Should You Rent or Buy a Trailer?
If you’re on our website, there’s a good chance that you already understand the many benefits that trailers can provide. That said, is it better to buy one or rent one?
The answer will vary largely based on your situation. Different trailers have different uses, and you also need to take into consideration the deals that are being offered to you. Below, we’ll cover some of the major advantages and disadvantages of renting a trailer and borrowing one. By the end, you should have a better understanding of which option is best for you.
Buying a Trailer Means Acquiring an Asset
When you rent a trailer, you’re only getting it for a limited time. That means the money you spent on the rental is gone once your rental period is up. While this saves you money in the short term, it obviously becomes less cost effective each time you need the trailer.
When you buy your trailer, you can use it whenever you want. More than that, it also counts as an asset. This means it’s advantageous tax-wise: instead of it counting as a one-time purchase, you can spread out the amount it counts towards your taxes over multiple years. It can also be counted as an asset when you’re looking for a loan.
Trailer leases have a significant advantage over car leases here: while the latter depreciates quickly once it’s been driven off the lot, trailers keep much of their resale value. As well, they require very little upkeep when compared to cars or other vehicles, which means
Determine How Much You Need to Use The Trailer
How long you need to use the trailer for will be a major factor in determining whether it’s more cost-effective to rent or buy the trailer. This makes sense: if you only think you’re going to use the trailer once, there’s a strong argument to be made for rental.
Along with this, you also need to take into account the number of miles you’ll be renting the trailer for. Some rental companies will charge you per mile, so even if you need to take it cross-country for a week, you could end up discovering that buying is more cost-effective than renting.
If you’re unsure, it’s also worth noting the fact that trailers don’t depreciate in value too much over time. This means that if you don’t need the trailer as much as you expect to, you should be able to sell it for not much less than what you paid for it.
Looking for a Trailer in Arkansas?
If so, you’ve come to the right place. At Silver Moon Trailers, we’re always happy to help people find the trailer best suited to their needs. Along with the many different kinds of trailers you can find on our Arkansas lot, we also have replacement parts available.
If you have any questions about our dealership or the trailers we have available, you can call us at 870.330.9133. We’re always happy to help people find the trailer best suited to their needs.