Are you in the market for a trailer? If you have looked for trailers in the market before, regardless of the type you’re looking for, you’ll find that they can be very expensive. When getting a trailer, the biggest problem is finding something suitable at a price you can afford.
Buying a trailer can have its perks. However, renting a trailer might be a better option for many people needing one. The key is thinking about it from a long-term perspective to decide between buying and renting a trailer.
Do you think you will need the trailer for a short time or need to use one regularly? Will you consider your trailer an investment from which you can get returns? Perhaps, it is simply an expense you are not bothered with recovering. Buying vs. renting a trailer both come with benefits and drawbacks.
Making the right decision is all about completely informing yourself of everything you need to know. Making a well-informed decision can help you make the most of your decision, whether you buy or rent a trailer.
Today’s post will weigh both sides of the buying vs. renting debate. Based on your needs, we are confident that you will know what to go for when you finish reading.
The Different Types of Trailers in the Market
Before we get into the buying vs. renting a trailer debate, it’s important to understand which type of trailer fits your needs. There are several market trailer types, each offering different features. The most suitable trailer can be drastically different based on your intended use.
Here’s a look at the different types of trailers you can buy or rent and a quick overview of what they are suitable for:
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Utility Trailers: They are versatile workhorses suitable for a wide range of hauling applications. Their open design makes them excellent for several tasks.
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Dump Trailers: They are ideal for heavy-duty waste disposal and can provide an alternative to large dumpsters.
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Flatbed Trailers or Car Hauler Trailers: Like utility trailers, they offer plenty of versatility in the types of jobs they can handle. Their open design allows for various towing applications.
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Enclosed Cargo Trailers: While they have limited space due to their design, they are excellent for keeping your cargo safe from the elements and theft in transit.
Choosing the type of trailer you need is the first thing you should do. Once you decide on the type, you must consider the size you need. The right size will be based on your cargo-hauling needs. Ideally, you should get a trailer that’s slightly larger than what you expect to need. This way, you can have extra cargo space if you need it. Having a trailer slightly larger than you need is better than getting one that cannot fit your cargo.
Deciding on the Size of the Trailer
Whether you are buying or renting a trailer, here are a few things that can help you make a better decision on the size:
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How much weight you expect to haul: The size and axle configuration of the trailer depends on how much load you intend to carry. The trailer must have a load-bearing capacity that’s large enough to haul your cargo.
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Your vehicle’s towing capacity: You cannot take your trailer anywhere unless your towing vehicle can pull it. Think about your truck’s pulling power and consider the potential total weight of your cargo and trailer. Your truck must be able to pull the weight comfortably.
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Hitch type compatibility: Trailers can have different types of hitches. You need to ensure you get one that has a hitch compatible with the one on your truck. Otherwise, you might need to spend more money installing the right setup on your truck.
Thinking about these three things before considering the debate on buying vs. renting a trailer is important. Knowing exactly what you need will give you a realistic idea of your needs and how it can all translate to owning or renting a trailer.
Buying vs. Renting a Trailer | The Advantages of Buying a Trailer
Why consider buying a trailer? They are expensive and require plenty of maintenance, making their lifetime costs high. Of course, buying one can work for you, whether you need it for professional or personal use. Here are some of the advantages of buying a trailer instead of renting one:
It’s Always Available
Perhaps the biggest advantage of owning a trailer is having it available whenever you need it. As opposed to renting one, you don’t need to contact a trailer rental company and look for available rental trailers. Additionally, you can use it instantly instead of waiting for a company to drop a rental trailer off or picking it up yourself.
Use it as You Like
When you outright own a trailer, you can use it however you like. You will not be limited by any terms and conditions set by a trailer rental company. Additionally, you can rent it out to people and businesses for extra money when you’re not using it.
You can Customize it
Versatility is the best thing about trailers. Owning a trailer means you can customize it however you need. When it is your property, you can add more features or make changes to make it more suitable for your needs.
It’s an Investment
When you buy a trailer, you effectively own a tangible asset. Trailers are not cheap to come by. Provided you take good care of it, you can still fetch a good price by selling it later.
Buying vs. Renting a Trailer | The Advantages of Renting a Trailer
Why rent a trailer? With rental trailers, you cannot customize the trailer to your specifications. Granted that it won’t be your property, renting a trailer might be the perfect solution for you. Let’s take a look at some of the advantages of investing in rental trailers instead of buying one:
You Pay Only for What You Need
If you only need to use a trailer for a short time, finding trailers for rent and getting the most suitable one might be the best solution. Just think about it: You will pay rental charges for the trailer for only as long as you need to use it. There will be no high one-time purchase price for you to dish out. Renting a trailer can be much easier on your pocket than burning a hole in your pocket to buy one.
No Storage Issues
Suppose you own a trailer, but your property does not have much space. In that case, where will you park it? What will you do when you need storage space but have no room due to your trailer? Trailers take up a lot of parking space. When you rent a trailer, you can pick it up or drop it off whenever and wherever you need it. After you finish using it, you can drop it off and not worry about parking it.
You Don’t Need to Worry About Maintenance
People and businesses who own rental trailers must maintain them properly. Besides ensuring safety, people who rent out their trailers know they can get better rates if their trailer is in great condition. Trailer maintenance can get pretty expensive. Owning one can be costly unless you rent out your trailer often. Renting a trailer means you don’t need to worry about keeping it well-maintained.
You Have More Options with Rental Trailers
Granted, you cannot customize rental trailers. However, you might have much more flexibility if you decide to rent. The right peer-to-peer trailer rental marketplace will have plenty of available listings. When you’re looking at the right place, you can find the best fit for your needs, from standard utility trailers to specialty trailers.
You can Always Choose Another Trailer
Suppose you run a business requiring extra hauling capacity for different projects. In that case, investing in rental trailers might be much better for you. A flatbed trailer might be perfect for you to haul equipment to a job site. However, you cannot rely on it to haul the waste away from the job site after finishing the project. When you own a trailer, you have to make do with whatever type you have. Renting a trailer means you can choose to invest in the right trailer type for every job.
Buying vs. Renting a Trailer | Final Thoughts
Renting a trailer might be the perfect option for many people because it costs far less in the short term than buying one. Owning a trailer demands constantly investing in your asset to keep it well maintained.
Renting gives you more flexibility in choosing the right trailer for the right job, but you are stuck with what you have when you buy one.
Renting a trailer might make it impossible for you to customize the trailer. However, you can always find plenty of customized and specialty trailers if you look for rental trailers at America’s first peer-to-peer marketplace for trailer rentals. Unless you plan on buying a trailer to use it as an income-generating asset through rental income, renting a trailer is the best way to go!
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