In recent years, the heavy equipment industry has seen a dramatic increase in rentals. For those unfamiliar with renting construction equipment, the benefits may not be clear so let us outline for you some of the intrinsic advantages to renting vs buying and assess what is best for your company or project.
Cost effectiveness is a key benefit of renting construction equipment. For many, their work is project based and each project may not utilize the same machinery. Renting the equipment on a time limited basis means the company is only paying for the exact time frame they need the machine rather than purchasing and perhaps having it sit unused until a similar project arises again. The short-term use of heavy equipment is significantly lower in cost than the outright purchase price with the exact amount depending on the type of equipment and length of rental period. For example, for a rental period of 4 weeks, the cost is between 2-10% of the total purchase price. In addition to a lower initial cost, the company does not need to budget for depreciation of the asset, storage space or maintenance costs, saving money in the long-term as well.
When a customer chooses to rent by project or in a short-term capacity, it also allows them the benefit of utilizing new technology with each rental. As equipment and technological advances improve over time, rental customers can optimize these innovations as it applies to their work, without the long-term commitment for a purchase or lease agreement. These new technologies often streamline the process and can make the use of the machine more efficient, saving time and money on the project.
Depending on the project and the customer, renting construction equipment can be a cost effective, streamlined solution. One of our longtime customers __________ shares how his rental experience has helped his business.
RENTAL STORY HERE
Our rental staff at your local branch can answer all your rental related questions. Coastline Equipment offers an expertly maintained fleet of current, emissions compliant machines, from skid steers to large excavators. CLICK HERE to contact our rental department and see how renting your next machine could work for you.