Many businesses need to use semi-trailers as part of their operations. However, purchasing trailers isn’t the best option for every business. Consider these three semi-trailer options when choosing the best solution for your business needs.
1. Renting
Semi-trailer storage rentals Auburn WA involves signing a short-term contract with a rental company. Renting is often a good option for immediate, short-term needs, such as supplementing your own equipment to accommodate seasonal demand. This option is ideal when you need equipment quickly and for a short period of time, have seasonal fluctuations in workload, are in-between leases or purchases, are starting a new business or project or want to reduce upfront costs. The downside is that the rates you will pay may be higher than if you signed a longer-term lease and because you will need to return the equipment, there may be more disruption in operations.
2. Leasing
Leasing is similar to renting but is usually for a longer period of time. Most leases are renewable and some also give you the option of purchasing the equipment at the end of the lease. The benefits of leasing are lower upfront costs compared to buying, better rates than renting, more customization options than renting, no risk of manufacturer delays, cash flow benefits and less disruption of operations compared to renting. The main downside is that the leasing company retains ownership of the trailer, so the money you spend doesn’t add value to your company. Additionally, there is the added hassle of needing to renew the leases to ensure you continually have enough trailer capacity.
3. Purchasing
If you have a full-time, predictable need for semi-trailers, then purchasing your own fleet may make sense. When you own trailers, you can do what you want with them and you don’t have to worry about returning them or renewing leases. Additionally, the money you invest in purchased trailers adds value to your company and when it comes time to upgrade, you can sell your used trailers to finance part of the cost. The downside is the significant financial investment. Additionally, you will be responsible for ongoing maintenance and if you have a change in demand, you may be stuck with idle trailers.
The best semi-trailer option for your business depends on your financial resources and your business needs. Fortunately, you don’t have to settle on just one option. You can combine leasing, renting and owning in whatever combination makes the most sense for you.
