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When to rent vs. buy Heavy Equipment

We’re here to help you make the best choice for your business on high-quality heavy machinery for rent or purchase.

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Factors to Consider When Deciding Whether to Rent vs. Buy Heavy Equipment

Regardless of whether you’re interested in heavy equipment leasing or owning, be sure to consider all factors to make an informed decision on what best meets your company’s needs.

When debating whether to rent or buy heavy equipment, several factors should be considered. First, consider the frequency of use and the cost of ownership, including maintenance, storage, and potential resale value. Second, consider the financial implications, including upfront costs, ongoing expenses, and potential tax benefits. Finally, consider the flexibility of rental options and the accessibility to specialized equipment. Weighing these factors will help determine the most cost-effective and practical solution for your business needs.

Take a look at some of the pros and cons of owning compared to heavy equipment rentals to see what you need to get the job done right, and on time.

Why Buy?Why Rent?
a large tractor parked in the dirt

WHY BUY?

THE ADVANTAGES OF OWNING HEAVY EQUIPMENT

Whether you’re in construction, mining, agriculture, or another heavy equipment-dependent industry, you need reliable machinery to get the job done. When it comes to acquiring new or used equipment, start by considering the frequency of equipment usage and the advantages and disadvantages of ownership.

Owning a piece of equipment provides the convenience of having it on hand whenever you need it, but it comes with many considerations, such as maintenance, storage, and potential resale value.

OWNING CAN SAVE YOU MONEY

Tired of paying rental fees for a piece of equipment you use on a regular basis? Owning heavy equipment can be a wise investment, lowering interest rates and providing tax incentives while building your assets and inventory. Paying rental fees for every use can quickly add up, potentially costing you more than purchasing the equipment outright. If you need a piece of equipment for more than 65% of your jobs, owning it may be more cost-effective.

Consider buying pre-owned or used equipment as an affordable option. Even small expenses can impact your bottom line and future projects.

View ASCO’s Inventory of Pre-Owned Equipment

GAIN A COMPETITIVE EDGE

In highly competitive industries, the best jobs often go to the lowest bidder. To win bids and offer competitive prices to customers, businesses must keep costs low. Making wise choices regarding renting or buying equipment can be a crucial step toward achieving this goal. By minimizing equipment costs, you not only improve your bottom line, but you increase your chances of winning bids and securing more profitable jobs.

With high-quality construction, mining, or agriculture equipment from ASCO, you can offer the lowest bids without sacrificing quality.

Browse ASCO’s New Equipment Inventory

TAX BENEFITS

According to IRS regulations, heavy equipment expenses used for professional purposes can be written off by businesses. The new tax law allows for a first-year bonus depreciation of 100% of the cost of qualifying equipment, up from 50%, and now includes used equipment purchased after September 27, 2017. This means that businesses may be able to write off the entire purchase price of qualifying equipment, rather than just 50%.

These tax incentives can significantly reduce the cost of equipment ownership, making the end cost of buying equipment more cost-effective in the long run.

Calculate Your Potential Tax Savings

BUILD UP YOUR ASSETS

The more you own, the more assets you have. Owning equipment increases your company’s value, as well as your borrowing power. By owning construction equipment, mining equipment, and more, you can enhance your company’s profit potential. The more assets you have, the more opportunities you have to secure financing for growth and expansion.

Owning equipment also gives you more control over your operations and the ability to customize equipment to fit your specific needs, ultimately leading to greater efficiency and profitability.

Shop ASCO’s New Equipment Inventory

WHY RENT?

THE ADVANTAGE OF RENTING HEAVY EQUIPMENT

Renting tools and equipment has its own benefits. Although renting is typically more expensive than a loan payment, the convenience and advantages of renting are numerous. If your business doesn’t need certain equipment frequently, lacks proper storage space, or needs to maintain efficiency during peak seasons, equipment rental may be the right choice for you.

Additionally, ASCO offers flexible rental equipment options with daily, weekly, and monthly payments and affordable rates. Our equipment rental benefits can put your business in a strong position in your industry!

NO LONG-TERM COMMITMENT

When you own a piece of equipment, the maintenance and storage are on your shoulders. However, renting equipment gives you the freedom to use the equipment only when you need it, and return it after you’re through. You don’t have to worry about the upkeep or the costs associated with repairing a machine that may break down in the years to come.

