How Much does a Semi Truck Cost? [May 2022]

How Much Do Semi Trucks Cost?

How Much is a Semi Truck? Know More!

Do you want to start your own transportation company? If yes, this article brings you knowledge about it. Here, you will get a brief idea of how much a semi-truck costs.

If you have experience driving semi-trucks and want to start your transportation company, you are most interested in this article. The cost of commercial trucks differs broadly. Its costs depend upon the manufacturer, model like new or old. The model of the truck depends upon the buying details, whether you are buying a new truck or an old one. If you want to know details about its price tag, read the complete article to gain information.

How to explore a new truck?

If you interested in the semi-truck transportation market, then you have to do the first step in researching traders in your area. In the next step, you have to create the circumstances you require for the truck, glimpse for vehicle models that pair your requirements and note down a list of choices. If you want to buy used trucks, you have to run VIN checks and glance at the data as much as possible, including length, supply history, ECM report analysis, and motor mechanism reports.

If you cannot find the necessary information, then contact the dealership and take help from them. If you can’t receive the answer from dealers or they can’t respond to your queries like semi-truck costing, then it means the truck department is facing some technical issues and is trying to solve them. Guide clear and turn on to the next one on your list.

Costing of Semi Truck: Payment Policy and alternatives

It is an easy guide for those people who want to buy a new semi-truck. For most truck owners, the problem cracked by spreading the fact to pay the amount of the truck in monthly instalments (EMI). If you also want to buy the semi-truck and want to know how much new semi-truck costs you have options to pay the truck amount in instalments, such as paid in full, within months or years down the line. If you are interested in buying a new semi-truck, do you have to know about the cost of semi truck every month? The semi-truck cost you are going to buy depends on your credit score, annual income, and long term.

An average credit score is calculated from the higher interest rate applicable to the loan. If you take the loan over a long period, you have to pay small instalments, but in small instalments, you pay more interest rate on the taken money. If you are not sure that your business will be profitable in 5 years, then this kind of commitment may not be beneficial for you from a financial perspective. There are some alternatives for short and medium aspects. Here we tell you two alternatives, named renting and leasing schemes.

  • Renting: Renting schemes allow to drive a vehicle possessed by a rental company for 6 to 12 months. It often needs one month of advance deposit. This alternative solution is only feasible in the short term contract. The rental cost can rapidly add up ($175 to $215 per day). Few other companies allow ways to buy the truck at the end of your rental time. You don’t need to be worried about semi-trucks costs.
  • Leasing schemes: Leasing schemes have similar characteristics to renting, but the payment plans differ between 2 to 5 years and permit you to make equity over time. It needs a long term agreement. Depending on Vehicle Characteristics, monthly EMI is much lower at approximately $ 800 to $2500. Once you reach the end of the leasing scheme, you have an option to buy the semi-truck. Most leasing schemes also come with maintenance plans.

Average Prices  of a New Semi Truck

If you want to get a high-end semi truck, then you may need to prepare around $200000 for a brand new one. There is a great chance for you to enjoy about a ten percent price reduction should you go for a used one instead. On the other hand, if you are keen on getting an average big rig, then a brand new one may cost you around $165000 while an average used-semi-truck will cost you around $105000.

In case a low-end truck is already suitable to meet your needs, then you only need to spend around $130000 for a brand new one and around $30000 on a used one. Leverage technology and explore online sources over the internet. This is one of the ways to find an International semi truck for sale at a very good cost or any other truck brand for that matter. In doing so, you will be presented with a list of viable options that will suit your needs, and your budget.

Kenworth

For truckers who want to acquire a brand new Kenworth truck, around $170000 to $205000 needs to be prepared. This is the average price that you have to pay particularly for the 2021 T880 model. Nevertheless, there is still the option for you to go for a lower-priced model such as the T370 which only costs around $74000.

Peterbilt

Peterbilt offers various truck models in different price ranges. However, if you are keen on getting the 2021 579 models, then you need to prepare anywhere from $149000 to $164000. Typical sleeper models cost around $30000 more than day cabs. Explore some of the most reliable web sources because in doing so, you will have the opportunity to find special e-prices for some of the models offered by this truck manufacturer.

Volvo

For Volvo’s 2020 VNL64T760 with 425 HP, you may have to spend around $149000 but rest assured that this truck manufacturer is renowned for producing durable trucks that withstand the test of time. For this reason, you are guaranteed that you are getting the value of every penny you spend. As a mechanic for Volvo, ( use to work at Peterbilt, and worked on Internationals. Both in my opinion are terrible especially the Maxforce & PACCAR engines). Hands down are the most reliable. You will rarely see an engine being torn down to replace cams, rockers, pistons or anything internal.

Way to finance a semi-truck

After you analyze which truck model you need and how much does that semi truck cost, what’re your requirements, research lenders like credit unions or even take help from truck dealers. After you analyzed a specific model, mileage requirements. Do many questions arise in your mind, such as How they offer quick approvals? If you want to buy a new semi-truck, you have to require cash to make some payments initially. The first down payment starts from 15 % on the used truck of $1,20,000. Taxes and other miscellaneous fees are extra.

Some lenders do not take this initial down payment, but they acquire high interest, repayment and credit scores from the buyers. As we tell you, a loan taken for the long term will possess more interest rate. You must contact the lender who meets your needs and requirements and take care of the interest rate. Every lender has different needs; you should provide them with some details and information such as your kind of business, your annual income, your credit score, how long your job history, your needs about the vehicle model, age, motor, and distance coverage.

FAQs on Semi Truck

  1. How many earnings do you make after buying a semi-truck?

Ans. The average earnings of truck driver owners are $96 per hour in the United States. This is the approximate idea of truck driver earnings. The actual income differs with some proportions that depend upon business, overhead costs, place, and other factors.

  1. How much does a new model of semi-truck cost?

Ans. The most popular semi-truck agency in 2021 is Peterbilt, Volvo, Mack, Navistar/International, Freightliner, and Kenworth. The cost of these companies’ 2021 and 2022 latest models lies between $125,000 to $150,000.

  1. Can I buy the electric battery tesla semi-truck? How much does it’s costing?

Ans. An electric battery tesla semi-truck was launched in 2017, with a manufacturing price of $150,000. This tesla semi-truck covers the range of 300 miles, and the tesla semi-truck that costs $180,000 covers the 500 miles range. But in August 2021, the models of the tesla semi-truck are not available and will not be expected to come into existence in 2022.

Conclusion

In this article, we tell you about semi-trucks. In this, we tell you how much we earn as truck drivers in the United States. Hope you like the article and get a clear idea about how much does a semi truck cost. If you like the given information, share it with your friends and families to spread the knowledge on trucks.