Should You Rent or Buy a Trailer?

Should you rent or buy

Trailers are extremely useful for both business and personal, and there are many different trailers for sale or to rent on the market. Businesses often find it necessary to own their own trailers, especially if they are being used daily. Buying a new trailer can help a landscaper or builder expand their business and offer their customers better service. But not everyone needs or wants to own a trailer, and many companies choose to rent one when they need it, for whatever job they need it to.

If you use a trailer for your business or leisure activities, only you can decide whether it is best to buy or rent. One way to make that decision is to compare the total cost of ownership with the cost of renting.

Cost of Buying a Trailer vs Renting a Trailer

The initial costs of buying a trailer are obviously a lot more than renting one for a week. Renting a trailer for a week is roughly a quarter of the cost of buying your own trailer. If you know you only need the trailer for one specific job or leisure trip, renting could be the best option for you. However, if that initial job or trip leads to a number of similar jobs or excursions then the weekly rental costs will quickly add-up and may mean that the initial investment of buying a trailer makes more sense. In most instances, regular renting leads to buying a trailer as a business grows and expands.

Owning and maintaining a trailer is of course also not cost-free and besides your initial investment, there are also repair and maintenance costs to consider. While trailers are sturdy, robust and fairly basic in design, they still require maintenance, and long-term trailer ownership does incur costs, especially if you use the trailer regularly and want it to last a long time. Before you commit to buying a trailer, you need to consider all the cost implications, including annual maintenance, cost of repairs, general wear and tear, warranty and insurance, safety inspection fees, and possible future upgrades. All these costs increase the total cost of owning a trailer and need to be factored into your cost of ownership, even if they are paid overtime rather than upfront.

Another consideration to keep in mind, besides costs and frequency of use, when deciding on whether to buy or rent, is where you will store your trailer. When you rent a trailer, you don’t need to worry about storage but when you own a trailer you need a dedicated place to park it. If you need to rent a storage unit or lot for your trailer, then that is going to add to the overall cost of buying one.

Why Rent?

Renting is great if you only need to use the trailer occasionally. You simply pick it up and drop it off at your convenience and the owner is responsible for all the repairs, maintenance, fees, and other long-term costs. Renting gives you the flexibility to get exactly what you need for a particular job, without owning a fleet of different trailers, and is also a great short-term solution for a new business that can’t afford to buy a trailer immediately but needs one for several quick jobs or to get themselves up and running.

If you are considering buying or renting a trailer only you will be able to make the final decision, but that does not mean you won’t need help. To do your research properly, you will need information about the cost of buying and owning a trailer as opposed to renting, and at McFarlane’s, we can advise you on the various options and you can view our large selection of rental trailers. We can tell you everything you need to know and help you choose a suitable trailer for your specific needs from our extensive line-up of trailers for sale or rent.