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Technorati Tags: commercial truck, Mack, Truck Cost, truck insurance, TruckersĪllen Smith is a 37 year veteran who started at an early age in a household goods family moving business. Still, as you shop for your first big rig, you should keep the lifetime costs in mind, so you won’t end up buying more truck than you can afford. Though the numbers are daunting, the possibilities from owning your commercial vehicle are outstanding. Large motor carriers are equipped to handle the expenses of truck ownership, but that doesn’t mean individuals are incapable of gaining independence by buying their own big rigs. Plus, contractors usually earn higher wages than standard transportation employees, so the costs of the ownership will seem less when compared to your increased income.
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#Cost of a big mac in dallas drivers#
Leasing may be a good option for companies or drivers that do not expect to remain in the transportation business for long, but if you love the industry and want to stay, owning a truck will allow you to be financially independent in the field. By purchasing a truck of your own, you are investing in yourself, allowing you to build worth and increase your profitability. However, the benefits of owning your own truck certainly make up for the expenses.Īs with homes, cars, furniture, clothes, and any other rentable commodity, ownership is ideal. will add up fast.Īdmittedly, it is difficult to read these numbers, add them up, and still be eager to buy a commercial vehicle of your own. Truckers need special licenses and permits to operate their equipment, and tolls on roads throughout the U.S. Licenses, permits, and tolls are often forgotten expenses.For $6,500 yearly, you can protect your investment as well as your client’s goods from dangerous accidents. Fortunately, truck insurance can be surprisingly affordable. Regular maintenance adds up to roughly $15,000 per year. A driver’s worst nightmare is seeing smoke, and all those hours on the road will eventually put your truck in the shop. Truck repair is another significant expense.While the average four-wheeler will consume around 500 gallons of gasoline every year, your 18-wheeler drinks at least 41 times that, which is easily more than $70,000 annually. Fuel is the largest operating cost for truckers.Independent contractors and owner-operators must be able to budget for serious recurring expenses, such as: Estimates suggest that a big rig costs about $180,000 to operate for a single year or $1.38 per mile on the road and that does not include the initial asking price. Lifetime PriceĮvery new car buyer must know that purchasing the car is just the beginning of car-related payments, and that fact is even more true with commercial trucks. Already, these numbers may seem huge, but actually, the purchase price of a truck is only a fraction of the total costs of owning a commercial vehicle. On top of this, new trailers usually add an extra $50,000 as long as you are looking for a standard rig specialty trucks like loggers or long-combinations will certainly cost more. On average, a brand-new day cab costs about $113,000 and a sleeper will set you back about $125,000. Finding a vendor you can trust is crucial to securing a reliable, affordable price on the truck you need.Įssentially, you should expect to pay over $100,000 for your first commercial vehicle. Because vehicle sales remain somewhat negotiable, unscrupulous dealers will often inflate their prices to profit as much as they can from individual sales. For example, Peterbilt and Volvo have reputations for luxurious trucking, whereas Mack trucks are highly regarded for their enduring toughness on the road.Īdditionally, individual sellers could have vastly different prices on identical trucks. Almost every trucker has a distinct preference for one style of big rig over all others, and though it is wise to buy the cab you are comfortable in, you might end up paying more for certain brands. Your desired make and model will influence a seller’s asking price, as will the age of the vehicle and its amount of wear and tear.
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Obviously, what you initially pay for your shiny new (or used) truck depends on a few variables. If you are struggling to decide whether you should invest in your own commercial rig, here are some facts and figures to consider. In fact, trucks cost much more than their initial asking price, but the advantages to ownership are not insignificant. However, commercial vehicles are not cheap, which is why many truckers continue to lease vehicles from their employers.
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Truckers often dream of the day when they can purchase their own Class 8 and become independent contractors or better, owner-operators. What It Really Costs to Own a Commercial Truck