Introduction
With rising costs and longer delivery times, every fleet manager eventually faces the same question: should I repair this truck or heavy equipment, or should I invest in something new?
The truth is, there’s no universal answer. It all depends on your data, your priorities, and your operational situation. With a tool like MIR-RT, you can compare both scenarios and make a decision based on facts rather than assumptions.
Here are 5 key criteria to guide your choice :
1. Calculate the True Total Cost of Ownership (TCO), Not Just the Purchase Price
Buying a new truck or heavy equipment is not just about paying the sticker price. You also need to account for:
- Financing (often more expensive with rising interest rates)
- Taxes and registration fees
- Necessary add-ons (GPS, specialized equipment, accessories, etc.)
- Delivery delays, which can sometimes range from 6 to 18 months
By contrast, repairing equipment already in service can cost up to 8 to 10 times less, with a return to operations in just a few days.
2. Rely on Your Maintenance Data, Not on Assumptions
A proper fleet management software gives you clear visibility on:
- Service and repair history
- Cumulative costs per asset
- Actual profitability (cost per km, cost per hour, or operational yield)
Concrete example:
Truck #306 generated $6,000 in maintenance costs in 2024 for 80,000 km traveled.
Result: $0.075/km.
Compare this with the per-kilometer cost of a new vehicle often above $0.20/km and the difference speaks for itself.
3. Prioritize Preventive Maintenance to Avoid Costly Breakdowns
A breakdown during operations can cost 3 to 5 times more than planned maintenance.
With proper maintenance management, you can:
- Automate preventive service schedules
- Detect issues before they cause failures
- Track key performance indicators (breakdowns/km (or miles), downtime cost, etc.)
Result : fewer surprises, reduced productivity losses, and higher operational reliability.
4. Compare Downtime Between Repairing and Buying New
Buying new : often means waiting several months before delivery and commissioning.
Repairing : ensures a quick return to the road or job site, sometimes in less than 48 hours if you have an in-house team.
With a tool like MIR-RT, you can :
- Optimize maintenance scheduling
- Manage workshop priorities
- Minimize downtime
Every day saved means revenue keeps flowing.
5. Maximize the Residual Value of Your Equipment
A well-maintained vehicle or heavy equipment holds its value longer.
- Less accelerated depreciation
- Easier resale
- A complete maintenance record that builds buyer confidence
According to TruckNews Canada (2024), a truck with a detailed service history can sell for up to 15% more than a comparable model without traceability.
With MIR-RT, these reports can be generated in just a few clicks, adding measurable value to your fleet.
Repair or Buy: Pros and Cons Depending on the Situation
Repairing is often the most advantageous solution in the short and medium term: lower costs, faster return to service, and preserved residual value. However, as an asset ages, repairs pile up. When environmental compliance or safety standards can no longer be met, repairs stop being a viable option.
Buying new requires significant investment and longer lead times but also brings advantages: access to more advanced technology, compliance with the latest safety and environmental standards, warranty coverage, available subsidies, and improved company image.
In summary:
- Repairing maximizes profitability as long as assets remain reliable.
- Buying becomes strategic when modernization, compliance, and competitiveness are at stake.
When Buying New Becomes the Better Choice
Sometimes replacing is smarter than extending an asset’s lifespan:
- If maintenance costs skyrocket
- If environmental standards are no longer met
- If outdated technology causes loss of competitiveness
- If grants or favorable financing are available
In these cases, good maintenance software helps document your choices and justify the investment to management.
Conclusion
Deciding whether to repair or buy new is not about habit. It’s a strategic decision based on your data.
With a solution like MIR-RT, you can:
- Track your actual costs
- Optimize preventive maintenance
- Compare replacement scenarios
- Justify decisions with precise numbers
Still Hesitating Between Repairing or Buying New?
With MIR-RT, you get the right numbers in just a few clicks to compare scenarios and make an informed decision based on your own data.
FAQ
When is it more profitable to repair than to buy?
Which indicators should I monitor to decide on replacement?
How can I reduce downtime costs?
Can fleet management software also justify buying new?
Sources
- American Trucking Association, 2024
- Fleet Maintenance Association, 2023
- NAFA Fleet Management Association
