In the U.S., there are around 1.2 million trucking companies currently in operation. The competitive environment and challenging economy can create obstacles for new trucking company owners just starting out. When looking for trailers for sale, many owners are opting to lease in order to improve their bottom line. What should you look for when leasing semi trailers for your business? Here are factors to consider regarding trailer leasing solutions:

Do Your Research

There are numerous leasing companies available for you to choose from. You will need to do thorough research in order to select the best one for your financial situation. Look for a company that has a long history of experience working with the trucking industry. Do they offer flexibility and customization with the plans they offer? Check online reviews and the Better Business Bureau for any complaints.

There are also different types of leases available for you to consider. With a net lease or full-service lease, you’ll be responsible for equipment maintenance costs. A maintenance lease allows you to take your equipment to the leasing company for repairs. Make sure you understand what leases are being offered by the companies you are researching before you sign any agreements.

Crunch Your Numbers

Leasing a 53 foot trailer can save you quite a bit of money upfront because you won’t have to put up large amounts of cash upfront. However, you will want to take a closer look at all the costs involved in order to determine if trailer leasing is optimal for your financial budget. You’ll need to crunch some numbers to make sure you can afford a lease for the long term.

To lease a used trailer for sale, it can cost you approximately $800 a month. For a new truck, that cost can hike up to $2,500 monthly. You may also need about $1,000 for a down payment and around that same amount on insurance costs each month. Make sure you ask the leasing company you’re considering who is responsible for covering maintenance and repair costs and what warranties are available. You may also want to inquire about mileage limits and fuel price protection as well.

Trailer leasing can be a viable option for new truck owners who don’t have much capital to work with. You can upgrade your fleet at a much lower cost which can greatly improve your bottom line over time. Take your time to consider all your leasing options carefully before signing any agreements. Choose the best route that makes the most sense for your financial situation.