And with ASCO’s rental department, you can choose from a wide range of heavy equipment that is well-maintained and ready to use for your next project.

Browse our Available Rental Fleet

SMALLER UPFRONT EXPENSES

Construction and agricultural equipment rental expenses are considered business expenses when it comes to tax time. As a result, you can often deduct any heavy equipment rental expenses on a yearly basis. This can help reduce your tax liability and free up funds for other investments.

Additionally, renting can be a good option if you don’t have the capital to invest upfront, or if you want to avoid the ongoing insurance and maintenance costs that come with owning equipment.

Calculate Your Potential Tax Savings

SAVE PRECIOUS TIME

When you find a mining and construction equipment rental company you trust, renting and returning equipment should be easy. Choosing a reliable heavy equipment supplier eliminates the need to shop around for the most competitive pricing or superior quality machinery. You can also take on more jobs knowing you have virtually any piece of equipment at your disposal.

At ASCO, we deliver the equipment to your job site and pick it up when you are done, freeing up more time for you to get your work done, instead of loading and unloading heavy equipment.

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CONSISTENTLY RELIABLE EQUIPMENT

Renting equipment helps to avoid the hassle of equipment breakdowns and technical service. If you’re not experienced with repairing equipment or struggle to find high-quality replacement parts, it can lead to costly downtime. With trustworthy rented heavy equipment, you can ensure you always have access to reliable, well-maintained machinery.

By avoiding equipment downtime, you can prevent losing business to competitors and maintain a positive reputation among your customers.

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NO MAINTENANCE OR STORAGE

When starting out, not everyone has access to large storage facilities to keep heavy equipment. Renting equipment is a good option when you have limited storage space. Additionally, renting equipment can save you from the responsibility of maintenance and upkeep.

By choosing rental options, you can have access to the latest technology and equipment, ensuring the quality and reliability of the equipment for your projects.

Browse our Available Rental Fleet

HERE'S WHERE ASCO COMES IN CLUTCH

We give you more options. Because we have a large inventory of new, pre-owned, and rental equipment in our 27 locations, we can give you options to try before you buy. Our extensive parts inventory and experienced technical staff means we’ll be here to support you long after the deal is done.

THE OPTION TO TRY

If while renting any ASCO rental unit, you decide you’d like to purchase it, ASCO will apply 60% of your paid current continuous rental on the subject machine to its sales price. If you need to return the unit within 90 days after purchase, for any reason, we’ll refund your purchase price less the full rental rate for the period since purchase and the service necessary to return the unit to rent-ready condition.

PURCHASE YOUR OWN

Looking to upgrade your heavy equipment or add to your fleet? Start by browsing our extensive online showroom featuring top-quality new and pre-owned material handling and construction equipment from trusted brands such as CASE, Hitachi, Doosan, and Volvo. ASCO Equipment offers financing options, reliable machinery, and top-rated customer service. With 27 locations across Texas, Oklahoma, and New Mexico, you can visit one of our dealerships today to get started!

RENT FOR A WHILE

A rental fleet ensures minimal downtime due to maintenance and allows operators to get the job done without frustrating interruptions. We rent all types of heavy, contractor, and construction equipment. ASCO’s Uptime Guarantee ensures our rental equipment is clean, late model, and well maintained. We guarantee dispatch within 2 hours of your call. We know how important your time is, so we’ll go to great lengths to ensure we’re supporting you.

THE PARTS & SERVICE YOU NEED

Already own equipment? We also have a full staff of experts, service technicians, as well as over $21 million in stocked parts inventory. ASCO’s heavy equipment service departments in Texas, New Mexico, and Oklahoma are committed to increasing your productivity by maximizing up-time for your new or used construction equipment. We have over 200 factory-trained certified technicians providing you with 24/7 service and are equipped with over 140 field service trucks with the latest repair and diagnostic tools.

We Offer Cost-Effective Equipment Solutions

As you can see, there are advantages to both buying and renting heavy-duty equipment. If you’re still not sure what option is best for you, fill out the form below to contact ASCO and one of our equipment experts will be happy to assist you.

SEE OUR INVENTORY PAGESEE RENTAL INFORMATION
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