Why You Should Buy A Used Semi Truck As An Owner Operator

If you're new to the owner-operator business, you might be tempted to buy a new semi truck rather than a used one. However, buying a used semi truck and performing a few simple maintenance procedures can save you serious cash and help make your investment more profitable right away.

Buying Used Will Save You A Lot Of Investment Capital

When you get a business loan to start a new owner-operator business, the first step to take is buying your truck. A new semi truck can cost anywhere between $100,000 to $150,000. This will take up a sizable portion of your investment capital and leave you with very little for business expenses such as renting an office or hiring other drivers.

Buying a used semi truck can cost you as little as $15,000 to $90,000, helping save you a lot of money on your initial investment. As a result, you can take that saved money and use it to invest in other aspects of your business and have lower loan repayment costs. Other benefits of buying used semi trucks include:

• Less depreciation than a new model – a new semi truck will depreciate in value as much as 40 percent in the first year, while a used model will depreciate at a slower rate
• Insurance rates are lower for used trucks than new – this is particularly relevant if you are hiring multiple drivers with their own trucks
• Registration and sales tax fees are lower – in fact, some states won't levy sales tax on used semi trucks at all

Problems To Check For Before Hitting The Road

If you are interested in purchasing a used semi truck, you need to check it for a few common problems and get them repaired before they become a major concern. Performing the following maintenance procedures can ensure you save money on your used semi truck investment:

• Check the clutch to ensure it isn't sticking or struggling to shift – this can indicate a more serious engine problem
• Look under your truck for any leaking radiator fluid – this could indicate a blown head gasket, which could spiral into a serious problem
• Change all your fluids, including your oil, before driving more than a few miles to ensure it is fresh and will protect your engine
• Run your hand along the belts of your engine to find any frays and replace them if even a single thread is coming off of the belt
• Inflate all your tires to the proper level and wait a few days to check for any leaks – while a single blown tire on the road isn't a major problem for a multi-tire semi, multiple blown tires will be
• Have a maintenance expert inspect your brake lock to ensure it is operating properly – never repair brake problems yourself

These maintenance procedures will ensure your used semi-truck is road-ready and will get you making money in no time. This is a major advantage to an owner-operator that is on a tight budget and who needs to start making money as soon as possible.