Hotshot vs Semi Cost per Mile: The Formula and Worksheet
Cost per mile is the one number that tells you whether a load covers your truck. The math is the same for a hotshot and a semi — only some of the lines are different. This page gives you the formula, a worksheet, and the lines to watch. It uses no averages; bring your own numbers.
Last updated: 8 min readBy OverTheRoad.AI Team
Free tool: Run a load through your own costsTry it →The formula
Fixed per mile = monthly fixed costs ÷ total monthly miles
Fuel per mile = diesel price ÷ MPG
Upkeep per mile = (tires + maintenance + repairs) ÷ miles over the same period
Cost per mile = fixed + fuel + upkeep
Fixed costs are what you pay whether the wheels turn or not. Running costs grow with every mile. Splitting them shows why a slow month raises your cost per mile: the same fixed bills spread over fewer miles.
The worksheet
Fill in both columns if you are weighing the two, or just your own rig.
Truck payment / month
- Hotshot
- $ ______
- Semi
- $ ______
Trailer payment / month
- Hotshot
- $ ______
- Semi
- $ ______
Insurance / month
- Hotshot
- $ ______
- Semi
- $ ______
Plates, permits, IFTA, 2290 (yearly ÷ 12)
- Hotshot
- $ ______
- Semi
- $ ______
Phone, ELD, software / month
- Hotshot
- $ ______
- Semi
- $ ______
A. Fixed total / month
- Hotshot
- $ ______
- Semi
- $ ______
B. Miles / month (loaded + empty)
- Hotshot
- ______
- Semi
- ______
Fixed per mile (A ÷ B)
- Hotshot
- $ ______
- Semi
- $ ______
Fuel per mile (price ÷ MPG)
- Hotshot
- $ ______
- Semi
- $ ______
Tires + maintenance per mile
- Hotshot
- $ ______
- Semi
- $ ______
Cost per mile
- Hotshot
- $ ______
- Semi
- $ ______
| Line | Hotshot | Semi |
|---|---|---|
| Truck payment / month | $ ______ | $ ______ |
| Trailer payment / month | $ ______ | $ ______ |
| Insurance / month | $ ______ | $ ______ |
| Plates, permits, IFTA, 2290 (yearly ÷ 12) | $ ______ | $ ______ |
| Phone, ELD, software / month | $ ______ | $ ______ |
| A. Fixed total / month | $ ______ | $ ______ |
| B. Miles / month (loaded + empty) | ______ | ______ |
| Fixed per mile (A ÷ B) | $ ______ | $ ______ |
| Fuel per mile (price ÷ MPG) | $ ______ | $ ______ |
| Tires + maintenance per mile | $ ______ | $ ______ |
| Cost per mile | $ ______ | $ ______ |
Where a hotshot and a semi differ
- Equipment: a pickup and gooseneck vs a tractor and trailer — different prices and payments.
- Insurance: quoted on your rig, record, cargo and radius. Get quotes for both if you are deciding.
- Fuel: MPG differs by rig, load and terrain. Use your own receipts.
- Tires: different count, size and price per tire.
- Taxes and filings: IFTA applies over 26,000 lb or 3+ axles; Form 2290 at 55,000 lb taxable gross weight. A semi usually hits both; a hotshot may hit neither. See the hotshot rules guide.
- Revenue side: a semi can haul more weight per load. Cost per mile only means something next to what your loads pay per mile.
Pro Tip
Work out cost per mile every month, not once. Fuel prices, miles and repairs move it. A number from last spring can be off by the time you book the next load.
Frequently Asked Questions
How do I calculate cost per mile for a hotshot?
Add up your fixed costs for a month (truck and trailer payments, insurance, phone, permits spread over the year) and divide by the miles you drove that month — loaded and empty. Then add your per-mile running costs: fuel price divided by MPG, plus tires and maintenance per mile. The total is your cost per mile.
Is a hotshot cheaper to run per mile than a semi?
It depends on your own numbers. A hotshot usually has lower equipment cost and different fuel use, but it also hauls less weight per load, so it can earn less per mile. Compare cost per mile against what each kind of load pays you per mile, using your real quotes and records.
Should cost per mile include empty miles?
Yes. Divide by all the miles the truck ran — loaded and deadhead. Using only loaded miles makes the cost per mile look lower than it really is.
What MPG should I use?
Use your own: gallons bought and miles driven over the same period, from fuel receipts and your odometer or trip log. Fuel use changes with load weight, trailer, terrain and speed, so a number from a spec sheet is only a starting point.
Sources
- IFTA, Inc. — International Fuel Tax Agreement
- IRS — About Form 2290 (Heavy Highway Vehicle Use Tax)
- IRS — About Schedule C (Profit or Loss From Business)
Rules and fees change. Confirm with your base state and the agency before you file.
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