- February 1, 2023
- Posted by: Sergey Grushetskiy
- Category: Equipment Financing
It’s not uncommon to occasionally need to add a flatbed trailer to your fleet, whether you run several trucks or even just one.
By adding a flatbed trailer, you open up new opportunities to bid on and secure new loads that might not have been possible before. You may also just need a flatbed trailer for your own company to transport equipment between locations.
Whatever your reasons are, leasing or renting can be great options. But there are some differences as well as key things to be aware of when leasing a flatbed trailer.
In this article, we’ll look at how easy it is to secure flatbed trailer financing and what you should look out for when doing so.
Leasing A Flatbed Trailer
A common option when there is a need for a flatbed trailer is to lease one. Leasing a flatbed trailer is much less costly than renting one, especially if it will be for a month or more.
Leasing a flatbed trailer also gets you access to a new trailer and one that is still under the manufacturer’s warranty. This means less chance of having extended downtime to deal with repairs.
However, even when leasing, regular maintenance is generally still the responsibility of the leaseholder. Although, there are some lease agreements or promotions which can allow for certain maintenance to be covered.
At the end of the lease, you can purchase the trailer you’ve been using knowing the exact condition it’s in and how it’s been maintained since you were the only owner. This can take out the guesswork that may come when buying a used flatbed trailer.
Leases do come with a commitment though, and that is usually a term of 3 to 5 years for most trailers. Some longer-term leases are available in certain cases.
Finally, since a lease is a type of financing, you will need to have adequate credit in order to secure one.
Renting A Flatbed Trailer
Another option is renting a flatbed trailer when needed. This can work well for very short-term requirements. But the cost will be much higher on a monthly basis compared to a lease. So if you plan on renting for longer periods, a lease can save you quite a bit of money.
Renting does have an advantage when it comes to maintenance as the rental company is responsible for all maintenance. If the trailer breaks down or has an issue, you will usually just be given a new trailer as the old one is repaired.
More Information On Flatbed Trailer Leasing
If you are in the market to lease a flatbed trailer, there can be a lot to take in to ensure you get the best deal possible.
At 10-4 Financing, we help people everyday secure the financing they need for trucks and trailers. We work with a number of underwriters to make sure we can help virtually everyone regardless of past credit problems.Contact 10-4 Financing today to secure the best lease deals possible on your next flatbed trailer.