How to buy a semi truck as an owner operator?

Becoming an owner operator in the trucking industry is a significant step towards more freedom and money. One of the crucial decisions you’ll face in this journey is buying a semi truck. It isn’t just a simple thing, it’s an investment that can shape your entire trucking career.

Here are some key considerations to keep in mind when buying a semi truck as an owner operator.

Things to consider while buying a semi truck

I. Purchase or Lease a truck

The first and foremost thing to consider is to decide whether to purchase or lease a truck. Carefully decide after considering the pros and cons of each option.

Purchasing a semi truck

When it comes to purchasing a truck, you have to further decide on whether to buy a new or a used truck. By considering the amount of investment you are ready to make and your business type, you can decide whether to buy a new truck or not. 

1. Buying a new truck

If finance is not a problem and you want high reliability on your truck rather than spending on unnecessary repairs and maintenance, buying a new one could be a great option. The cost of new semi truck can be anywhere between $175000 – $190000 depending on the make and model you choose.

Pros: 

• It comes with a warranty
• Needs less repairs and maintenance

Cons:

• It requires heavy investment
• Its value depreciates rapidly

2. Buying a used truck

If you are an owner operator wanting to save money you can opt for buying a used truck. A used truck can range anywhere from $45000 to $100000. Do keep in mind to avoid trucks that are more than 5 years old and which are driven for more than 600000 miles.

When purchasing a used truck, consider buying it from someone whom you already know as they would be more honest about the truck’s condition and its performance. However, if you are considering dealerships, thoroughly inspect the vehicle and go for a test drive. Also don’t forget to check the truck’s maintenance records to avoid paying more than the truck’s actual worth. 

Pros:

• It is affordable
• Easy to customize and add new modifications

Cons:

• High cost of repairs and maintenance
• Warranty may not be included

Leasing a semi truck

Leasing is another good option if you are just starting your business as an owner operator or if you don’t want to take huge investment risk. A lease is a kind of agreement between the lessee (Owner operator) and the lessor (Truck leasing company). Just like leasing a house, the former agrees to pay a certain sum of money to the latter till the lease period ends. At the end of the lease period, the lessee can either return the asset or extend the lease agreement.

Before signing the lease agreement thoroughly read the lease contract and know what all costs are included in the lease payment. Some lenders also cover the truck’s maintenance costs. 

Pros:

• It is a cost-effective way of operating a truck
• Can immediately start your trucking journey

Cons:

• Modification options for leased trucks are limited
• Sometimes, the lease cost when added up can be higher than the upfront purchase cost

II. Truck type

It’s important to consider what features you prefer in your truck. Each driver has their likes and dislikes of how a truck should look and perform. The following are the various features to consider before buying a truck. 

Day cab or a sleeper: Semi trucks are of two types. A day cab is compact and is used for short-haul deliveries. On the other hand, a sleeper cab has room for the drivers to cook and relax and is mainly used for long-haul deliveries.

Type of engine: There are two types of engines – manual transmission and automated transmission. Decide on which is comfortable for you because even though automated transmissions are easy to use, some still prefer manual ones. 

Model: Another feature to consider is the model type you are looking for. Each model has its style, quality, and performance. Depending on the model type, the cost may also vary.

Mileage: Analyze and get to know the expected monthly fuel cost and the fuel mileage for different trucks.

III. Budget

Before you start up that engine and hit the road as a proud semi truck owner, you’ve got to do some math. Sit down and figure out how much you are comfortable to spend. And hey, remember it’s not just the truck price we’re talking about here. There’s the down payment, the monthly installments, insurance, fuel costs, repairs and maintenance.

Once you decide on the budget, it’s time to start looking for semi truck brands that suit your needs. Some of the popular semi truck brands are:

Semi Truck Brands	Pros	Cons
Freightliner	AffordableEasy to find replacement partsExcellent designs with fuel efficient enginesService centers around the nationMost popular engines: Detroit DDR15 and DDR13	Suspension system is not comfortableHigh maintenance cost
Peterbilt	Comfortable sleeper berthsSmooth suspension system	Parts are pricierHigh operating cost
Kenworth	Fuel efficient designsWidespread service centersEasy access to parts	Engine parts can be costlyUncomfortable sleeper space
Volvo	Comfortable sleep berth	Replacement parts can take time to arriveExpensive to maintain
International	Low cost of maintenanceComfortable sleeper berthsAccessible service centers	Engine issues related to emissionsFrequent reliability problems with engines

Cost Estimation 

If you are wondering about the financing and the estimated monthly payments, set back and refer to the following table.

