Cost of Truck

[Thornapple]

I've been thinking about the cost involved in "a" truck, and how to put that into a budget.
I was wondering if there is a rule of thumb figure.
Like say $2000.00
If your truck payment is $1000.00
Rebuild engine in 4 years $275.00
Tires in 2 years, $150.00
Transmission in 5 years, $100.00
Rearend(s) in 5 years, $100.00
Brakes in 2 years, $100.00
Oil change and lube, $275.00
etc..

What I'm getting at is planning for the future.
With $1000.00 monthly payment you know it's not a new truck. So that's why the cost per month goes up for the potential repair.
If the monthly payment was $1500.00 or $1800.00 which would be a newer or maybe new truck, the gross cost would stll be the $2000.00 but less would go to the repairs because you would have longer to get ready.

Does that make sence?

Should it be a sliding scale? Like every 3 months more is added to the potential repair fund because of the age of the truck.

Am I light on the $2k or heavy?

Then after you get a bunch of money in the potential repair fund you could ask yourself the question, is it smarter for me to make the repaires or take the money and buy a newer truck?

Also should that money be used for those repairs whether you have a failure or not?

Maybe too much time to think at a Panera bread store with wifi waiting for a load.

Thanks guys.
t.

 

[LDB]

The first thought is you need to factor on cost per mile not cost per month. For whatever truck you consider I'd try to find out the average TBO for the various systems. If engine overhaul is say 650k and yours has 350k on it then you have 300k to build enough into the maintenance fund to cover the engine overhaul. Timing may be different for yours than the average but you have to have some measure to go by. By using the cpm (cost per mile or cents per mile) and getting a total cpm for all maint/repair escrow you'll know if it makes sense to run that truck. If you are looking at a truck that needs a very high cpm escrow it may not make sense to consider that unit since it will dilute your bottom line too much to adequately prepare for eventualities with it. Good luck.

Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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