Benefits of Renting Construction Equipment
Category: Equipment and Solutions
Renting construction equipment is one of the best ways you can ensure your company’s success. Construction equipment is crucial to the efficient completion of jobs, and without it, you can greatly slow your work, leaving clients dissatisfied. Renting equipment is a primary option for companies looking to up their capabilities and have the best machinery available for any job.
As you considering renting, you should know more about the top advantages of renting construction equipment, as well as being aware of times when you might want to buy instead.
Advantages of Renting Construction Equipment
Why rent construction equipment? You’ll probably want an answer to this question before you make a decision. Renting equipment has several benefits that make it the perfect option for many companies looking to make smart financial decisions and improve their productivity.
Below you can find out more about the top advantages of renting construction equipment:
1. No High Initial Investments or Long-Term Costs
Renting is one of the best options for companies that don’t have a great deal of capital to invest in heavy-duty equipment. You won’t have to pay a significant down payment or spend money paying off a large purchase. Instead, construction equipment rental prices are relatively low, and you only need to pay for the equipment when you need it.
Besides avoiding high initial costs, you also get to prevent long-term costs. You’ll rent the piece of equipment for a set amount of time, and you’ll return it as soon as you’re done. When you return the equipment, you won’t have to continue paying for it, meaning you’re only spending money on machinery when it’s making you money out at a job site.
2. Greater Job Flexibility
Renting is the go-to option for companies that want to expand their capabilities and be ready to take on any job. Since you can return and swap out equipment as your needs change, you get exceptional flexibility in the type of work you can take on. On one project, you may need a wheel loader, and on the next, you might need an excavator. By renting equipment, you can adjust to a project’s needs quickly.
3. No Storage or Transportation Expenses
One of the major advantages of hiring construction equipment is the lack of expenses for storage and transportation. In between jobs, construction equipment has to be stored somewhere to keep it out of harm’s way and ensure its durability. Renting equipment means you don’t have to worry about providing any storage facilities.
Besides saving money by not having to pay for storage expenses, you also avoid having to pay for equipment transportation. Since you often can’t legally drive construction equipment on highways or roadways, you have to use trucks and other specialty vehicles to take the equipment from one job site to another. As a result, you can be stuck with extra expenses related to transporting the machinery. When you rent, a dealer will handle all of the transportation services for you.
4. Cutting-Edge Technology
Renting equipment gives you access to the latest in construction technology. Rental dealerships will have the capital and the industry connections to add the latest construction equipment to their inventory. Because you’re renting, this equipment is usually quite affordable, giving you the chance to access cutting-edge tech when you believe it can benefit your company.
5. Fewer Maintenace Costs
Another major way that renting construction equipment can save you money and shield you from unexpected costs is by reducing maintenance and repair expenses. When renting equipment, you may have to agree to some minor maintenance or repair responsibilities, but these costs will be low, and you won’t have to commit to a long-term maintenance plan. Often, you may not have any maintenance costs associated with the rental, as the dealer covers them.
Keeping the equipment on a maintenance schedule and replacing major parts are all the dealer’s responsibility. Since they handle these significant expenses, you don’t have to worry about your costs increasing due to a part breaking. As a result, you can better predict your costs for a job and keep your overall expenses low.
When It Might Be Better to Buy Than Rent
Sometimes, you may decide that renting equipment isn’t quite right for your needs. To evaluate if you should buy instead of rent, check out some of the top reasons companies decide to buy:
- Consistent use: If you plan to use a piece of equipment for the majority of your projects, it’s likely buying equipment will be worth the investment. If you find that throughout the year, the kind of work you do always requires a specific type of equipment, purchasing construction equipment can end up saving you money in the long run due to the amount of use you get out of the machine.
- Need for rapid response: While renting is usually a quick process, owning your own equipment means you can deploy your equipment immediately, no matter the time of day or night. If the work you do requires some level of rapid response, you may want to own essential pieces of construction equipment so you can react as quickly as possible.
- Have established transportation vehicles and storage facilities: For companies that already have the infrastructure to properly store and transport construction equipment from one location to another, it can be a smart financial decision to buy equipment. By already having the facilities and transportation vehicles, you won’t raise your costs significantly when you purchase a new piece of equipment.
If any of the qualifications listed above are relevant to your situation, you may want to buy equipment instead of rent.
Choose Rental Equipment From NMC Cat
With all of the benefits of renting equipment, you’re likely ready to pick out some equipment to help you with your next job. To get the very best rental equipment, you should look to NMC Cat. We’re proud to provide our clients with affordable, high-quality equipment. Browse our extensive inventory of Cat® equipment to see how many options we have available that could take your quality of work to the next level.