The Top Reasons It’s Better to Rent Heavy Equipment Instead of Buying
Purchasing new heavy equipment can get costly. Between a bulldozer, excavators, a skid steer, and all your other essential heavy equipment, the costs add up quickly.
When working in construction, it’s often debated if the equipment should be rented or bought. In many cases, it’s beneficial to rent heavy equipment for financial reasons.
A great first step to take would be to determine what your budget is. Then, you’ll want to compare renting vs buying in the heavy equipment marketplace.
In the guide below, there are several reasons why renting this type of equipment is more beneficial than buying. Continue reading to gather all the information you need before making a final decision.
No Long-Term Expenses
Renting heavy equipment over buying it can save you from long-term expenses. After making a purchase, the responsibility of maintaining the equipment is in your hands. You’ll need to put in time and money to ensure all machinery is in excellent working condition.
Even with high-quality equipment, you still need to plan for future repairs and general upkeep. Renting will prevent you from having to cover these costs.
No Up-Front Costs
The price of heavy equipment when paying for it up-front can be a big hit for any company no matter the size. Having to put down a large amount of money at one time for one piece of equipment might not be ideal.
If you choose to rent, you won’t have to worry about paying a large cost upfront. You can then continue to save money and put it towards other important aspects of the company instead of putting it all in one place.
No Storage Expenses
Have you considered the cost of storing your heavy equipment?
After you purchase the equipment, you’ll then need to determine where you’re going to store this equipment. You’ll also need to consider the costs of doing so.
Transportation is another expense to keep in mind when you own the equipment. You can’t simply haul the equipment on the back of a pickup truck as you would with smaller pieces. Instead, you’ll need to hire a service to transport and store the equipment for you.
Use the Latest Equipment
When you rent vs buy, you have more flexibility to try new pieces of equipment. When you buy, you’re committing to that one piece. When you rent, you can return what you have and rent out something else.
This helps you stay on top of the latest equipment pieces. You can also consider listing your own equipment that you no longer need if you purchased in the past. Locals can then request to rent out your equipment, and you can make some extra money.
Are You Ready to Rent Heavy Equipment vs Buying?
Have you made the decision to rent heavy equipment instead of buying? Renting expensive equipment can save you from spending a large amount of money all at once. It also saves you from costly repairs and maintenance in the future.
If you’ve decided to rent, then you’ve made a great choice!
At Eqpme, we provide fair and flexible pricing with local availability and no commitment. For information about renting heavy equipment and how the process works, you can click here to learn more.