The arrival of a fire truck at a fire scene is one of the most welcoming sights in the entire universe. You are aware that this signals that the fire will soon be put out and that highly skilled personnel with the superior training and top-notch tools will be present to guarantee the safety of people and property. But how much did they actually spend on that fire trucks, and was it worthwhile for them to deduct that cost from your taxes?
Depending on the type of vehicle, the price of a basic fire engine or truck without equipment can be as little as $250,000 to as much as $6 million (occasionally). Additionally, the equipment can be expensive, costing up to the truck itself.
Is this a wise purchase? Here’s what you need to know about fire trucks because we’d like to believe so.
Fire Truck/Engine Types
There are many different types of fire trucks:
- Fire Truck (Aerial, Ladder)
- Pumper Truck (also called Fire Engine)
- Heavy Rescue Vehicle
- Tiller Truck (seperate steering rear wheels)
- Wildland Fire Engines (5 Types)
- Quints (Aerial and Pumper combo)
- A-Wagons
- Water Tenders
- Plus any specialist fire trucks that are developed for unique local situations
It’s also due to the availability of electric fire trucks in addition to new, used, and refurbished fire engines.
To accurately estimate the fire truck’s entire cost, you also need to factor in the price of the equipment.
In fact, buying a fire truck turns out to be a highly specialized task that cannot be accomplished by looking at a few firefighting brochures and declaring, “We want that one.”
Until putting together their specifications and sending them to manufacturers for quotes, the fire department may need to thoroughly assess their demands over a period of months or years. Once the order is accepted, it may take much longer before a fire truck is delivered.
Fire Trucks And Fire Engines Are Different?
It is real. Fire engines and fire trucks are two different things. What makes a difference, then?
The major way to distinguish the two, despite the fact that they may initially appear to be identical, is to search for a water tank. This will be aboard the fire engine along with the tools, hoses, and pumpers.
Fire engines arrive at fire scenes first and can start putting out the fire right away because to the big water tank on the back. The fire engine is extremely important because it can hook up to hydrants and carry hoses, but these actions take significant time during which the fire might spread. Firefighters can draw water from lakes, rivers, or even swimming pools in addition to the 750-gallon tank.
Fire engines arrive at fire scenes first and can start putting out the fire right away because to the big water tank on the back. The fire engine is extremely important because it can hook up to hydrants and carry hoses, but these actions take significant time during which the fire might spread. Firefighters can draw water from lakes, rivers, or even swimming pools in addition to the 750-gallon tank.
How Much Does A Fire Truck Cost?
If you were to purchase a fire engine or fire truck brand-new and then add equipment to the base price, there is no set price for them.
A pumper (engine) may cost $550,000, compared to a water tender’s possible cost of $250,000.
The cost of the most costly fire engine in the world is actually unknown (see below for specifics), but we do know that it was in the millions of dollars.
A pumper engine’s estimated cost of equipping is $840,000, according to the Dover fire department.
The most expensive “regular” fire apparatuses are ones with ladders, which can cost more than $1 million each, depending on how they are set up.
A problem that has not been accounted for is that many fire departments will need to commission electric fire vehicles in the far future, which seem to be even more expensive than diesel choices.
See more about How Much Does A Tow Truck Cost?
What Factors Contribute To A Fire Truck’s Price?
Depreciation
You might recall asking someone who has gone through the procedure before for help when you bought your first car. It’s possible that they discussed depreciation with you and how it should influence your purchase choice. The instant you drive a brand-new car off the lot and onto the road, it begins to lose value. When a new car is immaculate, it has the highest market worth; otherwise, just driving one depreciates its value.
Fire trucks will depreciate in value over time, just like automobiles do. When looking for a fire vehicle for your station, you can take advantage of this fact. However, depreciation can result in a lesser price if you’re seeking to sell a fire vehicle. Depreciation is at the top of this list since it has a significant impact on fire vehicle costs. When purchasing one, being aware of the depreciation calculation will help you ensure that you’re receiving the greatest deal possible.
