Finding and Financing a Reefer Trailer
The United States is home to many factories and farms that produce today’s manufactured good and food, and all those items are delivered thanks to a robust carrier industry. Many carrier companies are in operation today, most of them on the smaller side. While larger companies may have jets or ships for shipper clients to use, the smaller companies typically offer a fleet of hardworking semi trucks for the job. These trucks can tow generic and specialized trailers alike, such as wholesale reefer units. But what is a reefer trailer, and why might a carrier company owner want to buy a reefer trailer? A new reefer trailer or Thermo King refrigeration units for sale may make a carrier’s fleet much more flexible, and that is to be desired. Finding Thermo King refrigeration units for sale or similar brand reefers can greatly expand a carrier company’s operations. But how to finance these trailers and trucks?
About Reefers
It can be easily said that reefer trailers are a major part of today’s shipping industry. Around 500,000 reefer trailers are in operation across the United States alone, and the worldwide market for refrigerated trailers is still growing. The experts say that the worldwide refrigerated trailer market may reach a market value of $7.65 billion by the year 2022, and it may grow at a CAGR of 4.8% from 2016 to 2022. More and more of these trailers are ordered in the United States and abroad with each passing year.
A reefer trailer is a semi truck trailer equipped with air conditioning units that will chill the interior, and these trailers can generate a temperature anywhere from 70 degrees to -20 degrees Fahrenheit, based on the cargo’s needs. Not only that, but the trailers will also come equipped with insulated walls to help maintain the cold inside. These trailers range in size from 28 to 53 feet in length, and they may be as tall as 13.5 feet in some cases and weigh up to 44,000 pounds.
These reefer trailers are often used to make deliveries for grocery stores, restaurants, and other shipper clients that make use of cold food. In fact, reefers often visit warehouses that are equipped with freezers on site to keep the food chilled, and once the cold items arrive at the grocery store’s dock, employees there will unload he goods and put them into on-site freezers. Meat, dairy products, frozen processed foods, and the like will be transported this way, while dry goods and canned foods will arrive in generic trailers. Meat and cold items may spoil in a regular trailer, but not in a reefer.
Buying a Trailer
Suppose a carrier company’s owner wants to find some wholesale reefer trailers to purchase, such as Thermo King refrigeration units for sale or similar brands. The company owner may conduct an online search if needed, such as thermo king refrigeration units for sale near me” and specify their city name or ZIP code to find local sellers. New units will be the most expensive, but they may also will be in perfect condition, come with warranties, and have the most modern technology in them. Gently used units may be nearly as good in some cases and may be bought at a discount, though the buyer is urged to look them over in person before making a purchase. The buyer may check for wear and tear in the air conditioners, insulation, trailer hitch, wheels and axles, or anything else.
All this may require a loan to afford. Rather than consult big banks, a trailer buyer can turn to specialized truck lending companies and apply for a loan. These lenders are more generous than big banks, though they may still factor in the buyer’s personal and business credit scores. These lenders may also check for red flags such as a previous bankruptcy or a history of delinquent payments. If a lender’s credit score is very good, they might get as much as 100% of the trailer’s value in a loan, and at a low interest rate. Borrowers with lower credit scores may still get approved for a loan, though with less favorable terms. And either way, the purchased truck and trailer may act a collateral for that loan, making it a secure loan for the lender.
