Buying Vs. Renting: 4 Invaluable Benefits Of Renting Construction Equipment

Posted on: 15 April 2021

In a competitive world where you strive to keep your construction business afloat, you could be wondering what to do to get that competitive advantage. You might find yourself comparing the costs of purchasing and renting construction equipment. While both options are excellent when it comes to your daily construction operations, you might want to examine what the renting option offers. If you are managing a construction project, here is why you should consider renting construction equipment.

1. Forget the Upfront Costs

Construction equipment such as bulldozers, cranes, and excavators are huge and expensive pieces of machinery that demand high upfront costs to purchase. Fortunately, you can cushion your finances and settle other important expenses such as payrolls by renting the equipment.

Moreover, you may not need the equipment throughout the project period. Rather than tying your money in underutilized equipment, consider renting what you need to save up and grow your construction business.

2. Avoid the Repair and Maintenance Costs

Purchasing construction equipment means owning the asset and being responsible for its maintenance and repair costs. Heavy equipment can be expensive to maintain and repair to keep up with its optimal performance level.

In most cases, when renting equipment, the repair and maintenance costs befall the owners. Take advantage and eliminate this unnecessary stress by choosing the equipment rental option.

3. Eliminate the Storage Costs

Although often overlooked, purchasing construction equipment tags along with the burden of finding suitable and safe storage solutions. You can't leave costly equipment lying in the open due to the risk of theft and damage from external elements such as moisture, which accelerate rust.

Additional storage needed for your purchased equipment means more costs on your end. However, leasing construction equipment frees you from worrying about their storage expenses and renting storage spaces. Storage shouldn't be your concern, provided you return the equipment to the rental company.

4. Reduce Delays and Downtime Losses

How much time would you waste accumulating money to purchase one piece of equipment to handle your construction projects? It would be best to eliminate the delays and downtime losses associated with acquiring equipment and instead lease one at your convenience.

Equipment leasing companies will have everything you need upon request. This kind of flexibility offloads the burden of losing out on projects or delaying project completion time.

If you are a construction manager considering the benefits of renting construction equipment over purchasing, you have adequate reasons to go for the former. Enjoy the power to control your project by getting into a partnership with a reliable equipment leasing company.

If you have questions, contact a local construction equipment rental service to learn more.