A well cared for truck will usually last longer than one that has not been cared for. How long do you think a truck will last without routine maintenance? What happens if all the transmissions, the engine and some components fail?
If major components like the engine fail then you should think about replacing your old truck with a new one. However, if certain truck parts fail, such as the axle or suspension, you can simply replace those truck parts. A truck can be kept as long as it provides regular service, is in good working order, and can get you from point A to B.
A new truck should last between ten and twenty years, depending on how it is used. New haul trucks are often accompanied by a service plan that will cover both major and minor truck services. If your engine breaks down, that would mean you either need to replace it (which could be as expensive as a new truck) or get a new one. If the truck is still in good working order, replace only the part of the truck that needs to be replaced.
On the other hand, the longer you keep your truck, the less valuable it becomes. When it gets to the point where the value of the truck is worth less than it is worth, then it’s time to let it go. In other words, if the truck causes more problems in terms of engine failure and regular part replacements, it may be better to invest in a new truck. It goes without saying that a new insurance, service plan, license, labeling and branding must now be done. By investing in a new truck, especially for long-haul driving, the old one can now be used for short-haul deliveries and pickups.
If you can, it’s ideal to maintain your truck for as long as you can. It’s also worth considering trading in your truck before the service plan expires, ie within five years. Then consider purchasing a truck that is new or less than a year old so you can continue with a service plan. This will keep your service costs to a minimum over the five-year period. If you can get a maintenance plan, that would be better. This will cover the costs of any required maintenance and should also cover the costs of new truck parts.
