I’ve decided its best that I not own my own trailer.
I came to this determination for a series of different reasons but they all compounded to make it very evident that it was best that I not own a trailer.
- Based on the vehicles I tend to buy I would need a tandem axle trailer capable of handling a 6,000 lb. load. At the time I did some searching, used trailers like this were listed for around $1,500-2,000. That seemed like a lot of money to tie up in something I would likely only use 3-4 times a year.
- If I owned a trailer I’d also still have to maintain it. They’re pretty simple but they primary items are tires, hubs, bulbs and wiring that would need to be checked on/serviced.
- In Illinois we are required to title all trailers and to annually register all trailers for use on public roads. The title fee on any vehicle in Illinois is $95. Registration stickers on a trailer are about $58 per year.
- I’ve read that liability is usually covered for the trailer but comprehensive for the trailer and item being hauled is not. Didn’t dig very deep but presume there is an additional cost here.
- In the town I live in I’m not allowed to park a vehicle or trailer on a grass surface. Because of this I would be required to keep said trailer in my driveway. This would take up a spot I could use for another vehicle.
Going through and tallying the costs conservatively here we get:
$1,500 for the trailer + $95 title + $58 registration = $1,653
What I do is that I rent trailers from U-Haul. I’ve looked at other providers like Penske but U-Haul has a huge network established and you can find a facility and trailer pretty much anywhere at any time. A car hauler trailer can be rented for $55 for an in-town haul if the trailer is being dropped off at the same location as pickup. For another $11 you can buy insurance that covers the value of the both the trailer and up to $10k in coverage for the item you’re hauling. If I need to pick up a trailer in Des Moines, IA and drop it off back home you usually get the rental for 3 days and it costs $120 for the trailer and another $30 for the same $10k insurance. When I figured this out it made the decision really simple for me. I’d have to do 11 out of state trailer rentals before owning my own trailer would even start to make any sense. And that isn’t factoring in multiple years of registration costs, any maintenance or insurance. The other smaller aspect of owning a trailer and then always towing it to and from the pickup location is that I’d burn more gas, maybe only $10-20 more per trip but it adds up. There have also been a few vehicles that I didn’t need to trailer because they were local and drivable, and other vehicles that were too large for the U-Haul trailer and I needed to use a tow truck.
Based on this I’ve made it part of my standard procedure to simply factor the cost of the U-haul trailers into the cost of each vehicle I acquire. It’s a small incremental cost but the simplicity and ease of use is what really makes it worth it for me. The U-Haul trailers are well built, easy to use and tow really well. I think I’ve used them at least 15-20 times and I haven’t had an issue yet. It would also drive me nuts to have my own trailer sitting in my driveway, always in the way, and hardly being used. I don’t think it would be much of a thrill for my wife either.
Based on the conditions I operate under I’ve decided to rent trailers as I need them. Maybe for you it’s different, and that’s fine. In either case, the decisions should be made eyes wide open and understanding the pros and cons.