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How Much Does a Semi Truck Cost?

Is the cost of a new semi the main reason why you’re not an independent trucker? Cost is definitely a major concern. But how much does a semi truck cost anyway?

When you dream about being your own boss, your first question is “how much does a semi truck cost?” As you consider the costs, advantages, and disadvantages of owning a new or used semi truck–you may find that your dream is not far-fetched after all!

How Much Does a New Semi Truck Cost?

Typically, you can expect to pay between $100,000 to $200,000 for your shiny new rig. Again, these prices vary depending on the features you choose. 

A new trailer can add up to $50,000 to the cost of a standard rig. For example, trailers specifically designed for logging trucks or long combinations cost much more than standard trailers. 

So, how much does a new semi truck cost? It all depends on which vehicle you feel meets your needs and expectations. Using free online calculators can help you determine if your current operating capacities can support the increase cost of a new semi truck.

Average Cost for a New Semi Truck

The average cost for a new semi truck depends on the model. Low-end models can run around $99,000, mid-market vehicles average about $150,000, and high-end models can go for more than $200,000.

Decide which models match your needs. Make a list of specifications and then compare prices. You’ll also want to research lenders to make sure they will finance the model you’ve chosen.

Down payment is another factor to consider. Most financial institutions require 15% down on an average priced vehicle of $150,000. 

Going into debt is always a bit scary. If you’re still unsure, think about the benefits of having that new semi truck.

Benefits of Buying a New Semi Truck

Driving a new vehicle is a rewarding experience. Everything is shiny and it smells good. The sense of pride in having a dream come true is priceless. But, they aren’t the only benefits of buying a new semi truck. 

Here are a few more:

  • Better Warranty: Covers major damages or performance issues 
  • More Economical: New trucks get more mileage per gallon
  • Tax Deductions: Depreciation helps offset taxes

Aside from financial benefits, new semi truck owners have peace of mind. Fewer breakdowns mean less money spent on repairs. It also means spending less time off the road or facing upset customers. 

How Much Does a Used Semi Truck Cost?

When trying to decide between a new or used semi, the cost will be a determining factor. How much does a used semi truck cost? On average, a used semi will cost around $180,000. Older models can go for less than half the price of new trucks.

The low price means smaller monthly payments, lower insurance rates, and lower taxes. When asking, “how much does a semi truck cost,” these factors should be considered.  

Used trucks are lower in price for many reasons. They may have high mileage and excessive wear. The problems can cause higher fuel costs and more repairs. An unscrupulous seller may not reveal things like engine problems or other issues. 

Average Cost for a Used Semi Truck

Like new trucks, used semi trucks have a range of prices. Depending on the features, age, mechanical issues, and appearance, the average price range is as follows:

  • High-End: $180,000+
  • Mid-Market: $100,000
  • Low-End: $35,000

Clearly, the average cost for a used semi truck is fairly reasonable. But the true condition of the vehicle can be unknown in some cases. Buyers should shop around and ask questions before making a final decision. 

Benefits of Buying a Used Semi Truck

The benefits of buying a used semi truck depend on several factors. Well-maintained used trucks can provide many miles of trouble-free driving. 

Additional benefits of buying a used semi truck include:

  • Less risk
  • Cheaper upfront cost
  • Lower depreciation

The decision to choose a new or old vehicle can be difficult. It’s a tedious process that requires careful examination of the pros and cons. 

Costs to Consider When Buying New or Used 

Whether purchasing a new or used vehicle, truckers incur several inevitable costs that can really add up. 

Some of the costs to consider when buying new or used can include:

Fuel Costs

Rising fuel costs and higher fuel-use taxes affect new or used vehicles. However, new vehicles are more energy-efficient, which saves money.

Repairs / Maintenance 

New semi trucks may come with a warranty that covers various repairs for about three years. Used trucks often need repairs soon after purchase with no warranty to help defray some of the expense. 


In the world of trucking, insurance is a major expense for any company, large or small. Newer vehicles have higher insurance rates than older ones. This happens because physical damage to new vehicles costs more to repair.


Other costs to consider when buying new or used trucks include licenses, permits, and taxes. Unless exempt, truckers must pay IFTA, IRP, CDL, and DOT fees to obtain their licenses and permits.

Purchasing vs. Leasing

The choice between purchasing vs. leasing a semi truck can be confusing. When financing through the dealer or a bank, down payment and interest rates will be a consideration. 

Leasing plans are similar to renting a vehicle. However, leasing requires a 2-5 year contract. Monthly payments are lower than those paid to a bank. 

How much does it cost to lease a semi truck? Lease payments can range from $800 to $2,500 a month. Some lease contracts offer a maintenance plan for an additional cost.

The purchasing vs. leasing options must be weighed carefully to ensure that you’re getting the best deal.

Financing Options

Buying a new or used semi truck is a major decision. Once the decision is made, it’s time to think about financing options. 


Requires no down payment. Maintenance and repairs are covered by the rental company. Renting is sometimes the best option for short-term needs.


Similar to renting, the lessee doesn’t own the vehicle. This is a good option for long-term needs. The contract can extend from three to five years and payments are lower than traditional financing options.


This financing option gives the buyer ownership of the vehicle. Before financing the vehicle, most banks require a down payment. Financing is the best option for truckers who can’t pay cash for their vehicle. 

Own It, Drive It, and Love It

Owning a new or used semi truck gives truckers a sense of pride and a feeling of accomplishment. The element of independence can’t be understated and with TAFS financing, owning a truck can be a dream come true. Learn more about truck financing and other financial solutions with TAFS today!

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