Have you decided to become an independent owner-operator? If yes, your first big decision will determine if you want to lease or purchase a semi-truck. There are benefits and disadvantages in both these cases, but it’s essential to see your boundaries first.
How To Make Your Decision:
It is indeed an important decision and one that’s not at all cheap, so you need to research properly before you decide on buying your 18 wheeler truck. We’ve enlisted some of the pros of buying a new truck vs. buying a used 18 wheeler for your operation to help you make a more informed decision.
Pros of Buying A Semi-Truck:
Buying a semi-truck without any experience is complex, and the decision mainly depends on your pocket; whether you can afford to buy it or not?
Buying a new 18 wheeler is significantly more expensive than leasing one or purchasing a used one. But when you buy a new truck, you’ll also be bearing additional expenses like warranty costs and interest costs, etc.
- A considerable warranty: New trucks always come with a substantial warranty covering different forms of damage and issues. This can save you money and some valuable time in the coming years.
- Knowledge of 18 wheeler’s history: People prefer buying a new semi-truck because there will be no unknown issues with a new vehicle. With used cars, you’ll always face some strange problems which mean hidden expenses. As long as you maintain a new truck, it is likely to save you a ton of money.
Pros Of Buying A Used Semi-Truck:
New owner-operators usually prefer buying old vehicles as it is a cheaper alternative but let’s see some pros of buying a used truck before you decide.
- A cheaper option: There is a significant price drop with a used truck. The older the truck, the cheaper it will be. For instance, a new semi-truck may cost you around $150,000, while a slightly used one may cost $100,000. And if you buy a 7-10 years old vehicle, you could get it at a steal of $30,000.
- Lightly used trucks can be well-maintained: If a truck you’re interested in is a few years old and in good condition, it can give you the same value as a new one.
- Less risky: Investing a smaller amount at a time is a wise decision as you’ll be able to recover from it if you choose to change your path or are facing money problems. Buying a new truck means more capital investment which will be difficult to recover because sharp drops in prices always come in the first few years.
- More sturdy option: Some drivers prefer driving older 18 wheelers as they are more powerful and sturdy than the new trucks. If you buy old trucks, you need to research the particular make model for these qualities.
Purchasing a used truck is always a gamble, but with the right amount of research, you’ll be able to check all the qualities of the truck and make the right decision.
You can check out Gillson Trucking if you’re interested in becoming a driver and gaining the experience you need to establish your owner-operator business.
The Best Choice For You:
Buying a used vehicle is more popular, and numerous owner-operators have made a name for their companies operating old 18 wheelers. So, if you want to keep your investments in check, we’ll suggest you go with a used truck at the start.
If you have some experience with trucking and have the capital, you can opt for a new semi-truck.