Purchasing a new semi-trailer is a huge investment. You’re responsible for all of the costs that come with ownership. If the trailer is part of a planned fleet expansion, you’ve probably included the associated costs in your budget—but what if you only need the trailer now and then?
In other words, you’re not growing your existing fleet or even starting one. This scenario is when it often makes sense to look into semi-trailers for rent. Along with saving on purchasing costs, renting a trailer can have other benefits and some of the advantages may be surprising.
Advantages of Renting a Semi-Trailer
While we’re not saying there aren’t advantages to buying a trailer. For some companies, purchasing makes more sense than renting.
However, if you don’t want to own a trailer outright, there are benefits to renting. What are some of these benefits, besides no purchasing costs?
Easy Access to the Latest Technology
Car buffs look forward to the release of new models each year, anxiously waiting to see what innovative technology is included in the vehicles. In a sense, the same applies to trailers. Technology isn’t only advancing in passenger cars, SUVs, and pickup trucks, semi-trailers are also benefiting from the improvements.
Newer trailers may offer enhanced performance capabilities over older models. Some advancements include sophisticated GPS tracking, compatibility with freight-matching apps, and even smart tech that lets a driver know if an issue with the trailer is detected.
Since you’re renting the trailer, you can easily swap it out for the latest innovations every time your lease is up. Some companies even let you exchange a rented trailer for a new one before your lease expires.
Never Worry About Compliance
Owning semi-trucks and trailers means meeting all industry compliance requirements. Not only are you dealing with regulations set down by the Federal Motor Carrier Safety Administration but also state and even municipality requirements.
Trying to keep up with all compliance requirements can be time-consuming and expensive. Don’t forget, regulations also change and this means more work and higher costs. You can consider ignoring compliance standards, but it’s never a good idea.
Along with potentially hefty fines, you can also risk having the trailer impounded. You may even lose your license to transport goods in an area or across state lines. If this happens, it can be disastrous to your company’s bottom line.
Leasing a trailer is an easy way to get out of worrying about meeting compliance regulations. The trailer’s owner is responsible for ensuring everything meets industry standards. This way, there’s one less thing for you to worry about and you can still transport your products to the necessary destinations.
You’re Not Tying Up Your Available Cash Flow
As we mentioned earlier, buying a semi-trailer isn’t cheap. Even an older trailer is still going to come at a significant cost.
Larger corporations may not be concerned about tying up a portion of their cash flow, but it’s usually different with smaller businesses. They simply don’t have the resources to support financing a new or gently used trailer.
Renting a trailer takes care of this issue since you’re not trying to meet monthly payments. Leasing is more cost-effective than buying and doesn’t require you to tie up any available cash your business has on hand. Best of all, you also don’t need to worry about depreciation.
Since you don’t own the trailer, it doesn’t matter when its value depreciates—but, this doesn’t mean you should ignore basic trailer care. You may not care about its overall value but the rental company does.
Reduced Maintenance Costs
Even though a semi-trailer doesn’t come with an engine, it doesn’t mean maintenance is cheap and easy. You need to keep up with tire maintenance; don’t forget the axles and brakes—this is only the start of the maintenance requirements for trailers.
If your company already has a fleet, you may have a maintenance team on site. However, this doesn’t mean they have the time to add another trailer to their to-do list. If you need to bring in additional staff, it means an increase in payroll costs, and this is before you add the expense associated with onboarding new talent.
A benefit of renting a trailer is you’re not responsible for any maintenance. Yes, you may need to cough up the money to replace an occasional blown or worn-out tire. However, most routine maintenance is the responsibility of the leasing company, and this also includes covering most repairs.
Flexible Use
If you only need a semi-trailer for a short time, renting usually makes more sense than buying. Most rental agencies offer flexible leases. You can rent a trailer for a one-time trip or go with an extended lease.
Here, you have the flexibility to choose what type of lease best fits your business’s current needs. If things change in the future, you can adjust your rental agreement accordingly.
Always Have Access to a Trailer
Does your business have a client who seems to love placing last-minute orders? Your transportation schedule is planned weeks in advance, and your existing fleet is booked.
Instead of trying to fit the last-minute order into your schedule and potentially upsetting another client, you can avoid these issues with a rental trailer.
Renting a Semi-Trailer Makes Good Business Sense
Sometimes, it just makes more sense to rent a trailer instead of buying one outright. Whether you need a trailer for a one-time run or to expand your fleet without tying up cash flow, renting a semi-trailer is a practical solution.
Going with this approach helps ensure your products are delivered on time without incurring additional expenses for your business. Plus, renting allows you to access the latest trailer models and technology, enhancing efficiency and reliability.
