Renting or Buying: How to Decide What’s Best for Your Business

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When you have decided that you need a trailer one of the first challenges you will face is making sure you get the right-sized trailer and the trailer that can provide for what you need. There are seven trailer styles that you can consider.

The size of the trailer that you need, and how often your business will utilize it, will be determining factors in deciding to buy or rent.

Trailer Types

  • Utility Trailer: For transporting tools, equipment, or supplies to a job site.
  • Car Trailer: This trailer would be ideal for transporting large equipment or moving a car.
  • Box Trailer: This trailer may be needed to deter from theft or protection from the weather.
  • Landscaping Trailer: This will be a large trailer for hauling heavy equipment and it can come with dumping capabilities.
  • Machinery Trailer: The size of this trailer will depend on exactly what you will be moving, but it will likely be large.
  • Customized Trailer: Your business may require a trailer with special adaptations or accessories.

Once you understand which type of trailer to choose, you need to consider its size. It would be better to pick a larger trailer. Having extra room in your trailer is okay, not having enough room means an extra trip. You must also have room on your property to store your trailer when it is not in use or you will have to pay storage fees somewhere else if you choose to buy.

Consider these points when deciding on the size of the trailer you will need.

  • Load Weight: What will the trailer weigh when it is empty or fully loaded?
  • Pulling Power: How large does the vehicle pulling the trailer need to be when the trailer is filled to capacity?
  • The Trailer Hitch: There are different kinds of hitches. Make sure that your trailer will connect to your vehicle.

You may realize that a trailer will not work after all. If the equipment that you need to transport in your business is too heavy for a trailer you may want to look at flatbeds for sale.

The next step you will need to make is to be sure that you fully understand your budget. Rather you buy or rent, the expense will be a major one. If you decide to buy a trailer, you are making an investment in your business. It is an investment that you can expect to see future financial gain from. There are expenses that will persist even after your trailer is paid for. There will be insurance and fees that vary from state to state. Any maintenance will be your responsibility.

If you know that you will not have a need for a trailer on a long term basis you may decide to rent. If you rent a trailer there is a fixed fee and you know exactly what your expense will be as long as you take the time to read the fine print before signing the paperwork. There is no upkeep, and if there is a problem with the trailer that you are using it will simply be a matter of swapping for a better one.

This is a decision for the business owner because no one else knows your business as well as you. You have successfully built your business and have reached a point where you can have this decision to make, so you can have confidence that you will make the best choice for the future of your company.