How Much Does It Cost to Rent a New Semi-Truck?
Whether you own a fleet of semi-trucks or are an independent driver, it might seem like purchasing your truck(s) outright is the best way to do business. But that isn't always the case; often, renting a semi-truck offers an ideal solution for businesses and independent operators alike. Semi-truck rental offers a host of benefits that may just make it the best choice for you.
The Advantages of Semi-Truck Rental
Renting a semi-truck as opposed to buying one comes with several advantages, depending on your needs. While it is true that for long-term usage buying is typically the better option, for short-term needs, renting is the way to go.
Renting is recommended if you have no regular need for an extra truck. For example, let's say you have extra product to transport or simply need to move several trucks worth of product in one go. If you buy a truck for these purposes, you have another vehicle that you don't really need. But if you rent one, then you give it back as soon as your needs have been fulfilled, similar to renting a car when yours is in the shop.
It is important to discuss the difference between renting and leasing. Though they are commonly seen as the same agreement, semi-truck rental is used for short-term or immediate needs, whereas semi-truck leasing usually locks you into using that vehicle for at least a year. Leasing also tends to take longer to get the truck to you, as a leased vehicle is often tailored to your specifications. A rental truck is ready immediately, allowing you to pay by the day.
Again, semi-truck rental is recommended only if you do not have any long-term need for the vehicle. If you only need the truck for a few days or weeks, then it is probably in your best interest to rent. Why buy a brand new semi-truck only to use it once or twice? Renting gives you access to the latest and greatest in semi technology at a low cost, with no worries about maintenance or servicing, as the renter handles all of that for you.
How Much Does Renting a New Semi-Truck Cost?
The cost of renting a new semi-truck is determined by the duration of the rental, the type of semi-truck you choose, and the company you rent through. What follows is a general pricing guide, to provide you with an idea of what you can expect to pay for your semi-truck rental, broken down into the three main rental truck types.
- Single axle conventional day cab: This semi-truck has a gross combined weight capacity of 65,000 pounds and is recommended for local and city deliveries. It has an average rental cost between $170 and $200 per day.
- Tandem axle conventional day cab: Recommended for heavy loads, these semi-trucks are equipped with large fuel tanks and can hold up to 80,000 pounds. They have an average rental cost between $185 and $200 per day.
- Tandem axle conventional sleeper: Made for truckers on the long haul, these trucks give drivers the comfort needed on a long drive. They have a weight capacity of 80,000 pounds and double-bunk sleepers. These semi-trucks have an average rental cost between $200 and $225 per day.
Additional Cost Considerations
The cost of the vehicle itself is important and definitely one of the biggest factors in deciding whether to rent a semi-truck and where to rent from. However, there are other costs that must be taken into consideration. Costs such as:
- Environmental fees: If you are hauling materials deemed harmful to the environment (oils, petroleum products, solvents), these materials require proper disposal. For this, expect to pay an environmental fee averaging between $5 and $10 per day.
- Fuel: You're going to have to gas up your semi-truck, plain and simple. The cost of fuel averages between $2 and $3 per gallon, but those costs are largely dependent on your area.
- Insurance: Some companies allow you to choose the coverage you want, ranging from full coverage to liability. These costs depend on the individual and the insurance company.
- Trailers: It is important to note that a semi-truck is the part of the truck that tows the cargo, so you still need to have a trailer. If not, there is no way for you to haul anything. There are multiple types available, with costs averaging between $45 and $110 per day.