[]There are cases when you will be prompted to ask yourself why rent equipment for your next construction job. At times it is a dilemma that creates much confusion during the decision making process of a firm. In as much as buying has always been portrayed to be the way to go, there are scenarios when it makes much more economic and logical sense to rent.
Suppose you have a single contract which requires a certain piece of equipment. If you will only use it once then it will be a wrong move to buy while renting will cost you much less. This means that you have to consider whether you will need the machine for a longer period consisting of a substantial part of the machines useful life.
Another case applies when you get into a contract and you suddenly find out that you may need additional facilities to broaden your fleet of machinery. Reasons could be that you want to complete the job ahead of time or the contract is just too big for your fleet. In either case, if the additional machinery will only be used in the short term then you are better of renting.
Renting also comes with other advantages in that you do not have to spend more on storage or maintenance. This is because such contracts usually include insurance into the fee structure. In most cases, you will also note that the renting firms transport their equipment to your site whenever you need them so no need to invest in warehouses or garages for storage.
Making the choice to rent can also save you a lot of capital thus improving your borrowing power for funds from financial institutions. This capital that you save can be used for other reasons such as investment into a venture that can generate income. Doing so will put you on a more stable financial ground.
Since most renting firms will ensure that they have the latest machines with top notch technology, renting can be the most viable way to make use of such machinery. In this dynamic global environment, machines become obsolete so fast yet new machines are much more efficient with lower costs to run and maintain. You would not want to miss out on such advantages.
The next time you want to make a decision or when anyone asks you why rent equipment for your next construction job you are in a better position to give them an answer based on facts and figures. Basically, all elements rely on whether your decision making process is based on the achievement of long term goals.
Suppose you have a single contract which requires a certain piece of equipment. If you will only use it once then it will be a wrong move to buy while renting will cost you much less. This means that you have to consider whether you will need the machine for a longer period consisting of a substantial part of the machines useful life.
Another case applies when you get into a contract and you suddenly find out that you may need additional facilities to broaden your fleet of machinery. Reasons could be that you want to complete the job ahead of time or the contract is just too big for your fleet. In either case, if the additional machinery will only be used in the short term then you are better of renting.
Renting also comes with other advantages in that you do not have to spend more on storage or maintenance. This is because such contracts usually include insurance into the fee structure. In most cases, you will also note that the renting firms transport their equipment to your site whenever you need them so no need to invest in warehouses or garages for storage.
Making the choice to rent can also save you a lot of capital thus improving your borrowing power for funds from financial institutions. This capital that you save can be used for other reasons such as investment into a venture that can generate income. Doing so will put you on a more stable financial ground.
Since most renting firms will ensure that they have the latest machines with top notch technology, renting can be the most viable way to make use of such machinery. In this dynamic global environment, machines become obsolete so fast yet new machines are much more efficient with lower costs to run and maintain. You would not want to miss out on such advantages.
The next time you want to make a decision or when anyone asks you why rent equipment for your next construction job you are in a better position to give them an answer based on facts and figures. Basically, all elements rely on whether your decision making process is based on the achievement of long term goals.
About the Author:
The Hertz Equipment Rental fleet is one of the strongest in the industry, hertzequip.com. Our product line includes everything from small hand held tools to large earthmovers, excavator for rent.
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