Construction machinery is expensive. You have to invest millions of dollars or finance even more, in order to kit your company out with all the machinery it needs. Renting machinery instead of buying it comes with a lot of advantages, but what are they? Here are the five most important reasons to rent.
Renting Reduces Upfront Costs
Construction machinery can be very expensive to buy, with some large construction vehicles costing millions of dollars. Renting is much cheaper than buying, leasing, or financing. You get all the benefits that come with operating the machine without the upfront expense. This is a much more cost-effective way to get the equipment you need to get the job done.
Renting Limits Maintenance and Repair Costs
Owning and operating your own construction machinery comes with a lot of long-term costs. The biggest of these is maintenance and repairs. These can be incredibly expensive and time-consuming. By renting your machinery, you avoid these costs, helping you to achieve greater profits from your construction site.
You can rent a forklift in St. Louis and experience these savings for yourself.
There Is No Depreciation Cost
Every vehicle depreciates in value over time. Cars are well known for this, with auto experts often noting that you lose a couple of thousand dollars of value from a new car as soon as you drive it off the lot. Construction machinery is no different, but it is much more expensive to buy.
The more you use it, the less it is worth. Depreciating assets are a drain on your business’s balance sheet, added to all the other costs that come with owning construction machinery. This is one of the biggest reasons why renting makes much more long-term financial sense.
Its Makes You More Financially Flexible
The market changes constantly.
Forces beyond your control influence construction and investment in new buildings. Renting construction equipment means that if the market contracts and work slows, you can quickly end your rental agreement and remove the cost of your outgoings.
When buying or financing a construction vehicle, your business has to continue to pay for that bill even if construction work has ground to a halt. With renting, when the market picks up again you can get the machinery back on-site for the same cost.
You Operate the Latest Equipment
Construction machinery rental firms keep their equipment up-to-date and well-maintained. When you rent construction machinery you are getting your hands on the latest, high-tech equipment which often adds extra value to your site.
When you buy construction machinery it quickly becomes outdated, but you have to keep operating it for many years. When you rent, you can get the latest machinery
from the biggest manufacturers for less than the cost of financing or buying.
The advantages that renting has over buying or financing your construction machinery make renting over buying a no-brainer. It is better for your business’s balance sheet, helps your company to be financially flexible in an ever-changing world, and gives you access to the latest technology.– Source :
RayHaber
