Semi-trucks have a set life span, no matter how well you maintain it. For this reason, it is a good idea to think about upgrading your fleet or replacing some units before you even experience equipment breakdown or road mishaps that can disrupt your business operations. In line with this, below are some of the most common indications that it is time for you to purchase a new semi-truck.
One of the first signs that indicate that you already need to consider buying a piece of new heavy equipment is when your existing one frequently shows unreliable performance. You may often experience stall outs, sputtering, or other problems with your truck. This can even get you into thinking whether you will be able to reach your destination without encountering any road mishaps.
It is when you encounter these issues that you need to seriously think about getting a new model. In this case, you can visit your local dealer if you are looking for new semi trucks for sale, and for sure they will also be able to offer you a better model at a reasonable price. In line with this, think about the age of your truck and evaluate the number of miles and years that it has been serviceable. If you deem that the poor performance is because of your truck's old age, then you can get a newer year of the same model. On the other hand, if you feel like the model of your truck was poor quality, then consider switching brands.
Increased Maintenance Costs
In parallel to unreliable performance is increased maintenance costs. Think about the amount of money that you spend each month on the maintenance costs of your big rig. If you are already spending more than you earn just to keep your truck going and on its top condition, then it is more viable if you buy a new semi-truck instead.
With new heavy equipment, you will be able to lower your maintenance costs by a significant sum. When you do, you will create a better margin for profit and increase the income in your cash flow. Thus, it is time for you to start calculating your maintenance costs to see if you need to get a new truck already.
Limited Hauling Capacity
Semi-trucks are primarily designed to carry freight and haul goods from one point to another. As your business grows, expect that you will need to deliver more freight as well to cater to the needs of your clients. If you only have a couple of trucks in your fleet, then you may not be able to accommodate the growing needs of your business. In this case, you need to consider expanding your fleet by getting new trucks and increasing your hauling capacity.
It is a good idea for you to refer back to your business plan and review your business goals. Ask yourself whether you want to be in the industry for an extended period of time or you are looking into shifting into another business venture. In the case of the former, then growing your fleet will pave the way for your business to scale. Conversely, if your business plan is otherwise, then it is a good idea to stick to the hauling capacity that you currently have. In the end, it all boils down to your business plan and understanding your goals to better understand your semi-truck needs as well.
Trucking businesses need to comply with several rules and legislation. There are instances wherein for you to comply with these rules, you need to enhance your existing heavy equipment, or worse, phase them out entirely. For this reason, assess whether the cost of the upgrade needed is significant, such that getting a new semi-truck is a much more feasible option.
For instance, the need to replace your emission compliance filter can end up costing around $20000 only for installation. On the other hand, buying a new truck with a compliant engine can cost less. Then for sure, it will be more advantageous for you to go with the latter because not only will you be able to save money, but you get to choose new models as well.
In conclusion, when your truck is already showing unreliable performance that leads to increased maintenance costs, then take this as a good sign that it is already time to replace your well-loved big rig. Alongside this, when you feel that your truck no longer caters to the demand of your business because of its limited hauling capacity, then it is also time for an upgrade. This will also ensure that you keep compliant with the regulations set for trucking businesses.
When it comes to the need to buy a new truck for your fleet, keep in mind to consider all the facts to ensure that you will end up with the most appropriate solution.