Please note that these are rough estimates, and may vary depending on the market conditions.

Specifications	New	Used
Year	2024	2020
Manufacturer	Freightliner	Freightliner
Model	Cascadia	Cascadia 126
Miles	29 Miles	453,552 Miles
Weight Class	Class 8	Class 8
Horse Power	455 HP	455 HP
Engine Type	DD15	DD15
Front Axle Weight	12000 lbs	12350 lbs
Rear Axle Weight	40000 lbs	40000 lbs
Cost of Vehicle	$179,995 USD	$67,995 USD
Down Payment	$17999.5	$6799.5
Interest rate	10%	10%
Term	36 months	36 months
Payment Amount	$5,227/month	$1,974/month

How long is a semi truck?

To answer the question how long is a semi truck, a standard semi-truck is 70 feet long combining the tractor and trailer. However, this may vary based on various factors.

The standard semi truck trailer’s dimension in Length x Width x Height is 53’ x  13 ½’ x 8 ½’.

Semi truck dimensions

Aspect	Dimension	Details
Length of Semi-Truck	Tractor	– Day cabs: Approximately 20 feet- Sleeper cabs: Approximately 20 feet
	Trailer	– Standard dry van trailer: 53 feet- Flatbed trailers: 48-53 feet- Intermodal trailers: 53 feet- Step deck:  Total 48 ft. – 53 ft                      Lower Deck 37 ft. – 43 ft                      Upper Deck 10 ft. – 11 ft
	State Requirements	– Most states cap at 53 feet but Texas and Oklahoma permit up to 59 feet
Height of Semi-Truck	Tractor	– Most tractors: 13 ½ feet tall (including wind fairing). Cab heights vary (6-10 feet)
	Trailer	– Standard dry van trailers: 13 ½ feet tall (9 feet door height)- Flatbed trailers: Around 5 feet- Intermodal trailers: 9 ½ feet- Step decks: Lower Deck 3 ft. – 3 ½ ft                      Upper Deck 5 ft
	State Requirements	– Not exceeding 14 feet
Width of Semi-Truck	Trailer and Tractor	– Mostly: 8 ½ feet. – Exception for mirrors: An additional 10 inches on both sides, allowing a total width of 10 feet
	State Requirements	In 49 states 8 ½ feet, while Hawaii permits 9 feet

What is the average semi truck maintenance cost?

When you own a semi-truck, being smart about money matters. By knowing how often to keep up with maintenance and being ready for surprise repairs or new tires, you can plan your budget better. The following are the average semi truck maintenance costs you will likely incur.

Semi truck maintenance costs

Type of cost		Frequency/Interval	Average Cost (Approximate)
1. Preventive Maintenance Intervals:	Dry Preventive Maintenance (PM A)	Every 10,000 to 25,000 mi	$80 to $100
	Wet Preventive Maintenance (PM B)	Every 25,000 mi (some up to 50,000 mi)	$300 to $450
	DOT Truck Inspections	Annual	Varies (upwards of $200
2. Unexpected Repairs and Breakdowns		As needed	Varies (average $411)
Some expensive repairs	Clutch System Replacement	As needed	Averages $1,000
	Cooling System Replacement	As needed	Averages $704
	Charging System Replacement	As needed	Averages $676
3. Tire Replacement		Every 3 to 6 years	Varies (average $4,000)

Insights into how much is the average semi truck maintenance cost and how often you need maintenance you can keep your truck rolling smoothly without any costly surprises.

Conclusion

Buying a semi truck requires careful consideration and a thorough understanding of the ins and outs of the industry. From managing your budget to selecting the right truck type, there’s a lot to consider. Remember, it’s not just about trucks, it’s about the safety, efficiency, and sustainability of your entire operation. So, do your research, talk to the experts, and gear up for a smooth ride ahead!