One of the biggest questions when it comes to agricultural matters is how much it is worth buying outright some of the most important equipment for taking care of your land, as opposed to hiring it as and when you require it.
Much like our range of Ifor Williams trailers, we offer a range of options when it comes to flexible financing, part-exchange and short-term hire, which can suit every budget and every set of needs.
If you want to learn more and get some dedicated advice tailored to the needs of your business, get in touch with us today, and we can discuss your options and ensure that any choice you make meets UK regulations and standards.
However, to help your decision either way, here are some of the most common questions and arguments when it comes to hiring or buying a trailer, and how your answers might tilt your decision in the direction of ownership or renting.
How Often Will You Use It?
The biggest and most fundamental question when it comes to hiring or renting is how often you are likely to use it as part of your business. The more regularly you expect to use it, the more likely you will be better off buying it outright.
Generally, if you can think of a use for your trailer every month of the year, it is almost always worth buying outright rather than renting, but if the trailer is needed for a rare or seasonally specific role or single project, there is value in maintaining a flexible approach.
The right trailer can last for many years as long as it is well-maintained, and there is always the option for part-exchange in the future, although this will depend on how much wear and tear it is expected to accrue as part of its role.
What Is The Total Cost Of Ownership?
A related point to the question of use is how much the trailer would cost in total to buy and maintain, compared to renting a trailer for each individual need.
Whilst the upfront cost of the trailer matters, particularly for cash flow purposes, the total cost, including any maintenance and overheads, is also critical, as these additional costs that may not be part of the comparative calculations could make renting more affordable than buying.
Similarly, it is important to look at the rental terms and any extra costs, whether they are inherent to your trailer hire or could be accrued if there are mechanical issues or unexpected damage caused during a particular job.
There is also the income a purchased trailer would generate, either during the process of doing business, when sold or part-exchanged, all of which could factor into a financial decision to buy.
Can You Use A Stock Trailer?
Rented trailers will typically be available from a range of stock units, but if you need additional adjustments to meet the needs of your business, farm or regular job, then hiring the perfect solution may not be available to you.
Some trailers require dedicated shelving for particular goods, as well as toolboxes or additional functionality as required.
For example, if you are considering an Ifor Williams Transporta but wish to add a more bespoke set of tools and equipment to turn it into a mobile garage for track days, purchasing a trailer might be the better option.
Our trailers often have a range of optional extras, but whether they would be available on a trailer hire would depend on availability.
If you can use a stock trailer for your particular short-term project, such as an office or house move, goods transportation or a specific seasonal job such as log splitting, hiring a stock trailer could be profoundly more affordable.
Is Your Trailer For A Horse?
Many agricultural businesses will involve the welfare, treatment and transportation of horses, which typically would require a stable owner to have a horse box.
A lot of equestrian businesses and horse owners have specific needs when it comes to partitions, size, amenities, tack storage and protective equipment for the horse or horses.
Because of this, it can sometimes be better to contact a trailer expert and get a trailer that is designed around the welfare and safety needs of the horse or horses that are likely to stay in them, as well as the people staying in the front in the case of an Eventa.
Horse transportation needs are also typically more frequent, meaning that in the vast majority of cases, owning a horse box will be more cost-effective than renting.