide between many different options on how you’ll be running your trucking business. One option that can be overwhelming is deciding which type of semi truck you’ll buy. If you already have a budget for the purchase of the vehicle you can guide yourself from there to start looking for the features you need on your semi truck in order to offer a good service to your shippers. You have to understand and know key factors well to make a good purchase of your semi truck.
Each brand has their different pros and cons. Remember, a semi truck is not just a vehicle but a very important asset for your business. In this article, we’ll be going through the key factors that you should look for when buying a semi truck for your trucking business.
Should I buy a new semi truck or a used semi truck?
When thinking about buying a semi truck, you should ask yourself: Should I buy a new or used semi truck?
New Semi Truck:
- Cost: A new semi truck can cost you a lot more than a used semi truck, but this has its advantages since it will be virtually zero miles and it will also have a clean service record and new parts. You know that the truck will not come with any pre-existing problems.
- Less initial maintenance: New semi trucks require less immediate maintenance compared to used ones which will help you save time and money in the short term.
- Technology: New semi trucks also offer the latest technology such as safety features, driver-assist systems and also fuel efficiency that helps you have better performance and safety in your runs.
- High Prices: New semi trucks are more expensive than used trucks. Buying a new truck can result in depreciation later, which can result in significant money loss if you decide to sell or trade in the truck later on.
Used Semi Truck:
- Cost: Used trucks are less expensive than buying a new truck due to the depreciation that it has after the first years of its operation. This can result in you saving significant amounts when starting your trucking company.
- Higher Risk of Dishonest Sellers: Some private sellers and dealerships can be dishonest when they sell trucks. They might not let you know of all of the mechanical defects the truck has. There is also a chance that the previous owner has not driven the truck well or maintained it well.
- Fixer Ups: If you are experienced in semi-trucks and know how to fix a semi truck, you can buy a used semi truck for a very fair price, and fix it up on your own.
What semi truck brand is the best?
To choose what brand of semi truck you will be buying to start your business you have to take into account many details to meet your business needs. You have to take the time to choose a brand to buy, since your semi truck will be one of your most important business assets.Freightliner
Freightliner is like the Toyota of trucking. They are the biggest brand and large fleets love to buy Freightliners en masse.
- Fuel Economy: Freightliner uses a system that helps you save money with their best in class fuel economy.
- Biggest Brand: This brand has secured 37.7% of the total market in the US. They have more parts in stock.
- Best for General Freight: Freightliner semi trucks are suited for hauling general freight in dry vans and reefers,
Peterbilt and Kenworth
Peterbilt and Kenworth are owned by the same company and very similar brands. They specialize in customization to match every truck with specific use. Both Peterbilt and Kenworth have a good reputation for excellent build quality, remember quality artisanship pays for itself over the long run.
- PACCAR powertrains: These 2 brands are featured by PACCAR powertrains. Peterbilt offers hybrid electric engines and also features an aluminum body that is nice and light, this helps the truck deliver great fuel efficiency.
- Best Looks: Like we mentioned before, Peterbilt and Kenworth are known for their excellent build quality. They use great quality materials to build their trucks and offer a good looking option. Many truckers who frequent truck shows love to own classic trucks such as the Peterbilt 589 and Kenworth W900.
Volvo
Volvo trucks are best known for their dependability and durability. Volvo is the second-largest heavy-duty truck brand in the world and the fifth most popular truck in North America.
- Safety: Volvo is known for their industry leading safety standards and innovation. They are frequently first to market with safety innovations.
- Comfort: Volvo focuses on driver comfort. For example, Volvo has designed a new system which emphasizes the Position Perfect Steering system that allows you to move the steering wheel in different positions based on your preference.
- Fuel Savings: Volvo has some of the most fuel efficient engines on the road today.
Mack
Mack specializes in increased efficiency and lower maintenance costs. Mack is one of the oldest brands in the heavy duty industry.
- Safety Features: These trucks frequently come equipped with safety advanced features to increase driver and road safety.
- Durability and Reliability: These trucks are reliable for industries like construction, hauling and mining. Mack trucks are reliable for handling heavy loads and rough terrains; they have a very good reputation for being reliable workhorses that can resist demanding conditions.
Things to look for when buying a semi truck
Don’t look at just price:
It is important that when you have decided to buy a semi truck you don’t focus only on the price of the truck since there are many factors that are very important in order to make a good purchase for your business and offer good service to your future customers.
Consider Required Maintenance:
It’s important you check the maintenance record of the truck you decide to buy to make sure the truck has received its maintenance when it was required. A good and well maintained truck should have a complete and orderly maintenance record.
Look at the existing condition of the exterior and interior:
You need to perform a general mechanic check to the truck you decide to buy. Including engine health, brakes, tires and also check if it has any physical damage like dents or scratches. If the truck is beat up, it’s more than likely the previous owner did not take care of the truck in general.
Factor in your business goals:
What type of trucking do you want to do? What type of loads will you be getting? What trailers will you be using? These questions will help you decide which brand and type of truck you need for your business.
You can read our blogpost on picking the best trailer type for your trucking business to help you decide.
How much does it cost to buy a semi truck?
New semi trucks cost near $100,000 – $200,000 or more depending on the brand and manufacturer you choose, the year, model and the features.
For used semi trucks, the price may be lower and it varies depending on the year, make and model, and the amount of miles on the truck. The prices may start at $20,000 and go up depending on the brand and model you choose. If you decide to buy a used semi truck, you should also consider extra costs like the registration fee, insurance for the vehicle, taxes and the maintenance the truck will require in the future. It’s important to calculate your monthly loan payments and then estimate extra costs to get an estimated monthly payment on how much it’ll cost to run your truck. This will let you know how much work you need to complete in the month to afford your truck costs. To calculate your monthly payments, use this loan calculator.
To finance your trucks, you can pay cash or get a loan from a financial institution. You can contact an independent semi truck financier such as Cag Truck Capital, get a loan from your trusted bank, or some dealerships offer in house financing such as TLG Trucks.
Is it a good time to buy a semi truck?
Whether it is a good time to buy a semi truck depends on many factors. The most important factor is your budget and to know where you will be getting your funds to pay for the truck. If you are getting a loan or you are financing the truck, you have to make sure that the interest rate is not high so that you are able to make the payments for that loan in the next couple of years.
Truck prices also tend to be lower during market downturns and higher when the market is booming. If you buy during a market downturn, you may get a good deal on the price but may not have enough work. If you buy a truck when the market is doing good, the price may be higher but the work will be there to support the monthly payment.
Getting On The Road!
Deciding on which semi truck will be your final purchase can be a little overwhelming to some, especially if you’re inexperienced. It’s important to do your due diligence when buying a semi truck such as making sure about maintenance, the existing condition of the truck, estimated monthly costs, and more. You also have to make sure you have chosen the right semi truck brand to satisfy your trucking business needs for the operational requirements. Last but not least it’s recommended that you consider the long-term implications the semi truck will have on your business before making the purchase.
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