Experts say you should consider replacing your truck when your fuel mileage drops 2 miles per gallon in spite of conservation efforts, or if a newer truck would yield an additional 2 mpg. Another indication to trade is when your total maintenance costs reach 15 percent of your gross revenue.
Or as a rule of thumb, consider a new purchase when the principal, interest, maintenance and operating costs of an old vehicle are higher than the comparable costs attached to a new vehicle. The estimated resale value of the old vehicle, coupled with any manufacturer’s incentive on a new vehicle, may offset the higher cost of a new vehicle’s principal and interest.
The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm. The program is sponsored by TBS Factoring Service.