To rent or to buy? That is the question that many people are asking themselves when they are faced with a need to transport large or heavy materials. If you are asking yourself this same question, continue reading to learn some key points to consider in order to aid in your decision making process.
Renting Versus Owning
Whether you are moving into a new home, planning some major landscaping renovations, or preparing for a long-distance road trip, it is likely that you will need to transport some heavy items. Although you can choose to rent a trailer for all of these needs and more, you also have the option of investing in one. In order to feel confident about your decision to rent or buy, here are some key points to consider:
⇛ Trailer Type – Which type of trailer will you need for your transportation objectives? There are several different types to choose from, including trailers designed for boat towing, motorcycle towing, dolly towing, flatbed towing, and more. All of these range in price as well. Once you determine which type of trailer best fits your hauling needs, you can move forward with the decision-making process.
⇛ Trailer Cost – You must set a realistic budget for yourself, whether you plan to purchase new or used. If you purchase a used trailer from a private seller, it is important to ensure that is in good condition in order to make your investment worthwhile. If you feel like purchasing a trailer is out of your budget, you may want to stick with occasional rentals until your budget expands.
⇛ Trailer Storage – Owning a trailer is one thing, but storing it is another. Many people make the mistake of not thinking their purchase through. They get the trailer home and then realize there is nowhere to keep it, which leads to unexpected additional costs, such as a storage unit or shed installation. You must also check with your neighborhoods HOA to ensure they allow trailers in driveways.
⇛ Frequency of Use – If you only need to use your trailer for one job, renting is the best option. However, if you feel confident that you will get a lot of use out of your trailer, owning one is more lucrative. Create a list of all the possible tasks you can do with your trailer to see if it is worth the investment.