Whether it’s a small or large project, the question often arises within an organization — “Should we rent or buy equipment?” There are benefits of renting equipment versus buying it. Keep these “12 Reasons to Rent” in mind when organizing your next project.
Project control
1. Reduced after-job disposal: What do you do with purchased equipment that is not needed after a job is complete? Do you keep it or sell it? What if it is broken and needs repair? Don’t want to bother with questions like these? Renting equipment will reduce your after-job disposal of equipment.
2. No obsolete equipment: When buying instead of renting, you lock yourself into a long term decision. With renting, you are guaranteed you will have an up-to-date, clean and certified piece of equipment.
3. Accurate cost control: Calculating the cost of ownership of equipment when determining and allocating job costs can be difficult. By renting the equipment you get an accurate and accountable total cost for your project.
Productivity on the job
4. Right tool for the job: Eliminate downtime by having what you need, when and where you need it. Also, by renting the required equipment, you can order the exact capacity, lift height and quantity you need.
5. Well maintained and ready to use: Equipment operating conditions can be severe, so equipment must be tough in order to survive and perform well. Renting equipment ensures you will receive equipment that is durable, certified and ready for safe use.
6. No breakdown problems: Use quality branded equipment that is tested to ANSI standards and rigging equipment that is precision serviced and certified every time it leaves a rental warehouse.
Inventory management
7. Minimal equipment required: There’s no need to maintain a storage yard. Get the exact equipment needed for the job. Eliminate possible problems or extra expenses that may come from equipment inventory.
8. No storage costs: Renting equipment eliminates the need for equipment storage after job completion. Rented equipment is delivered when and where you need it and retrieved immediately after use.
9. Reduced maintenance expense: Could you benefit from a smaller inventory of equipment needing maintenance and certification? Renting equipment eliminates the need for service and certification because it is taken care of for you.
Corporate benefits
10. Reduced property tax: Renting helps keep your financial books clear. Did you know property taxes are reduced on rented equipment? Renting your next set of equipment can help reduce expenses.
11. Increased borrowing capacity: Companies that rent instead of purchasing often find borrowing easier. Rental equipment does not appear as a liability to your company therefore showing a better ratio of assets to liabilities.
12. Conservation of capital: You know buying may seem like a good idea, but if you analyzed your equipment needs and likely costs before a new job starts, you may avoid spending a lot of money on equipment that may never be used again. It’s possible renting is the smarter solution.
Renting equipment can be beneficial for both you and your organization. For your next project, keep these “12 Reasons to Rent” in mind to help save time and money.
For more information, visit www.lgh-usa.com/bic, email sales@lgh-usa.com or call (800) 878-7305.
