Paying off semi trucks boosts the amount of versatility for decisions for your business. There are many advantages of ownership of used heavy trucks. Used heavy trucks have advantages in both their price point and their maintenance costs compared to new units. Here are some more reasons that you should hold on to older semi trucks.
Being Able Take Time Off
For many truck drivers, financing is the only option to be able to buy new semi trucks. The problem is that you need to have the money for the monthly payment. This means that you are not able to be picky with the freight that you take, or be able to take time off. Older semi trucks when payed off only need money for the repairs. Most times, the repairs on older semi trucks can be done with both new heavy truck parts and parts from salvage yards.
When it comes down to it, who can really afford the monthly truck payment? Then there is also the rise in the insurance rate with new semi trucks. Also, once the warranty is finished, you need to add in the cost of the repairs. Most new semi trucks will cost four or five times more than older used heavy trucks. The cut in the fuel cost is not going to mean anything when you are tripling the cost of repairs, and the reliability of newer semi trucks is not the same.
It is well documented that most of the engines in these older vehicles that were made from 2010 onwards have an average fuel economy that is better than older semi trucks had for years. At the same time, a well-maintained semi-truck can get around the same fuel economy, and is able get up to speed at a faster rate than newer models.
While having a warranty is nice when you need repairs done, it is not going to cover the lost revenue from not being able to work. Older semi trucks are able have roadside repairs done with a basic tool kit, unlike newer and computerized semi trucks.
If there is little wrong with your old truck, holding on to them is the best option. There are many more reasons that used heavy trucks are the best choice. Being debt free as a truck driver is important in today’s world, as if the price of gas jumps like in 2008, you may not be able to afford the monthly costs on a brand new semi-truck. The extra features that come with a newer semi-truck are nice, but you should really hold onto your older model, just in case.