Everything You Need To Know To Find The Best Tractor truck for sale

09 Apr.,2024

 

February 28, 2024

Estimated reading time: 4 minutes 

Whether you’re an experienced owner-operator or a driver who’s just starting a trucking business, purchasing a semi-truck can be a good investment, so long as you know what to expect and have a solid business plan. 

As you research how to buy a semi-truck, the following considerations may help you make an informed business decision. 

How much does it cost to buy a semi-truck?

One of the biggest decisions when buying a commercial truck is whether to purchase a new or a used rig for your business.

The following will play a factor in your choice:

  • The amount of money you have saved for a down payment.
  • How much of a payment your business can afford to pay monthly or weekly.

  • How much risk you’re willing to take with potential repairs.

Buying a brand-new truck

A new semi-truck can cost between $180,000-$200,000, depending on the make and model you chose.

Advantages of buying new

  • A new truck is usually covered by a warranty.
  • A new truck often has less risk of needing repairs.

  • A new truck is usually spec’d with the latest features.

Disadvantages of buying new

  • A new truck will probably cost more and require more money down.
  • A new truck will lose value as soon as it’s driven off the lot.

Buying a used truck

You can generally expect to pay between $40,000 and $111,000 for a used semi-truck.

Advantages of buying used

  • A used truck will most likely have smaller monthly payments and require less money down than a new truck.
  • A used truck will likely have less strict credit score requirements.

Disadvantages of buying used

  • A used truck warranty usually expires earlier and doesn’t cover as much for repairs.
  • A used truck may need to be upgraded sooner than a new truck.

What do I need to buy a semi-truck?

 

What you need to buy a semi-truck varies depending on the company or dealership you purchase a truck from, as well as how your business will pay for or finance the truck. 

If

you

pay

for

the

truck with cash

 

The truck dealership may require proof that you have a Class A Commercial Driver’s License (CDL). Since you are buying the truck outright and don’t need financing, the vendor won’t need to check your credit score or your previous buying history. 

If you finance the truck

The lender you finance through will usually require you to have a down payment, which can range from 1%-40%. The down payment amount varies based on:

  • Your credit score.
  • How long you’ve had a CDL.

  • If you have any commercial lending payment history.

Other financing requirements vary from lender to lender. Some items you may need to provide include, but are not limited to:

  • Proof of insurance.
  • Business filings.

  • Loan approval.

  • A Class A CDL.

  • Truck information, including the make, model, mileage and condition.

What should I

look for

when buying

a

 

semi-truck

?

 

1.

If t

he

cost of the

truck

fits

within your

business’

budget

.

 

There’s a good chance sales representatives are going to ask how much you can afford to spend on a truck. Know your answer and commit to it. 

2. If the truck meets your business needs.

Go into your purchasing experience with an idea of what you want in a semi-truck. There are many things to consider, including if you want:

  • A day cab or sleeper truck.
  • A manual or automated transmission.

  • A specific make and model of truck.

The type of freight your business hauls and how often you get home will determine what truck you need to get.

3. If the truck fulfills your must-haves.

It’s a good idea to create a list of all the things your truck absolutely cannot go without. Some of the most common things owner-operators find important include:

  • The way the truck handles.
  • What the truck looks like.

  • How the truck rides.

  • The MPG of the truck.

  • What features the truck comes with (especially safety and cost-saving features).

If you aren’t sure what type of truck is right for your business, we encourage you to do some research and talk to other owner-operators about what trucks they’ve had success with and ones they have not.

4. If the truck has a good history.

If you are purchasing a used truck, it’s always a good idea to run a history check on it.

You can get a holistic view of the truck’s history with information like:

  • Accident reports.
  • Maintenance schedules.

  • Upgrade lists.

  • Oil changes.

5. If the truck is in good condition.

If you are buying a used truck, once you confirm the truck’s history, you can assess the semi’s current condition.

Check the:

  • Overall appearance of the truck.
  • Mileage.

  • Sound of the engine.

  • If there’s any damage.

Most sellers will let the buyer drive the truck around to see how it rides. Some will even let you take the truck to a mechanic to confirm everything checks out.

Truck drivers know the impact a new semi truck can have on their success as a driver. The best semi trucks for truck drivers is a heated debate with each driver having their favorite. Though, you should know that you can't go wrong if you're driving or buying a semi truck in our Top 5 list. In this blog post, we will look into why each semi truck belongs in the Top 5, as well as the drawbacks of each.

So whether you want to:

  1. Buy a semi truck in the future
  2. Stay up-to-date on features of the latest semi trucks
  3. Or add to conversations with other drivers at the truck stop (without physical violence!)

Then, read on to learn what the Top 5 semi truck models are for truck drivers in 2024!

Top 5 best semi trucks for truck drivers

1. Best Semi Truck - Freightliner

You can expect to see Freightliner on every list comparing the best semi trucks for truck drivers. It's for good reason too because they are one of the nicest trucks for truck drivers in the US, with a market share of 40%! The Freightliner engine comes equipped with anywhere from 350-600 horsepower and up to 2050 lb of torque, which allows drivers to haul a variety of loads. Known to be aerodynamically efficient, Freightliners help you save money with fuel efficiency. They also cost less and provide top features that drivers expect from Peterbilts and Kenworths. With a great build quality and more accessible price, it's easy to see why the Freightliner is the best semi truck for truck drivers in 2024.

