As an owner operator, finding the optimal truck to suit your business needs is an important decision. With the right information and the right budget, owner-operators can expect to find a dump truck that’s ideal for them. In order to evaluate the total cost of owning and operating a dump truck, some additional costs to consider are fuel, insurance, tires for dump trucks, and inspection.
Costs associated to own and operate
Whether you’re opting for a new or used model, keep in mind used dump trucks will cost between $30,000 - $40,000, sometimes even up to $100,000 if they’re in top condition. So, how much does a new dump truck cost? The price of new dump truck models often times sell at over $100,000-150,000. Depending on the payment option and credit score, owner-operators can expect to finance at dump truck for as low as 5.49-5.9%.
For most commercial tri-axle dump trucks, insurance costs on average $6750 a year. For more heavy-duty trucks, insurance spikes up to $20,000 per year.
Most trucks get about 6 miles per gallon. Assuming about 3,000 miles per week, that means 500 gallons a week. The average cost of fuel in the US starts at $2.83 per gallon, yielding a total cost of $1,415 for fuel per week.
Dump truck tires can cost up to and above $1,000 per tire. That means the cost will run at about $6,000 for most standard tri-axle models, and $10,000 for semi-trailer end dumps.
If owner-operators aren’t mechanically inclined to check the used dump truck of their choice, inspection costs for used models run at $300 tops. If there’s a mechanic at hand, a rule of thumb is to ask to use their services up front. Too many owner-operators fall at the hands of shady inspectors only to find many surprises when they take their truck home.
It is important to consider all of the dump truck operating costs associated with ownership, before making the initial purchase.
Comparing Standard Models
When owner-operators consider the needs of their business, the tri-axle is versatile and a good all-around model to fit the bill. The cost of a used Tri-Axle dump truck can run $15,000-$100,000, depending on the condition. New models can run from $100,000-$200,000.
End dump trucks have key differences when it comes to power unit and trailer options. Just looking at an end dump trailer can cost $60,000, depending on whether it is a steel or aluminum trailer.
Not only should you consider the type of truck when evaluating cost but the manufacturer. There are plenty of styles to match your personality but remember that each manufacturer will fall into a different dump truck price range.
Pricing Table by Manufacturer
Maximize the Cost of Your Dump Truck
Tools like TRUX, a cloud-based dump truck logistics platform, can maximize your investment when owning a dump truck. TRUX allows dump truck owners to increase utilization during a given period of time. Owner-operators can set preferences to see all job notifications in their area - giving themselves visibility into the best jobs available. Any job that pops up in the area is sent directly to their phone. Over time, this allows savvy fleet owners the opportunity to strategically increase their fleets. Whether you are looking to increase the number of jobs you can take on with dump trucks you already own or you are just getting started, TRUX has the work you need to start or maximize your business.