Cost comparison: leasing vs. buying tank trailers
Cost comparison: leasing vs. buying tank trailers
Posted on March 26, 2023
When it comes to the cost of tank trailers, there are three types of costs: physical fuel and maintenance costs. If you're comparing tank trailer leasing vs buying and would like to know which option is better, read on for more information.
How Often Do You Move Freight?
When comparing tank trailer buying and leasing, you should know that you're paying for the cost of the trailer and its maintenance. If you buy a tank trailer, you'll pay for all of the costs associated with owning it - including fuel to run it and insurance to protect against any damage that might occur.
While leasing isn't always better than buying, the amount of money you pay is dictated by how often you move freight. If you're only carrying your cargo once every few weeks, leasing may be better. However, if you move loads frequently (every day), buying may be more cost-effective since it’s worth paying for insurance and maintenance costs.
The best way to determine which option suits your company depends on how often your goods are moved and what kind of freight it carries.
Modern Technology
The use of modern technology has enabled us to view the world in a new way. For instance, we can track our assets with GPS or even see the temperature from a satellite. This kind of information helps us make better decisions and increase efficiency in our businesses. When it comes to leasing or purchasing tank trailers, look for trailers with the latest technology.
Trailer tracking: Trailer tracking, or GPS, is an option that can help you keep an eye on your trailer's location and transmit it back. This also helps reduce trailer downtime.
Temperature tracking: This is another excellent feature for trailers - especially those that are used for perishable goods.
Trailer wheel sensors: These monitor the weight of freight and tire pressure for better safety. It uses this information to integrate with the braking system and avoid serious accidents!
Where Does Your Fleet Travel?
When it comes to choosing between renting and buying a tank trailer, you should also consider where your fleet travels. Are you planning on hauling freight across state lines? Are you travelling through extremely harsh weather conditions? Do you need to be able to reach remote locations that aren't served by railroads?
You should also look at the local and federal regulations when considering a trailer. If you need to haul goods regularly into a state with strict laws, you may have to look for tank trailers for sale in Alberta. If it is a one-time gig, you may consider renting one.
Are you ready to move?
The bottom line is that many business people have a difficult time deciding whether leasing or buying will be the right choice. Generally speaking, it depends on several factors. If you understand the various components of each decision, you'll be able to compare them in your cost evaluation and ultimately make a wise business choice.
We hope this article helped you look at the various aspects of purchasing and maintenance of tank trailers.