If you own and operate a construction company, you’re faced with the question of whether to rent heavy equipment or purchase it outright. While some might opt to spend large amounts to buy, there are several advantages to heavy equipment rental that should be considered before investing.
If you are unsure about deciding to rent or buy, you should arrange a rental purchase option, or R.
P.O., contract for your equipment. If you know there’s a chance you’ll need a tractor but are doubting if it will be a permanent necessity, this will allow you to apply your rental fees towards buying the equipment while building equity.
Some construction companies fear that any equipment available to rent must be of lower quality. This is simply untrue, as industry demand encourages companies to maintain their inventory and hold it to a high standard.
Another myth about rentals is that they have outdated technology. However, the top heavy equipment rentals know they need to stay on trend with all of the latest innovations to remain competitive. If your project has specific needs but you are wary of investing too much capital on equipment with limited versatility, then renting could be the perfect solution for you.