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Is Replacing Your Old Truck Worth the Investment?

Triumph Insurance Group

August 4, 2016

Fleet Advantage has made public its second quarter 2016 Truck Lifecycle Data Index, TLDI, comparing all-in operating costs of early model Class 8 trucks to all-in operating costs of current model year replacements.

Results from the research indicate that fleet operators can reduce costs by up to $18,816 by replacing a 2011 cab or $9,521 for a 2014 cab. The savings stem from better fuel efficiencies, up to 14 percent, and a reduction of maintenance and repair costs.

Similarly, replacement for sleepers can bring in even greater savings, up to $19,432 for a 2011 model. Using data from Fleet Advantage’s Advanced Truck Lifecycle Administrative Analytics Software, the TLDI helps industry professionals identify when they should replace old trucks with newer models to help them save money.

TLDI Table

Source: Trucking News Online

“It’s clear that upgrading to a new truck provides significant benefits for fleet managers looking to strengthen their bottom line, and that fleets utilizing a shorter vehicle lifecycle will secure a competitive advantage,” said Brian McMahon, data analyst at Fleet Advantage. “First-year savings are impressive and rise exponentially when multiplied across dozens of truck units.”

Looking to get a new truck? Triumph Commercial Finance can make your financing situation as effortless as possible. Contact us to get started.