Whether you require a trailer for business purposes or personal, it is a great asset to own. However, when it is the actual time to buy a trailer, you are confused whether to buy a used trailer or a new one. With the available options of trailers for sale, you can choose to buy a new or used one. You might also be confused whether to buy a trailer or rent one for your requirements.
There are several benefits of buying a new trailer. Some of these benefits are as follows:
- Capital Investment
The trailer that you buy is your tangible asset. You can add it to your portfolio as a business investment if you have bought it for business purposes. The trailer goes as a personal asset if you have bought it for personal use.
- All time availability
When you have purchased a trailer, it is yours to call. You can use it as and when required. There is no need to look for companies offering trailers on rent; making calls to them and dealing with them. You also save time on going down to the rental companies to pick the trailer. Moreover, you can leave it loaded if it is to be used quite frequently.
- Tax benefits
When you purchase a trailer, it is your business asset. Whereas when you rent a trailer, it is considered a one-time asset. You can get tax deductions on your asset which is not the case on a rented trailer. The depreciation that you deduct from the value of the trailer adds to the return on the investment. This way, you can consider taxability a benefit rather than a drawback.
- No hidden costs
The rented trailer has several terms and conditions that you need to follow. In case of any issues, you will find yourself being subjected to hidden costs like late fees, charges for the damage or wear and tear to the vehicle, additional insurance and other costs. When you own a trailer there are no hidden costs.
Choose from trailers for sale that come with no hidden conditions. Ask the dealer about any pick and drop charges or any other expenses that need to be paid while purchasing the trailer.
- Flexibility to Use
When you own a trailer, you have the ability to use it as you want to. You can use it personally, for business purposes and even sub-let it. However, with the rented trailer, you have to follow the rental contract that has been signed between you and the rental company. Any wavering from the agreement can cost you additional expenses.
When you own a trailer, you can even convert it in any way that is suitable to your requirement. This cannot be done with a rented trailer.
The overall use of the trailer is the actual benchmark of whether you should buy a trailer or rent it. In case of frequent use, buying a new one is definitely the most recommended option.