Buying heavy equipment for your business can be quite an investment; renting could be a more reasonable option. Deciding to rent or buy can be tricky depending on multiple factors, so it’s important to consider your needs.
Reasons to Rent Instead of Buy
Lower Expenses
Renting equipment doesn’t require as much of an initial investment as buying one does. Buying requires you to hand over hundreds of thousands of dollars to put down for one piece of equipment upfront, which may not be feasible for some companies. Renting allows you to put lesser amounts of money as needed and won’t require a significant initial investment, leaving you with money to spend on other resources for your company and won’t cause you to be cash poor.
Predictable Costs
If you run into any equipment issues that require maintenance, the company you rent from will likely be responsible for handling these problems. Buying a piece of equipment will require you to save money monthly in case your machine needs repairs or maintenance, which can suck away money from other resources within your business. Renting ensures that you’re only paying regular rental fees and won’t be guessing about what your company will spend each month. This will take some weight off your shoulders and leave you money for other expenses.
No Storage or Maintenance Requirements
When you rent from a company, they will cover the storage and maintenance costs so that these extra costs won’t rack up your monthly bill. Buying a piece of equipment also requires putting money into finding a place to store it, but renting relieves you of that responsibility.
Variety of Equipment Options
Renting from a rental company will help ensure that you’re getting well-maintained and up-to-date equipment that you can rely on. Rental companies will give you access to the newest technology, which may allow you to perform better quality and more efficient work. These companies will likely have a large machinery stock, so you can cater the piece of machinery you rent to your specific needs.
Rent from Five Star
After deciding to rent, you’ll want to make sure you’re considering your desired price and the specific responsibilities you need your equipment to fulfill. Working with Five Star Rentals gives you access to necessary equipment and ensures you work with a knowledgeable team.
Visit our website or call 830-896-0282 for more information about equipment rentals and how we can meet your needs.
Sources
Benefits Of Renting Construction Equipment | NMC CAT
5 Benefits of Renting Heavy Equipment (worldwidemachinery.com)
Top 7 Advantages of Renting Construction Equipment VS Owning It (linkedin.com)