The decision to rent or purchase construction equipment depends on your circumstances. If you use a piece of equipment most days of the week and maintain a place to store it at your business site, purchasing is often the most cost-effective decision. However, there is a place for equipment rental service in Monroe, LA if large purchases are impractical. Here are five ways equipment rental is worth it:
- Less money up front: There is no getting around this one—construction equipment is expensive. You can pay $100,000 to $500,000 for an excavator, which becomes quite the drain if you pay storage on it while it gathers dust. However, if this is likely the only time you’ll need it, you can rent it for a few thousand dollars and still complete your project. This makes it easier to get the equipment you need without making a large investment.
- Easy upgrades: Established contractors frequently prefer renting over owning because they receive upgraded equipment. When you purchase heavy equipment, you want to keep it for years, if not decades. That is due to the initial purchase price, but also the money you put into maintenance. When you decide to rent equipment, you are guaranteed the newest models rather than stuck hoping your old reliable equipment remains that way.
- Trial periods: Sometimes, you are not sure how long you will need equipment or whether you even want to use it in the first place. Renting gives you a chance to try it out and decide whether it is indispensable to your business. If you find certain items are picked up at our shop constantly, you may want to consider making a purchase. Otherwise, if you try it out and don’t need it again for three years, you finish your project without being out a lot of money.
- Maintenance: An expense often associated with heavy equipment is the maintenance. You need to keep up on these routines to keep it reliable. Also, if you end up storing equipment for a long period of time, it often requires substantial repairs to get it working well again. Maintenance is a major cost of ownership that you do not have to absorb if you rent an item only a few times a year. Not only do you avoid paying for it, but you know every piece you rent from us receives good care so it can perform for you reliably.
- Storage costs: Even if you are lucky enough to rent a large commercial site, there is only so much room for storage. You may own two forklifts but come across a project that needs four. If you do not have room to store the additional two on your site, you must locate commercial storage. These costs add up if, most of the time, you only need two forklifts. Rather than risk these unnecessary expenses, rent from us not only when you need a specific machine for the short term, but also when you must supplement whatever you already own.
Ram Rent-All, Inc. is your reliable equipment rental service in Monroe, LA. We assist contractors, mechanics and homeowners. Call us today to reserve what you need to get the job done.