How much does a semi truck cost?

Key Takeaways

• New semi-trucks cost $100,000 to $200,000, depending on their type and features.
• Based on age and condition, used semi-trucks cost $30,000 to $120,000.
• Annual costs like fuel, insurance, and maintenance can exceed $50,000.
• New semi-trucks are reliable; used semi-trucks cost less but need more maintenance.

How much does a new semi truck cost?

New semi-trucks cost between $100,000 and $200,000, depending on their type, features, and brand. 

• Day Cab Trucks: $100,000 to $150,000
• Sleeper Cab Trucks: $150,000 to $200,000 or more, depending on features and brand.

A basic semi-truck can cost about $140,000. A premium truck with advanced features might cost over $200,000.

What is the cost of used semi trucks?

The cost of used semi-trucks ranges from $30,000 to $120,000, depending on factors like age, mileage, condition, and specifications.  

• Day Cab Trucks: $30,000 to $70,000
• Sleeper Cab Trucks: $50,000 to $120,000

A five-year-old semi-truck with 400,000 miles can cost about $60,000. Older trucks with higher mileage often sell for $40,000 or less.

Factors influencing semi truck costs

Type of Semi-Truck

The type of truck dramatically affects its cost. Day cab trucks, made for short trips, are cheaper, while sleeper cab trucks with sleeping spaces cost more.

New vs. Used Trucks

New trucks are more expensive because they have the latest technology and warranties. Used trucks are cheaper but often come with higher repair costs.

Brand and Model

Well-known brands like Peterbilt and Kenworth are more expensive because of their high quality and features. Brands like Freightliner are more affordable but still reliable.

Specifications and Features

The engine size, fuel efficiency, and any custom features add to the cost. Trucks with unique designs for specific jobs, like refrigerated units, cost even more.

Market Conditions

Prices can increase if demand is high or supply is limited. Stable markets usually offer better deals on semi-trucks. 

Additional costs to consider

The cost of owning a semi-truck goes beyond the purchase price, with significant additional expenses that can impact your budget. These include insurance, fuel, maintenance, licensing, depreciation, and financing.

Insurance Costs

Insurance is mandatory and costs between $5,000 and $20,000 annually, depending on your driving record and the truck’s value. It ensures financial protection in case of accidents or damages.

Fuel Costs

Fuel is the most significant ongoing expense, costing $50,000 to $70,000 annually, depending on mileage and fuel prices. Trucks averaging 6.5 miles per gallon consume significant fuel, especially on long routes.

Maintenance and Repairs

Routine maintenance is crucial to keep the truck in good condition, costing $15,000 to $30,000 annually. This includes oil changes, tyre replacements, and other essential upkeep.

Licensing and Registration

Depending on the truck type and state regulations, licensing and registration fees range from $1,500 to $3,000 per year. These are required to operate the truck legally.

Depreciation

New trucks lose 20–30% of their value in the first year. Depreciation reduces the truck’s resale value and should be factored into long-term costs.

Financing Costs

Financing a semi-truck involves monthly payments ranging from $1,500 to $3,000, based on loan terms and interest rates. This is a significant cost for those who don’t buy outright.

Cost-saving tips when buying a semi truck

Buying a semi-truck doesn’t have to break the bank. Here are some simple ways to save money:

Choose Certified Pre-Owned Trucks

Certified pre-owned trucks are cheaper than new ones and still reliable. They often include warranties, giving you extra protection.

Negotiate Financing Terms

Negotiate with lenders to get better interest rates and loan terms. This lowers your monthly payments and total loan cost.

Pick Fuel-Efficient Models

Fuel-efficient trucks help you save money on fuel every year. Look for models that give more miles per gallon.

Buy from Reputable Dealers

Reputable dealers offer fair pricing and dependable trucks. They also provide better warranties and after-sale support.

Stick to Regular Maintenance

Regular maintenance prevents expensive breakdowns and keeps your truck running longer. It’s a small investment that saves big in the long run.

New vs. used: which option is better?

Choosing between a new and used semi-truck depends on your budget and needs.

• New Semi-Trucks: These are best if you want reliability and long-term warranties. However, they require a higher upfront cost.
• Used Semi-Trucks: These are ideal for smaller budgets or expanding a fleet. They cost less initially but may need more maintenance over time. 

Example cost breakdown

For New Semi Trucks 

Here’s an example of the annual costs for owning a new semi-truck priced at $150,000:

Expense	Estimated Cost
Truck Purchase Price	$150,000
Insurance	$10,000
Fuel Costs	$60,000
Maintenance	$15,000
Licensing and Registration	$2,500
Depreciation	$30,000 (20% of purchase price)
Financing Payments	$36,000 ($3,000/month)
Total	$303,500

For Used Semi Trucks 

To give you a clearer picture, here’s a hypothetical breakdown of first-year costs for a used semi-truck costing $70,000:

Expense	Estimated Cost
Purchase Price	$70,000
Insurance	$10,000
Fuel (100,000 miles/year)	$60,000
Maintenance	$20,000
Licensing and Registration	$2,000
Total	$162,000

Also Read: How to Drive a Semi-Truck.

Matrack – your semi truck fleet manager

Matrack provides tools to help you manage your semi-truck efficiently. From GPS trackers to dashcams, fuel cards, and ELDs, Matrack ensures your truck runs smoothly.

GPS Fleet Tracking

Matrack’s GPS fleet tracking updates your semi-truck location and status in real-time. They help with accurate ETAs, theft recovery, and alerts like tow and ignition warnings.

Fleet Dash cam

Matrack’s fleet dash cam uses AI to improve safety and record both inside the cab and on the road. They provide clear 1080p video and alerts like collision and lane departure warnings.

Fuel Card

Matrack fuel card gives a discount on early payments and a 60-day interest-free period. They also help spot fraud and save on fuel expenses.

ELD

Matrack’s ELD is affordable, with no upfront costs and a small monthly fee. It helps you follow electronic logging rules and is easy to set up.

Conclusion

New semi-trucks cost more but provide reliability and lower maintenance initially. Used semi-trucks cost less upfront but often require more repairs and upkeep.

Considering costs like fuel, insurance, maintenance, and depreciation is important. Choosing between a new semi-truck and a used semi-truck depends on your budget and business needs.