Partners in Business tip: When to upgrade your truck

The Partners in Business program is sponsored by TBS Factoring.The Partners in Business program is sponsored by TBS Factoring.

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.

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The Business Manual for Owner-Operators
Overdrive editors and ATBS present the industry’s best manual for prospective and committed owner-operators. You’ll find exceptional depth on many issues in the 2021 edition of Partners in Business.
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