Making the decision on whether to rent or buy heavy equipment depends on your unique situation. Determining what equipment will best suit your needs and budget is an important step in the decision-making process.
Depending on the size of your jobs, you may own some core equipment that you own that you are capable of maintaining and servicing while renting other equipment for unique or specialized jobs. Regardless of what option you choose, be sure to consider all factors to make an informed decision on what best meets your company’s needs.
Many construction industry experts say it’s a general rule to buy equipment if you need it for more than 65 percent of your jobs. Take a look at some of the advantages of owning versus renting the equipment you need to get the job done right, and on time.
THE ADVANTAGES OF OWNING HEAVY DUTY EQUIPMENT
From small power washers to rough terrain cranes, companies in the business of selling new and used equipment will normally have the option to rent or buy. The best decision depends on your situation. Take into account how often you will need the equipment and look at the advantages and disadvantages of owning it yourself. Having the exact piece of equipment at your disposal whenever you need it has its own advantages, but there is much to consider when you purchase heavy equipment for your business.
THE ADVANTAGE OF RENTING HEAVY DUTY EQUIPMENT
Renting tools and equipment has its own benefits. If you’re having trouble deciding, think about how often you would need that certain product. Rarely need a lift for your jobs? It probably wouldn’t be in you or your company’s best interest to purchase it. Don’t have access to the proper storage? Storing a large machine comes with its own costs. You may occasionally have to rent equipment to perform certain tasks you don’t normally do, or during peak construction time.
ASCO offers flexible options with daily, weekly, and monthly rates for rental equipment. While the cost of renting equipment is generally higher than a loan payment, the advantages and convenience of renting are plenty.
We give you more options. Because we have a large inventory of new, pre-owned, and rental equipment in our 23 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.