Semi truck repair costs can be a daunting prospect for any trucker. With so many parts and components to maintain, it can be challenging to keep up with the expenses. Knowing how much it will cost to repair your semi truck can help you budget and plan for any necessary repairs. This blog post will discuss the costs of semi truck repairs, from minor maintenance to major repairs, to help you understand what you may need to budget for.
The Average Semi-truck Maintenance Cost Per Year
Semi-trucks require regular maintenance and repair in order to keep them running safely and efficiently. The average truck repair costs per year are approximately an estimated $7,500, however, this figure can be affected by a number of factors. Three cost-influencing factors that can affect the cost of semi-truck maintenance include the age and condition of the truck, the type of maintenance or repairs needed, and the cost of repair parts and labor. As the truck ages, the cost of repairs can increase as wear and tear on the truck accumulates. The types of repairs and maintenance required can also increase the overall cost, as more complex repairs are likely to be more expensive. The repair, parts, and labor costs can also vary depending on the part or service needed.
Regular maintenance such as oil changes, tire rotations, brake checks, and fluid flushes can help extend the life of the truck and reduce long-term repair costs. Scheduling preventative maintenance at regular intervals can help reduce the overall cost of semi-truck maintenance. Ensuring that all maintenance is performed at the designated times can help ensure that the truck remains in good working condition for longer, and can help prevent costly repairs down the line. Investing in regular semi-truck maintenance can help to extend the life of the truck and reduce the overall costs of ownership.
Most Common Semi Truck Repairs
There are a few things you can look out for to prevent unexpected breakdowns or repairs. Below is a list of the most common breakdowns in semi-trucks :
- Tire Blowouts: This is common due to the weight that most trucks carry while driving. You can prevent a tire blowout by maintaining regular inspections, accurate tire pressure, and replacing tires when necessary.
- Brakes: The brakes on a truck are another part hugely impacted by the weight the truck carries on a normal basis. Inspection of the brakes and regular maintenance will help offset the chance of having a breakdown or even an accident.
- Oil Leaks: Oil leaks will lead to a lack of lubrication which causes the parts of the truck to rub against each other ultimately harming many parts of the truck. This can lead to costly expenses as many parts are involved if an oil leak is not caught or taken care of in a prompt manner. As with the problems stated above, routine maintenance can help you prevent oil leaks from damaging your truck.
- Suspension: If your truck is shaking while you are driving you may have suspension issues. Pre-inspections and diagnostic checks will help prevent or identify the cause of your suspension problems.
Ways to Avoid Semi Truck Repair Costs
There are a few ways to protect yourself financially from unexpected semi-truck repair costs. If you do not own your truck, you can ensure that you lease your truck from companies that offer maintenance assistance. There are certain truck leasing companies that provide maintenance payments to use on routine and unexpected repair costs.
You can also work with a fleet company that offers discounts on maintenance and other basic repair costs. Large fleets are often able to get bulk prices on tires or other truck parts which owner-operators can take advantage of by leasing with these types of companies.
Ways to Finance Semi Truck Repair Costs
If you run into unexpected repairs and need cash to finance fixing your truck, there are a few financing options available from commercial vehicle lenders. Below are the four common ways truck drivers use financing to cover their repair costs.
Commercial Vehicle Title Loans
A commercial vehicle title loan is an option for those that own their semi-truck. Taking out a title loan works by having the lender hold the title to your vehicle as collateral for your loan. You then make payments back on the loan to regain ownership. All title loan terms are different depending on the value of your truck and your overall credit. You can get a good idea as to what the terms of your commercial vehicle title loan may be by using a loan calculator.
Refinancing
You can refinance a loan you already have on your truck in order to get fast cash for truck repairs. Refinancing helps by reducing monthly payments on your loan and saving you money each month. You can use the money saved by refinancing towards the costs of repairs. This is a great way to save extra money each month to help afford semi truck repair costs.
Personal Loan
If you have great credit, getting a personal loan to cover repair costs may be a good option for you. Most personal loans are unsecured meaning the lender does not require collateral. They also offer competitive rates compared to commercial vehicle repair loans but do require a good credit score. So if you are interested in a personal loan, it is important to ensure you have good credit.
Commercial Vehicle Repair Loans
There are specialized lenders who offer tailored commercial vehicle repair loans to help finance your costs. These loans can be great for drivers who may have bad credit or less experienced drivers as they have flexible terms. You can learn more about commercial vehicle repair loans here.
Summary of Semi Truck Repair Costs
Overall, unexpected repairs do pop up and can be costly for semi-truck drivers. There are ways to prevent these by staying on top of pre-trip inspections and regular maintenance. We provided the main occurrences of unexpected repairs and ways to finance these costs if needed.