Are you in the market for a utility vehicle? Whether you’re looking to buy or rent, there are plenty of options available. Utility vehicles can be used to transport people and goods safely, reliably, and efficiently. They come in many models and sizes with various features depending on your needs.
In this guide, we’ll explain what utility vehicles are and provide an overview of the different types available on the market today. We’ll also discuss average price ranges for each type and whether it’s better to buy or rent one in certain situations. Finally, we’ll discuss the different financing options available to help you make the most informed decision.
What Does a Utility Vehicle Do?
A utility vehicle is a type of commercial vehicle, often referred to as a utility truck or work truck, that can be used for transporting goods and people. These vehicles are designed for carrying heavy loads, towing trailers, and hauling cargo. They come in various shapes and sizes with different features depending on the purpose they’re intended for.
Types of Utility Vehicles
The utility vehicle market is expansive, with many types available for purchase. Here are a few of the most popular utility vehicles and their uses:
These are one of the most common utility vehicles used in the United States, pickup trucks come in two-wheel or four-wheel drive and are designed to transport goods, equipment, and people.
These utility vehicles have a large cargo box mounted on the frame and can be used for the transportation of goods or materials over short distances. Box trucks are typically used for moving furniture or other items too large for a car.
Flatbed utility vehicles are ideal for hauling heavy loads such as lumber, machinery, and construction materials. These utility vehicles come with reinforced steel frames and rubber mattresses that absorb shock and dampen noise.
These utility vehicles have large, open beds that can be raised at the back for easy unloading of bulky material or cargo. Dump trucks are used for landscaping, construction, and mining.
These utility vehicles are designed to transport food, beverages, and perishables. Refrigerated utility vehicles come equipped with air-conditioning and insulation to keep perishable goods fresh during transportation.
Average Price Ranges for Utility Vehicles
The cost of utility vehicles will vary depending on their type and size, but here are some general price ranges for each type:
- Pickup trucks: $20,000 – $60,000
- Box trucks: $25,000 – $75,000
- Flatbed trucks: $35,000 – $100,000
- Dump trucks: $50,000 – $175,000
- Refrigerated trucks: $45,000 – $125,00
Factors that may affect the cost of buying a utility vehicle include the make and model, age of the vehicle, mileage, cargo capacity, and utility features.
Buy or Rent?
When it comes to utility vehicles, many business owners face the decision of whether to buy or rent. The right choice will depend on your needs and budget.
For example, if you’re only in need of a utility vehicle for short-term use, renting may be the better option as it’s often cheaper than buying. Renting a utility vehicle also helps you to avoid long-term maintenance costs and the hassle of selling it when you’re done.
On the other hand, buying a utility vehicle may be more beneficial if you plan on using it for a long period of time. This is especially true if you can finance the purchase, as you could potentially save money in the long run. In addition, owning a utility vehicle gives you more freedom and flexibility to use it whenever and however you want.
Financing Options for Utility Vehicles
If you’re looking to buy a utility vehicle, you may want to consider financing it. With the right financing option in place, you can spread out your payments over time instead of having to pay for it in full upfront. There are many different types of utility vehicle financing available, such as leases and loans.
At Charter Capital, we specialize in helping business owners and entrepreneurs finance utility vehicles. Our experienced brokers can help you navigate the financing process and find the best equipment financing option for your needs. We offer access to loans and leases in amounts ranging from $10,000 to $1,000,000.
For four decades, our family business has been the trusted guide through the complex process of obtaining financing for capital equipment. As an experienced consultant and bridge to success, we have leveraged our collective knowledge and expertise to assist businesses of any size with all of their leasing needs. Let us be your navigator toward a secure financial future today.
We hope this guide was helpful in providing an overview of utility vehicles and the different types available on the market today. Whether you’re looking to buy or rent, Charter Capital is here to help. Contact us today and let one of our experienced financial brokers assist you on your utility vehicle financing journey.