Have you ever watched a dump truck and thought about starting a hauling company? It is a profitable venture since construction, mining, and waste management projects will always require these large vehicles.
Once you have researched your market, understood the local laws, recognized the opportunities, and determined the profitability of such an enterprise, the next step lies in buying a truck.
But how much is a dump truck, and what are the factors involved in buying one? Individuals must know such details because any vehicle of this type involves a significant amount of money.
Further, your business will be successful only if you can deliver the required materials on time, according to the project owner’s requirements.
If fellows are starting a business of this type, it is natural to have plenty of doubts regarding the entire process.
This article will provide such information from the costs involved in buying the vehicles to other associated things they should consider.
What is the cost of a new truck?
Fellows have two options while buying a dump trailer: they must buy a brand new one (which will involve a considerable investment) or go for a used one (those require more maintenance than new vehicles).
A new trailer will cost a person between 100,000 USD to 2,00,000 USD, depending on various factors like model, year of manufacture, fuel requirement, tires, and maintenance costs.
For example, the average weekly fuel usage ranges between 1,000 USD to 1,500 USD, and the maintenance costs depend on the frequency of inspections and the vehicle’s working condition.
How much does an old trailer cost?
Some people choose to buy a second-hand dumper while starting a dumping business to save the costs of a new one. Although one can select this option, it comes with increased maintenance costs.
A used vehicle will cost between 30,000 USD to 50,000 USD, but the exact cost depends on its make, model, years of usage, and present condition. One should scrutinize the vehicle before buying it, paying attention to the tires, frames, rails, axles, engine, hydraulic lift cylinder, and related factors.
Other Costs to Consider
Insurance
Before starting a dumper business, you will require insurance costing you between 7,000 and 20,000 USD. Buying insurance is mandatory because it protects your business financially in case of accidents.
Although various types of insurance are available for a dumping business, it is better to choose one depending on your specific needs, like the size of your business and the number of trucks. It helps to talk with an insurance agent regarding this.
Fuel
A hauling trailer is a large vehicle, and the fuel costs are something you should consider seriously. You might spend between 1,000 USD to 1,500 USD per week on fuel since an average dumper uses around 5000 gallons a week.
Depending on the model, most trucks can cover between four to six miles per gallon. The fuel costs might vary from one state to another, so you should consider that beforehand.
These are some helpful details related to the question of how much is a dump truck and other related queries. You should conduct sufficient research before buying a dumper since it will play a central role in your hauling business and ensuring it is successful.