When Is It Time to Trade Your Semi-Truck?
Every year you drive your semi-truck is another year you don't have to worry about buying a new one. However, as the years go by, it slowly becomes apparent that it may be time to trade your used semi-truck for a new one. These trucks are widely used by delivery and shipping companies for transporting and delivering freight all across the country. They are commonly used for long-distance shipping; therefore, there's a need for them to remain in tip-top shape at all times to ensure reliability.
While a semi-truck is a great investment (and expensive one), a time comes when you have to ditch it for a new one. But how do you know? Here are a few signs that indicate it's time to trade your semi-truck!
Extremely High Maintenance and Repair Costs
For used semi-trucks to cover long distances without roadside emergencies and mishaps, they should be in excellent condition at all times. However, if you're spending too much money on repairs and maintenance, it may be time to ditch the old semi-truck and invest in a new one. Look into how much you spend on the following repairs and maintenance tasks:
- Changing transmission fluid and coolant
- Replacing worn tires
- Changing brake pads and rotors
- Replacing suspension parts and timing belt
As used semi-trucks hit high mileages such as 60,000 or 100,000 miles, they start to require more huge repairs to stay on the road. These repairs can add up over the years and adversely affect your business.
Talk to your mechanic and ask about the repairs costs of the semi-truck. In particular, ask about the following:
- Repairs currently needed to keep the truck on the road
- Additional repairs that can be postponed to the next year
- Any major maintenance or repairs you may require in the next few months or years
If the numbers are high, consider trading the truck. A new one will require fewer repairs and have guaranteed performance on the road.
The Used Semi Truck No Longer Meets Your Needs
Semi-trucks are primarily used for shipping products, from vehicles to agricultural goods and construction materials. Whatever business you are in, the truck needs to meet your needs and contribute to the profitability of the firm. If this is no longer the case, you should consider selling it and investing in a new one.
Here are examples of changes that may warrant the need for a new semi-truck for your business:
- Your business is growing, and you need a larger semi-truck for shipping
- You want to start shipping temperature-sensitive products and require a reefer truck
- Your current truck is old and unreliable due to frequent breakdowns and expensive repairs
Examine how much value you're deriving from your used vehicle. If it no longer meets your needs, it's time to trade it for a new one that will promote efficiency and profitability in your business.
You Need a Newer, Fuel-Efficient Model
Semi-trucks are fuel guzzlers, and their versatility comes at a high cost of fuel. Older models tend to consume a lot of fuel, especially when shipping heavy freight over long distances. If you have an old semi-truck, ditching it for a new one can result in incredible fuel savings.
While newer models still consume a lot of fuel compared to the standard vehicles, they are more efficient than their older counterparts. What's more, they come with additional features that can increase the safety, efficiency, and reliability of the truck. These include the following:
- Fairings that reduce drag and increase efficiency
- Side skirts to decrease wind resistance and improve the truck's speed
- Low rolling resistance to reduce fuel consumption
- High-tech mud flaps to reduce wind resistance
- Wider tires for better road handling
- Computerized transmissions with digital sensors
In addition to these features, some trucks come with additional safety features such as a backup camera, forward collision alert, front and rear park assist, and lane departure warning. All these can go a long way in increasing safety, especially over long distances where driver fatigue is the primary cause of accidents.
The Truck is Still Worth Something
One mistake most owners of used semi-trucks make is waiting until the vehicle is almost worthless to sell it. If a truck can barely run or ship products over a short distance, trading it may not be worth it. Therefore, don't wait until the truck is scrap to sell it. Do it now when it's still worth something.
For starters, find out how much the truck is worth at the moment. The value of used semi-trucks depends on factors such as mileage, model, make and year of manufacture. Its condition also determines how much you can get. Note that vehicles depreciate more every year they are on the road. Thus, the best time to sell is now!
Not sure when to sell your used semi-truck and buy a new one? Consider the above factors to help you make a decision. The proceeds from the sale will help you invest in a more modern, more efficient and safer semi-truck for your operations!