![]() Insurance coverage is one of the most important annual fixed costs. Expect a down payment somewhere between $1,000 to $10,000-depending on the vehicle you choose. So how much does a truck cost? Buying a truck can cost you anywhere between $15,000 to $175,000. You may pay more dollars for the specs above, but this will translate to an average of eight to 10 years of worry-free operations without expensive repairs.Ī common mistake that new truckers make is to save on equipment costs, only to regret this decision when the truck breaks down (countless times) and requires frequent repairs out of the base. However, you may also acquire a used unit for as long as its maintenance record is spotless and its files are accurate.Ī solid and roadworthy second-hand unit also has the advantage of having lower yearly insurance premiums, which is a route that makes sense for new businesses.Ĭhoose a rig that is five years old or younger, with a Detroit Diesel engine that has less than 600,000 miles in it. Paying a premium on these makes more sense down the line because your maintenance costs would be lower. The equipment you acquire should be in excellent condition. For three to five vehicles, it’s $206.įor more details and information about the registration fee, visit the UCR website. The UCR fee for up to two vehicles is $69. On average, you may require up to $500 to cover the cost of business registration. Here’s a detailed breakdown of the cost of business registration in each state. ![]() The cost of business registration may vary from state to state. Business registrationĪs a new business owner, you would also have to register your business. You can get an MC (motor carrier) / US DOT number for $300. Acquiring the US DOT numberīefore you start, you would require a US DOT (Department of Transportation) number. In aggregate figures, about 60-70% of your operating costs come from these variables. On the other hand, some of the variable expenditures would include fuel costs, various repair costs, and fines. Some of your fixed costs would include the price of your truck unit, regular maintenance, yearly permits, taxes, and insurance costs. The cost to start a trucking company may generally be divided between fixed costs and variable costs. You can begin with a single unit, so your startup capital is trimmed to an easily manageable level. “Less is more” is a valid point to consider as you start your own trucking business. If you ask yourself: “How much do I need to start a trucking company on a large scale?” A typical large-scale trucking business, on the other hand, could need $5 million in capital or more. This situation would favor smaller operations that can start faster with low investment capital needed. However, some drivers may earn more than that. of A clear profit exists for vehicle moving companies as about 4.8 cents is gained per operating dollar spent. Bureau of Labor Statistics, the median annual wages for all occupations as of May 2020 is $47,130. You may also require additional state-specific tax, which would be, on average, $500 per truck.ĭrivers may earn $0.40 cents per trucking mile or, on average, about $60,000 a year. Heavy Vehicle Use Tax and a permit may cost, on average, $100 to $600 per truck. ![]() ![]() IRP (International Registration Plan) plates could cost you anywhere between $500 to $3,000 per truck. This includes registration and formation documentation that, on average, cost from $900 to $1,500. How much does it cost to start a trucking company?Īn initial cost you can consider when starting your trucking company is about $6,000 to $15,000 (not including your equipment). Here is a breakdown of the trucking company startup costs you may have to bear when starting a new trucking business. But how much does it cost to start a trucking company? With the ongoing driver shortage, increasing freight demand, and rising rates, this could be a great time to start a trucking business. If you want to be an owner-operator, now is as good a time to start as any.
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