If you use a flatbed trailer for your business, there are three main ways you can get one: Buy it, lease it, or rent it. Depending on your budget, the project at hand, and several other options, any one of the three can work better for you. Of the three, purchasing one demands the biggest investment. Besides buying one, getting a flatbed rental or leasing one are the more affordable options. For most businesses, a flatbed trailer might be the best option to consider. However, leasing one can also be a viable option. To help you make an informed decision, this trailer rental guide will discuss the difference between leasing and renting.
To help you get the best bang for your buck, we will discuss the benefits and drawbacks of each choice. By understanding your options better, you can invest in the best way to get a flatbed trailer for your business.
Trailer Rental Guide | The Basics of a Flatbed Trailer Rental & Leasing a Flatbed Trailer
In some ways, leasing a trailer and getting a flatbed trailer for rent are similar in how they work. However, they have one major difference. When you lease a flatbed trailer, you technically own it. If you get a flatbed trailer for rent, you do not own it. You are only using someone else’s property and paying them rent for as long as you need to use it.
What to Know About Leasing a Flatbed Trailer
When leasing a flatbed trailer, you must pay a deposit upfront. After the initial payment, you must make monthly payments or rely on financing to pay the company leasing it to you. In a lease agreement, you own the trailer. Since the trailer will become your property by the end of the lease, you must pay for its repairs, maintenance, and insurance.
With most leases, you get a term of three or five years. In many cases, you can purchase the trailer by the end of the agreement. Depending on the trailer type, shape, and model, the charges can vary.
What to Know About Getting a Flatbed Trailer Rental
When you rent a flatbed trailer, you may need to submit a deposit. However, the deposit for a rental will be far lower than the deposit in a leasing agreement. If you have poor credit, it is easier to get a flatbed trailer rental. Since the agreement between you and the rental company is temporary, you will not own the flatbed trailer by the end of the rental agreement.
Additionally, renting a flatbed trailer eliminates the responsibilities of owning one. Since it is the renting company’s property, it must handle its repairs, maintenance, and insurance. For the duration you use it, you must pay rental charges to the rental company. Depending on the company you work with, you can get reasonable daily, weekly, or monthly rates.
Trailer Rental Guide | The Advantages & Disadvantages of Leasing a Flatbed Trailer
This section of the trailer rental guide will share the pros and cons of leasing a flatbed trailer to help you better understand this option.
Advantages of Leasing a Flatbed Trailer
- By leasing a flatbed trailer, you can own a tangible by the end of your leasing agreement.
- Since most leased models are new, you get the advantage of the manufacturer’s warranty coverage.
- Monthly leasing rates are typically lower than rental charges with traditional trailer rental businesses.
Disadvantages of Leasing a Flatbed Trailer
- Since leasing a trailer demands a deposit upfront, it can be difficult to get one when you are strapped for cash.
- Even if you do not use it, you must make monthly payments when you lease a trailer.
- Since you become the owner, you must cover all its repair, maintenance, and insurance expenses.
- Depending on the carrier, you might be limited to specific facilities to perform repairs on your flatbed trailer.
- If you do not have a good credit history, leasing a flatbed trailer can come with a massive upfront deposit and expensive monthly rates.
Trailer Rental Guide | The Advantages & Disadvantages of Getting a Flatbed Trailer for Rent
This section of the trailer rental guide will share the pros and cons of getting a flatbed trailer rental to help you better understand this option.
Advantages of Getting a Flatbed Trailer Rental
- Unlike with purchasing or leasing, you do not need to have a good credit score to rent a flatbed trailer. Regardless of your credit history, you can get a flatbed trailer rental at reasonable prices.
- Renting a flatbed trailer does not require a massive upfront investment. When you need one and do not have the capital to lease or buy one, a flatbed trailer rental offers an ideal and cost-effective solution.
- When you rent a flatbed trailer, you can get the latest model without making a massive investment.
- Since the company renting it to you is responsible for its maintenance and upkeep, renting a flatbed trailer is a more affordable option than leasing or buying it.
- By paying for one only for as long as you need it, you can rent different trailers for various projects without making big investments every time.
Disadvantages of Getting a Flatbed Trailer Rental
- If you work with a typical trailer rental business, long-term rentals can be expensive. Fortunately, the right trailer rental marketplace can offer a cost-effective alternative.
- Since you only pay for how long you need to use it, you will not own a tangible asset by the end of your rental agreement.
- With most traditional trailer rental businesses, you must contend with substantial terms and limitations on using the trailer rental.
Trailer Rental Guide | Where to Find a High-Quality Flatbed Trailer Rental for a Great Price
If you need one for long-term use and will not need differently-sized trailers, leasing a flatbed trailer might be a good option. It can be more cost-effective, and you will eventually own the trailer.
Suppose you need flatbed trailers for work, but the requirements change from one project to the next. In that case, leasing one will only limit you. For more flexibility, better convenience, and to eliminate long-term ownership costs, a flatbed trailer rental might be the best option.
When working with typical trailer rental businesses, a flatbed trailer rental can cost more than leasing. Between charges based on mileage and various hidden fees, traditional trailer rental businesses might make you consider leasing one. However, there is a better way to rent a flatbed trailer to enjoy its convenience without drawbacks.
As America’s premier P2P trailer rental marketplace, Neighbors Trailer is changing the trailer rental industry. Through the platform, you can connect with private trailer owners and rent directly from them. Since it offers fixed daily, weekly, and monthly charges, Neighbors Trailer is more cost-effective than traditional trailer rental businesses. Since you only pay for one until you need it and can get another based on your needs, it is incredibly convenient.
With hundreds of flatbed trailer rentals available for instant online booking, Neighbors Trailer is the best way to get a flatbed trailer for your work. The Neighbors Trailer app for Renters gives you all the powerful features of this platform in the palm of your hand. The app is completely free and available for all iOS and Android devices. If interested, download the app and find a flatbed trailer rental for a great price today.