Do you want to start a Trucking company in the U.S. and want to invest in a Semi Truck but have no idea about the cost of New Semi Truck and how to start a Trucking Business? Trucking industry is a major part of the U.S. economy as Trucking companies enable factories, Retailers, Businesses and Traders to transport raw materials as well as finished products from one location to another. A ‘Semi-Truck’ is a short name for semi-tractor-trailer truck and it is a combination of a tractor unit and one, or more, semi-trailers to carry freight. Buying a new Semi-Truck is a major investment and a big decision as the cost of a New Semi Truck could be $75,000 to $180,000 or more. But nothing to worry as this investment will pay off for itself many times over whether you are a single-truck owner operator or the new Semi-Truck is going to be a part of a large fleet.
The base model of a Tesla Semi-Truck which has a 300 miles range and price for it starts at $150,000 in the US. With additional range, the 500 miles version from Tesla starts at $180,000.
Here’s a very insightful article on how to estimate the cost of a New Semi-truck.
New Semi-Truck Average Costs
Semi-truck, also known as Semi-trailer-truck or transport truck, vary widely in price. The cost is influenced by several factors mainly the size of the truck, whether it’s a day cab or sleeper, and factors like fuel efficiency, engine horsepower and cargo capacity. These factors play a crucial role in the price of a New Semi Truck.
A new Semi-Truck costs $75,000 to $180,000 or more. If you want custom features in the truck, then you can expect to pay a price of $200,000 or more. If you are starting a new Trucking Business and will operate only a single truck then you can opt for a low end version of that price range. You can purchase a day cab and not sleeper with a single axle, lower cargo capacity and a lower engine horsepower as well.
But if you already own a Trucking business with a full fleet then you can opt for a high end version. You can purchase a Semi-Truck with a sleeper cab with a higher cargo capacity and engine horsepower.
For highway trucks there are several financing options available directly from the dealer and the banks. If you’ve decided to purchase a Semi-Truck and decided the model as well then, you can take out a loan through a bank or take SBA assistance or take advantage of dealer financing. Remember you have to pay a small amount upfront which is often a percentage of the loan amount, it is also known as down payment.
You can also opt for Leasing a Truck instead of Financing or Purchasing. Often, no down payment is required. Leasing is the best option if you plan to upgrade your fleet of trucks every few years. After the lease term is over, you can trade in your semi-truck for a newer model and keep your fleet upto date with time. Many logistics companies also look for trucking companies that have the most upgraded fleet of trucks, so it’s a good idea to trade in your old semi-trucks for newer models and this is where leasing is more beneficial.
Best Truck to Buy New Owner Operator?
How to Choose a Semi-Truck?
The most important factor that you should consider before approaching a dealer is what kind of trucking business you want to start? Whether you want to provide local trucking services or you want interstate which is often long distance? If your routes are strictly local, you’ll want to buy a day cab. If you plan to provide long distance trucking services then you should buy a sleeper.
Here you can find Catchy Trucking Business Name ideas for your Trucking Business.
While leasing a Truck or Purchasing is not the only costs that you have to bear, in future you’ll also need to budget for other costs that come along with a truck such as:
- Fuel costs
- Regular oil changes and other routine maintenance
- Breakdown costs
Remember that with a higher cargo capacity Truck, fuel efficiency is less compared to a small capacity truck. If you are looking for higher fuel efficiency but a lower cargo capacity then you can purchase a small Semi-Truck. On the other hand, if you are looking for a truck that is large enough to handle the volume of goods or materials you transport then you need a large Truck capable of handling the volume of load. When choosing a Semi-Truck, choose a model that offers maximum fuel efficiency at higher cargo load capacity on the highway.
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