Key Benefits of Renting Equipment Rather Than Buying
Professional contractors in a wide range of industries, from agriculture to construction and plumbing to landscaping, can benefit from equipment rental rather than buying. Whether you’re a contractor working solo or you’re a bigger company looking to expand your business, there are many advantages of renting over buying.
Read on to get to know why flexible access to heavy equipment and machinery can keep your business lean while letting you win new projects.
Avoid significant up-front investments
It’s no secret that equipment is expensive, especially large machines like excavators, tracked dozers, telehandlers and more. Paying out for a new or used machine ties your money up until you sell it. Rather than tying up your capital by outright buying the machinery you need for your jobs, free up your funds, and rent equipment instead.
Avoid maintenance costs
Like cars and other machinery, heavy equipment is prone to breakdowns without routine maintenance. Some companies have entire maintenance teams devoted to keeping up equipment by checking fluids and hydraulics, changing parts and even upgrading technology. While you can accurately gauge rental fees, you can’t do the same with maintenance—it’s too unpredictable. Save yourself money and hassle by renting equipment and leaving the maintenance concerns to someone else.
Simplify storage and logistics
Heavy equipment shouldn’t be exposed to the elements, which means you need a long-term storage solution for it. No matter where you live, space is expensive—equipment rental helps you avoid that expense.
In addition, rental saves you from potential logistics headaches. Renting equipment is easy since you can have even heavy machinery delivered to your worksite and picked up when you’re done. You won’t have to worry about transporting unwieldy machinery from site to site, saving you time and money in both the short and long terms.
Maintain borrowing power
As mentioned above, renting equipment means you won’t have your money tied up in significant expenses. Banks won’t look at equipment rental as a liability on your balance sheet, helping your business maintain strong borrowing power. With extra borrowing power, you can take advantage of favorable interest rates whenever they’re available, allowing you to expand your business when the time is right.
Open up new business opportunities
Want to take on a new project, but don’t have the right equipment to tackle the job efficiently? Equipment rental gives you easy access to specialty equipment you might only use for one-off projects. For example, maybe you’re bidding on a project that involves digging or grading or precision dirt work that can only be completed with the right machine. Your local equipment rental company has options that cater to almost any need, allowing you to take on new projects that can grow your business.
When it comes to equipment like heavy machinery, contractors from a wide range of industries can enjoy the advantages of renting over buying. Get the equipment you need—on your terms—from Ram Rent-All, Inc. We make it easy for you to get the job done, whether you’re sprucing up your landscaping, breaking ground on a project or anything else.