The Ultimate Guide to Annual Truck Costs in Vietnam

My cousin, after years of saving, finally bought a brand new, shiny 7-ton Hyundai Mighty truck. Everyone celebrated with him, envisioning his transport business taking off. However, his joy was short-lived. Just a few months later, he was lamenting, “If only I had invested in land instead!” He had meticulously calculated the purchase price but completely underestimated the cost of owning and operating the truck.

His story resonates with many aspiring truck owners in Vietnam. So, what exactly are the annual costs of owning a truck? How can you budget effectively? This comprehensive guide will answer all your questions!

Essential Annual Truck Costs: What You Need to Know

1. Initial Costs: The Upfront Investment

These are the unavoidable expenses you incur when purchasing your truck:

• Truck Price: Varies depending on the brand, model, payload, and dealership. For instance, a Hyundai HD120S box truck at Thai Phong Auto on Le Van Luong Street, Thanh Xuan District, Hanoi, will have a different price than an Isuzu FRR90N canvas truck at a dealership on Nguyen Van Linh Street, Long Bien District.
• Registration Fee: 10% of the truck’s value for new registrations in Hanoi.
• License Plate Fee: 2 million VND in Hanoi.
• Compulsory Civil Liability Insurance: Mandatory; the fee depends on the vehicle type and insurance duration.
• Comprehensive Insurance: Optional but highly recommended for complete vehicle protection.
• Road Maintenance Fee: Payable annually, biannually, or triennially, depending on your preference.

2. Operational Costs: Keeping Your Truck on the Road

Beyond the initial costs, operational expenses are recurring throughout your truck’s lifespan:

• Fuel: Gasoline, diesel, or electricity, depending on the truck type. Fuel consumption depends on distance traveled, vehicle type, road conditions, and driving habits.
• Regular Maintenance: Oil changes, filter replacements, brake pad replacements, tire changes, etc., as recommended by the manufacturer or after a certain mileage.
• Repairs: Costs incurred when the truck experiences breakdowns or malfunctions.
• Toll Fees and Parking Fees: Depending on usage frequency and location.
• Washing and Interior Cleaning: Keeps the truck clean and prolongs its lifespan.

3. Other Costs: Planning for the Unexpected

Besides the two main cost categories, you should also budget for potential expenses:

• Traffic Violation Fines: In case of traffic law violations.
• Bank Loan Interest: If you finance your truck purchase.
• Depreciation: The truck’s value decreases over time.

7-ton Hyundai Mighty Truck

Estimated Annual Truck Costs in Vietnam

Truck Cost Breakdown

Important Considerations for Calculating Annual Truck Costs

• The table above provides estimated figures; actual costs may vary.
• Choose a truck that aligns with your needs and budget.
• Regular maintenance ensures optimal performance and fuel efficiency.
• Practice safe driving and adhere to traffic laws to avoid unnecessary fines.