Do Dump Trailers Hold Their Value?
Dump trailers are continuing to grow in popularity for all sorts of businesses around Michigan. As you look at your options, you’re evaluating whether dump trailers hold their value. Consider what this actually means for your business, and how you can extend the life of your trailer.
Understanding Dump Trailer Value
Evaluating a dump trailer’s value often focuses on the resale value when you’re ready to part with it. While this is certainly part of the equation, it’s only a small part of your dump trailer’s value.
Before considering what you may be able to resell it for, start with its value right now. Are you renting a trailer right now? If so, how much are you paying that you’ll no longer continue paying? Dump trailers typically cost $60-$150 per day to rent. This translates into $1,200-$3,000 per month.
A dump trailer may cost between $3,000-$15,000 or more to purchase. This means that if your trailer lasts at least five years, it’s covered its own costs.
If you don’t currently have a dump trailer, consider the services you could offer with one. How much does this expand your business? It’s likely the increased revenue from having a dump trailer would recoup the cost of the trailer in under a year.
Once you’ve profited from using your trailer, you may start to consider selling it. The value for resale will depend on how well it’s maintained, not to mention the specific equipment you have on the trailer. While depreciation greatly depends on condition, a well-maintained dump trailer many retain 50%-60% of its original value after five years.
Options To Help Extend Your Dump Trailer’s Lifespan
When you’re looking to make the best investment in your dump trailer, there are some options that’ll help you maintain its value. Start by looking at the frame construction. The strongest and most durable is the tubular frame, but this is also the most expensive. The second-best option is the I-beam, but it doesn’t come close to the tubular’s strength.
Next, consider how you’re going to maintain the body of your dump trailer. Paint is the most vulnerable to wear. There are some quality spray-on liners that have shown great promise. If you want the best protection, consider galvanizing your trailer, which is a full submersion chemical bath. This isn’t cheap, but it protects both the frame and the bed.
When choosing your lifting mechanism, make sure you match your lift with your load needs. The most popular mechanism currently used is the scissor lift. Opt for a gravity-down lift over a power-down to help preserve your battery’s life. Many buyers value this upgrade because it'll reduce their overhead using the trailer.
Consider your wall height when purchasing your trailer. Of course, this affects how you can use the trailer. However, if you have side walls taller than the standard 24 inches, you’ll increase your trailer’s resale value being they’re uncommon.
Your dumping mechanism must have power, which usually comes from an on-board battery. Consider upgrading to a solar panel on the battery box to help raise the value of your trailer. Potential buyers will love that it puts less wear on the tow vehicle’s battery.
Proper Maintenance May Make All the Difference
Properly maintaining your dump trailer is one of the best ways of keeping its value over time. Start by doing a proper pre-trip inspection every day before you load it. This includes checking the tire pressure and checking for any obvious signs of structural damage.
Make sure to keep the wheel bearings properly greased to prevent unusual wear. Also keep an eye on the body of your trailer. You want to find any deficiencies in the body, bed, or frame coating early. This allows you to apply touch-up coating before corrosion sets in.
While you’re loading your trailer, be sure to stay within the rig’s weight limit. Overloading your dump trailer not only wears your tires and axles more quickly, but also risks the integrity of the frame itself.
While shopping for dump trailers around Michigan, visit one of the seven locations throughout the state. We have a vast selection of just about every type of trailer from the best manufacturers. You’ll know that when you pull away with a trailer from USA trailer, you’ve made an investment that will last.