Buying vs. Renting a Trailer
In need of a trailer? There are several different types of trailers that can be used for all sorts of things. From equipment and utility trailers to horse and cargo trailers, there are different kinds, uses, and brands. When you are in need of a trailer, are you planning on renting or buying? You may get different input from different people, but at the end of the day, it is your choice or your investment!
Buying Vs Renting a Trailer
Perks of Buying a Trailer
There are several perks to buying your own trailer. You now own it! You have the ability to use the trailer whenever you need it, and if it is for work, you can write it off as a business expense. But first, you need to figure out what trailer you want/need and what you plan to use it for. You don’t want to buy a trailer if you are going to need a different type sooner than later.
Are you using it for work? Moving materials? Moving furniture? Landscaping? Relocating your vehicles? Whatever you are using it for, you are going to want to look at the different types to figure out what would be a good fit. Then comes the budget. What can you afford and what are you able to spend on the trailer upfront? With owning, you can usually finance through most dealerships. This brings it down to an easy monthly payment!
Perks of Renting a Trailer
You don’t have to settle on just one trailer forever. You can easily have access to several different types whenever you need it. If you are not using it often, it would make sense to rent. You don’t have to worry about where you plan to store it either. You may also find that you need more than one. If you cannot afford a whole fleet of trailers for a project, you may want to consider an hourly or daily rate.
You also will not have to worry about paying for additional expenses. After you buy a trailer you are going to have to pay for other costs such as registration, storage, and accessories that you may need. Renting a trailer will allow you to use it when you want to, but not have to constantly put more towards funding it after your purchase.
Buying Vs Renting a Trailer Which is Best for You?
Have you decided what would be the best option for you? The first question you have to ask is how often you plan to use the trailer. If it is a daily or weekly thing, purchasing may make the most sense. If it is more on a task base or monthly, renting will make more sense for you! There are several dealerships that offer both!
For more information, call your dealership and ask about different payment plans for purchasing and rentals available. There may be different pricing for different types of trailers or different hourly rates. Whatever you choose, make sure to weigh all your options!