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.
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:
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.
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 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 lose value as soon as it’s driven off the lot.
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 likely have less strict credit score requirements.
Disadvantages of buying used
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.
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:
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:
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.
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 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.
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:
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.
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:
Maintenance schedules.
Upgrade lists.
Oil changes.
If you are buying a used truck, once you confirm the truck’s history, you can assess the semi’s current condition.
Check the:
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:
Then, read on to learn what the Top 5 semi truck models are for truck drivers in 2024!
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.
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!
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.
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.
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.
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!
Are you interested in learning more about grp water tank for fire water, mbbr bio filter media, inclined tube packing product? Contact us today to secure an expert consultation!