How to plan for truck and equipment replacement
Vans and major tools wear out on their own schedule. A simple plan keeps a breakdown from becoming a cash emergency.
- List what you depend on. Write down each vehicle and major tool with its age and condition.
- Estimate a replacement window. Use maintenance records and mileage to guess when each item will need replacing.
- Set aside a little each month. A small regular amount is easier than one big expense.
- Review costs of repairs. When repairs approach the value of the item, compare against replacing it.
- Talk to your accountant. Tax treatment of vehicles and equipment varies. Ask before you buy.
Common questions
How much should I set aside?
It depends on your fleet and cash flow. Start small and adjust with your accountant.
Should I buy new or used?
Compare total cost including repairs, downtime and financing, not only the sticker price.
See also the contractor guides and free tools.
General information, not legal or financial advice. Verify with your attorney or accountant.
Try BossHours free for 14 days
Field Hours $149, Office Hours $379 and After Hours $499 a month. Unlimited users on every plan, no setup fee, month to month, 14-day free trial.
Start your free trial