A decent cared for truck usually lasts longer than one which has not been looked after. How long do you think a truck will last without a routine maintenance? What if all the transmissions, the engine and some components fail on you?
If the major components such as the engine fail, then you should then think about replacing your old truck with a new truck. However, if certain truck parts such as the axle or suspension fail, you can simply replace those truck parts. A truck can be kept for as long as you provide it with a regular service, is in good running condition, and can take you from point A to B.
A new truck should last you about ten to twenty years depending on how it is used. New carrier trucks are usually accompanied with a service plan that will cover major and minor truck services. If your engine should break down, that would mean you must replace it (which could be as costly as a new truck) or get a new one. If the truck it is still in a good working condition then replace only the truck part that needs to be replaced.
On the other hand, the longer you keep your truck the less valuable it becomes. When you reach the point when the truck’s value is worth less than it’s worth, then it is 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 work out better to invest in a new truck. This goes without saying that new insurance, service plan, licencing, labelling and branding must now be done. By investing in a new truck especially for long distance driving the old one can now be used for short distance deliveries and pickups.
If you can, it’s ideal to keep your truck for as long as you can. It is also worth considering trading your truck in before the service plan expires, namely before five years. Then consider buying a truck that is either new or is less than a year old so that you can continue with a service plan. This will keep your service costs to a minimum for the five year period. If you are able to get a maintenance plan that would be better. This will cover the costs of any maintenance required and should also cover the costs of new truck parts.