Interesting facts:

  • Cascadia is the signature of their semi truck models
  • More than 70,000 Class 8 semi trucks are sold annually
  • The highest market share with 40% of semi trucks!
  • Founded in 1942 by Leland James
  • Made the first semi truck with an all-aluminum cab
  • Aluminum is lighter and more affordable than steel 

Drawbacks:

  • Could have a lower resale value due to a saturated market
  • Maintenance and repair can be a hassle with long wait times

 

2. Most reliable semi truck - Kenworth

Kenworths are 18 wheeler trucks built by truckers for truckers. They have experienced drivers who advise on the design and features of their semi trucks. Kenworth semi trucks are known for making the driver's day on the road less stressful with their smooth navigational technology. They also have a reputation among truck drivers as one of the most reliable semi trucks and with lower operating and maintenance costs. While Kenworth semi truck models are heavier and less fuel-efficient, this gives them the sturdy feel that truck drivers love. If you are interested in a Kenworth, you should know that most drivers prefer the Cummins engine over others. It's also interesting to know that Kenworths are manufactured by PACCAR, the same parent company that makes Peterbilt 18 wheelers!

Interesting facts:

  • Founded in 1923 by Harry Kent and Edgar Worthington in Seattle and currently in Kirkland, WA
  • Second largest semi truck brands in the US with a 16% market share
  • Models include: T680, T680 Next gen, W990, and the W900L 

Drawbacks:

  • Heavier on materials and build than their Peterbilt counterparts and other semi trucks
  • More expensive than other semi truck brands
  • Lose out on fuel efficiency

 

3. Nicest trucks - Volvo

Though not as common in the US, Volvo is known to be an international leader in quality semi trucks. Volvos are the 5th most popular semi truck manufacturers in the US but are #2 in the world. And for good reason too, Volvos come from the same company that makes Mack trucks and have an excellent support network. It's hard to beat a Volvo for durability, performance, and comfort. Volvos are known to be more fuel-efficient and easier to drive because they're generally lighter and smaller in size. Volvo comes with cutting-edge technology such as dynamic steering, which gives additional torque to the steering column. This causes the steering wheel to return to neutral with ease and prevents crosswinds from moving the steering wheel.

Interesting facts:

  • Smallest market share of all top 5 semi trucks - 10%
  • 5 semi truck models in their VNL line
  • Industry-leading parts 

Drawbacks:

  • Repairs can be more expensive

4. Over the top truck - Peterbilt

Peterbilts are classic American semi trucks, and for style, there's no topping their iconic long nose. Peterbilt has two non-electric Class 8 semi truck models, Model 389 and 579. Both are high quality but they do differ from each other in looks. Model 389 has a more classic look and the 579 goes for a more modern design that makes significant aerodynamic improvements, with increased fuel efficiency. The Model 579 also has predictive cruise control, which improves fuel efficiency, and has the largest mattress you will find, making the Peterbilt one of the semi trucks with big sleepers! If you want to join Peterbilt's loyal fanbase, you can expect a lighter and more fuel-efficient ride thanks to the aluminum body. Made by PACCAR, the same semi truck manufacturers that manufacture Kenworth semi trucks, you can also expect a high-quality build and parts.

Interesting facts:

  • Similar market share as Kenworth, about 13%
  • Made by PACCAR, same as Kenworth
  • Started in 1939

 

Drawbacks:

  • Not the best truck for hauling heavy loads

5. Solid truck on the road - International 

As long as you avoid the International Prostar with the MaxxForce engine, which is known for severe breakdown issues, you can expect a good-looking and quality truck on the road. Historically, International semi trucks have been known for power and performance. Their Class 8 semi truck models include the Lonestar and the LT Series and were designed with the driver's comfort in mind. Drivers enjoy a pleasant driving experience thanks to the handling that International has become known for. Add increased safety due to improved front and side visibility and it's easy to understand why International semi trucks belong in the top 5 best semi trucks for truck drivers in 2024.

Interesting facts:

  • Navistar International Corporation holds an 11% market share
  • Located in Lisle, Illinois
  • Founded in 1986 

Drawbacks:

  • Prostar with the MaxxForce engine is known to have serious breakdown issues

Top 5 nicest trucks

You've made it to the end of our guide for the Top 5 Best Semi Trucks for Truck Drivers in 2024! You now have a solid understanding of which semi trucks are the best and the reasons why. Don't forget that the best semi trucks among drivers are based on the driver's needs and preferences. So while you might think that a semi truck is the best commercial truck, don't get into a verbal tussle with a driver at the truck stop over preference!

Speaking of preference, at MigWay we prefer the Freightliner Cascadia and the Volvo semi trucks because we've learned that's what keeps our drivers and mechanics happy. Both are driver favorites because they offer a smooth ride, plenty of torque, reliably handle tough terrain, and make long hours on the road more comfortable for drivers!

If you're looking for a trucking company with new and safe semi trucks, MigWay is a perfect choice. We offer drivers a safe driving experience and the opportunity to take their professional driving careers to the next level.

Get in touch with our recruiter today to learn more!

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