After years of wanting to buy a semi trailer, the company I’m leased on to offered me to buy one by doing a lease-purchase on the trailer that I was renting from them. The offer was to good to pass up. The trailer is a 2018 Great Dane

Key Points:

– Credit and Debt Improvement: Worked throughout 2024 to reduce personal debt and improve my credit score from low 600s to 750+, essential for securing low-interest loans for commercial equipment.

– High Trailer Prices and Market Decline: Trailer prices in 2023 were inflated ($30,000+ for newer models). Prices began dropping in 2024, making it a better time to buy before potential price increases with economic recovery.

– Costly Trailer Rental: Renting cost $300 per week ($15,000 annually), with maintenance responsibilities still falling on me. Highlighted renting as a financial drain without ownership benefits.

– Negotiation and Purchase Decision: After rejecting offers of $37,000 and $27,000, bought the trailer for $22,000, slightly above market price but with no money down and no bank involvement. Agreed to $400 weekly payments over 55 weeks.

– Inspection and Maintenance Tips: Inspected brakes, tires, and structural integrity before buying. Advised buyers to thoroughly check trailers and understand maintenance responsibilities to avoid unexpected costs.