New Authority Checklist 2: Choose Your Player (Equipment)

Step 2: Choose your equipment

Determine your needs and preferences

First, consider whether you need to buy a tractor. You may currently be in a lease or own an older model, or you may be purchasing your first truck as a carrier owner/non-driver. 

There are *many* factors to consider in the type of truck to buy. We won’t go over every detail, but the most common considerations are: 

1. Sleeper vs Day Cab: do you expect to spend weeks on the road, or will you be home mostly every night? 
2. New vs Used: new tractors will be more expensive, but will require less ongoing maintenance costs (sometimes to a significant degree).
3. ELD-exempt: trucks manufactured on or before 2000, or truck using glide kits, are incompatible with ELDs and are exempt from using ELDs. You’ll still need to keep paper logs, but some truckers prefer paper over electronic logs.

Next, consider what kind of trailer you want to specialize in. You could opt to buy/lease a trailer, or you could haul Power Only, which means you’d only book freight that was already pre-loaded onto the customer’s trailer.

Operational requirements vary significantly across Dry Van, Reefer, Flatbed, and other Specialized trailers such as Tankers and Bulk trailers, so we recommend you choose a trailer that you have previous experience with. Certain types of freight will pay more than others, but costs and operational complexity usually accompany the rate increase. For example, the average Reefer load will pay more than the average Dry Van load, but Reefers cost significantly more to operate per mile than Dry Vans do.

Don’t forget that with each piece of equipment your maintenance requirements and costs will increase.

Set a budget

Equipment purchases will account for some of your largest investments in launching your trucking company. It is important to set a clear budget for these major purchases.

First, setting a budget prevents you from overspending and taking on too much debt when buying your truck, trailer, and gear. It’s advisable to have your accountant help you draft numbers on what you can afford to meet your needs.

Inspect the equipment

After you’ve found your equipment you’ll want to inspect it and take it for a test drive. If you have any issues whatsoever you will definitely want to ask and possibly have a mechanic look at it.

Maintenance records

It’s incredibly important to go over the maintenance records to ensure you are getting the equipment in the appropriate condition advertised. You will also want to keep this in mind as you run your business as record keeping is a major part of the trucking industry.

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Continue the New Authority Checklist series below:

New Authority Checklist 1: First Things First (Business Setup)

New Authority Checklist 3: Cover Your Assets (Insurance)

New Authority Checklist 4: Show Me The Money (Invoicing & Factoring)

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About TrueNorth

TrueNorth pioneers a new era for truckers, new carriers, and owner-operators. Born from a legacy of trucking roots, it transforms the industry's landscape with a cutting-edge operating system. By replacing outdated processes with a unified mobile app, TrueNorth empowers truckers with superpowers – a dispatcher, CRM, financial dashboard, and real-time market insights. Bridging the gap between traditional fleets and tech companies, TrueNorth champions truckers' profitability, offering tools, and support for streamlined operations. In a world where autonomy looms, TrueNorth remains the ally ensuring profits and efficiency for the heroes steering the wheels of commerce. Get started with TrueNorth today, and see how a trucker-first tech platform can revolutionize your operations.