To assist you in better comprehending how it functions, we’ll provide you with an anticipated depreciation calculation. These figures are simply approximations because other elements, such as the fire engine’s mileage and condition, also influence depreciation. However, they could still be able to assist you in choosing a fire engine that is within your budget. Use the following information to calculate the engine’s current value starting with the original purchase price.
- Year one: A fire truck’s average price could depreciate around 15% within its first year. This devaluation is the steepest hit because the engine is going from new to used for the first time or the manufacturer is replacing it with a newer, more desirable model.
- Year two: By year two, the fire truck could lose another 10% of its value.
- Year three: You can expect a 3-year-old fire engine to lose another 10% of its value.
- Year four: Take 7% off the fire truck’s value to account for depreciation in year four.
- Year five: In year five, you can subtract another 5% of the fire truck’s value.
- Each following year: Any fire truck will continue to depreciate at a lower rate for every year after its fifth year.
Marketplace Comparisons
Comparing a fire engine’s price to other, similar or unrelated fire engines on the market is another issue. You can observe how fire engine prices change by looking at recent sales data. After that, you can compare this pricing to those of other fire engines to gain a better sense of the market. There are three approaches to comparing products on the market to ascertain a fire truck’s worth.
Use the formulas from the preceding section to determine how much a fire truck’s value has decreased in comparison to models of a like kind. You’ll be able to find the best offer by doing this.
How its pricing stacks up against other listings for the same model: By comparing the price to other listings for the same model, you may immediately determine whether it is reasonable. Whether you come across postings that are significantly less expensive than others, be sure to read the tiny print to see if the fire engine has any issues. This method will also assist you in avoiding expensive fire trucks.
You may also obtain a sense of market prices by comparing fire engine models based on how much they cost in comparison to other types. Different models will come with extras and enhancements that could raise their price. A fire engine without some of the specific capabilities or more expensive models’ features will likely cost less.
Desirability
The value of a fire engine also influences its cost. The price of a fire vehicle could be more than the depreciation calculation would predict. Or, for a variety of reasons, a fire engine that seems trustworthy might sell for less money than you might anticipate.
Here are a few ways that attractiveness might affect how much a fire engine sells.
- The features of the fire truck are: A fire vehicle with all the necessary equipment typically costs more than one without. If a particular fire engine has the gear they require, fire stations may value it highly, driving up the price. This explains why the price of a ladder fire truck can be more than that of other fire engine models that do not have this useful function. Fire engines with custom enhancements and added equipment will also fetch a higher price than non-custom models.
- Supply and demand are two key elements that influence the prices of products and services globally. The supply and demand of a fire engine will also have an impact on its price. Due to strong demand and a limited supply, some heavy-duty fire engine prices continue to rise over time. The price of type 3 fire engines is one illustration of this. Prices for other fire engines can drop because of their lower demand and larger supply.
As you can see, it can be difficult to choose the ideal pricing for a new or used fire truck. You might be wondering how you can be sure you’re receiving a fair deal because there are so many variables that determine the typical price of a fire truck. You require a partner who can guide you through these challenges and simplify the purchasing and selling of fire engines.
How Long Does A Fire Truck Last?
As you now know, fire trucks are not inexpensive, so fire chiefs are quite concerned about their durability of fire trucks.
Every time one of your fire department’s extensive fleet of vehicles needs to be replaced, you could be looking at an expense of several million dollars.
Fortunately, fire trucks are sturdy constructions that can survive up to 20 years in service if properly maintained (a task that is frequently carried out by the fire company that staffs the truck).
Accordingly, a $1 million fire vehicle would require a $50,000 annual investment, ignoring any equipment that would need to be upgraded or replaced.
The time it takes to deliver a new truck, however, presents another difficulty for fire engine fleets.
They cannot wait for one to malfunction before immediately replacing it. These pricey vehicles aren’t mass-produced and then left to gather dust until they’re required.
Instead, they are made to order, which can result in a one-year wait between placing the order and the truck showing up at the station.
If you’ve ever wondered why Fire Chiefs are compensated so highly in a fire department, it’s because they are adept at juggling duties like these to keep the budget in check and ensure that there are enough fire vehicles in the city or region to offer a service.
Read more about: Why Are Fire Trucks Red?