We understand that leasing and renting a trailer can be confusing. To make the process easier to understand, we've gathered all the frequently asked questions in a convenient spot.
What Size Company Do You Have to Be to Lease a Trailer?
Nationwide Haul works with companies of all sizes. Whether you have a small, medium, or larger fleet or are an owner-operator, we are happy to work with you.
In other words, Nationwide Haul won't turn you away because of your company's size. That is somewhat rare, as some companies focus on either very large or very small fleets. But our network is versatile enough to fit any company's needs.
This also means you can continue renting or leasing from us as your company grows or even if you decide to downsize in the future.
Why Should I Lease?
Gain Financial Flexibility
Leasing gives trucking companies much more financial flexibility than buying outright. You are not locked into a long-term contract and don't have to continue making payments on the same equipment for years to come.
Leasing makes it easy to upgrade your equipment in the future. You can also easily add more or reduce equipment in your fleet. You can even change the type of trailers in your fleet without selling your old ones to buy new ones.
Have Potential Tax Benefits
Depending on your situation, there may even be some tax benefits associated with leasing. Your accountant can give you more details about these.
Manage Your Brand
Leasing your equipment will help you manage your brand, as well as the environment in which your products are delivered. With the ability to upgrade your trailers as needed, you manage how the market sees your business.
Improve Cash Flow
One of the biggest advantages of leasing is an improvement of your cash flow. Leasing has a much lower cost than financing equipment, both initially and monthly. This is especially important for smaller trucking businesses or owner-operators.
When Should I Rent a Semi-Trailer
Every business is different. Some companies choose to rent to offer various trucking services without being limited to a specific type of trailer. Most companies, however, opt for longer-term solutions like buying or leasing the majority of their fleet. They then supplement those with rentals when necessary.
The following are some of the most common situations when you may want to rent a semi-trailer from us:
Starting New Contracts Right Away
When you get a new trucking contract, you want to start it as soon as possible. Doing so helps you improve the client experience and enables you to earn income from the job sooner. But what if your equipment is on the other side of the country or too many miles away from the new client's location? Renting a trailer can be an excellent short-term solution. You can rent the trailer for however long it takes to get your current equipment where it needs to go.
Start-ups Waiting for Long-Term Solutions
New companies may face additional challenges securing financing for a fleet or being approved for a lease. While you work to get that approval, renting semi-trailers lets you get your company moving. Being able to do business does more than just bring in cash. It will also let you show potential lenders that your company brings in profits, increasing the chances of them approving your lease or loan.
Waiting for Fleet Upgrades
Even if you are an established company, you may not get a new trailer overnight. You'll have to find a semi-trailer to fit your needs (which we can help with) and get financing or a lease. Then, you'll have to get it to your location. Consider using a rental while you complete all of those steps.
Reach out to us to learn about renting a semi-trailer, or start the application today.
Seasonal Fluctuations in Demand
Depending on the customers you haul or truck for, they likely have varying seasonal demands. Renting additional trailers is the best way to meet those. By renting equipment, you can temporarily expand your fleet without having to worry about your equipment sitting unused in a lot for most of the year.
How Long Is the Rental Program?
In most cases, we rent out our units for a minimum of 12 months, but we can work with you if you need to return the unit before the end of six months. If, on the other hand, you prefer a longer-term contract, we can organize rental agreements that last 60 or 72 months.
Is There a Mileage Cap or Mileage Fee for Rentals?
No, due to our fixed rate rental and lease rates you get unlimited mileage with Nationwide Haul.
Is There an Hour Cap on Reefer Units?
We have a 2,004-hour cap on our reefer units for rent. Given that the national average use is just 1,700 hours a year, you are unlikely to exceed this limit. If you do go over it, there will be a small additional charge per hour.
What Are the Lease-To-Own Lease Terms?
Depending on the unit and your business profile, the lease terms will be 12 to 72 months.
How Much Money Do I Need to Lease-To-Own a Unit?
We usually ask you to make an initial upfront payment of 5-25% of the unit's value.
What Units Can I Lease to Own?
Our selection of equipment available for lease-to-own is identical to units for sale. We offer every type of trailer that we sell for rental or lease. You can choose from dump trailers, flatbeds, dry van trailers, reefer trailers, drop decks, heavy haul trailers, and more.
How Long Should I Wait for Approval for a Lease-To-Own Trailer?
After you submit all the documentation, we usually get you your unit within three business days.
How Do I Get Approved?
Getting approved is easy. Just send us the following:
Is the Unit DOT Compliant?
Yes. When you pick up the trailer, it will have a one-year DOT certificate.
Who Pays for Maintenance?
We provide a non-maintenance lease and rental program and do not charge a mileage/maintenance fee. As a net-net rental and lease option, you are responsible for maintaining and servicing the unit.
What Are the Conditions of the Brakes and Tires?
When you receive the unit, the tires and brakes will be in at least DOT condition, if not better. The brakes and tire tread life will be legal and roadworthy. When you return the unit, the tires and brake wear should be in the same general condition as when it left.
If you have further questions, just reach out to our Nationwide Haul team. We'll be happy to discuss these in detail.